SEC Form 4 · accession 0001549848-17-000093
Hi-Crush Partners LP · HCLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph M Welsh
Officer — Vice President
Period of report
Aug 1, 2017
Accepted (ET)
Aug 3, 2017 · 5:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001549848
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1 | — | Aug 1, 2017 | A | 42,168 | A | — | — | Common Units | 42,168 | 42,168 | D |
Explanation of responses
- F1The reporting person is a participant in the Hi-Crush Partners LP First Amended and Restated Long-Term Incentive Plan (the "Plan") and received 42,168 phantom units under the Plan on August 1, 2017. If the reporting person remains employed on August 1, 2019, 50% of the phantom units will vest at the end of such two-year vesting period, and if the reporting person remains employed on August 1, 2020, the remaining 50% of the phantom units will vest at the end of such three-year vesting period. Each phantom unit represents the right to receive, upon vesting, one common unit representing limited partner interests in the Partnership, along with tandem distribution equivalent rights. The phantom units expire upon settlement.