SEC Form 4 · accession 0001549848-18-000072
Hi-Crush Partners LP · HCLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William E Barker
Officer — Principal Strategy Officer
Period of report
Sep 14, 2018
Accepted (ET)
Sep 18, 2018 · 4:16 pm EDT
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 | Sep 14, 2018 | M | 9,443 | — | A | 17,968 | D | |
| Common Units representing limited partner interestsF2 | Sep 18, 2018 | S | 9,444 | $12.40 | D | 8,524 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF3,F1,F4 | — | Sep 14, 2018 | M | 9,443 | D | Sep 14, 2018 | Sep 14, 2018 | Common Units | 9,443 | 67,159 | D |
Explanation of responses
- F1Each phantom unit was the economic equivalent of, and was settled for, one Common Unit representing limited partner interests in Hi-Crush Partners, LP (the "Partnership").
- F2The sale reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on August 3, 2018 and represents the number of Common Units sold by the Reporting Person to cover, in part, estimated tax withholding obligations in connection with the vesting of the phantom units for Common Units listed in Table II.
- F3The Reporting Person is a participant in the Partnership's First Amended and Restated Long-Term Incentive Plan (the "Plan") and received 18,887 phantom units under the Plan on September 14, 2016. 50% of such phantom units vested on September 14, 2018, as the Reporting Person remained employed during the two-year 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.
- F4Includes all phantom units beneficially owned by the Reporting Person following this reported transaction, including previously reported phantom units with varying vesting terms.