SEC Form 4 · accession 0001549848-18-000023
Hi-Crush Partners LP · HCLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark C. Skolos
Officer — General Counsel and Secretary
Period of report
Feb 13, 2018
Accepted (ET)
Feb 14, 2018 · 6:45 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001549848
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Units representing limited partner interestsF1 | Feb 13, 2018 | M | 7,200 | — | A | 76,444 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF2,F1,F3 | — | Feb 13, 2018 | M | 7,200 | D | Feb 13, 2018 | Feb 13, 2018 | Common Units | 7,200 | 123,607 | D |
Explanation of responses
- F1Each phantom unit was the economic equivalent of, and was settled for, one Common Unit representing limited partner interests in the Partnership.
- F2The Reporting Person is a participant in the Hi-Crush Partners LP First Amended and Restated Long-Term Incentive Plan and received 8,000 phantom units on February 13, 2015 (the "2015 Performance Award") vesting based on the Partnership's performance compared to the performance of entities in a designated peer group for the three-year period ending December 31, 2017. 90% of the 2015 Performance Award phantom units vested and settled on February 13, 2018 and the remaining 10% of the 2015 Performance Award phantom units expired on that date. 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 vesting phantom units expire upon settlement.
- F3Includes all phantom units beneficially owned by the Reporting Person following this reported transaction, including previously reported phantom units with varying vesting terms.