SEC Form 4 · accession 0001104659-15-050127
Emerge Energy Services LP · EMES
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard J Shearer
Officer — CHIEF EXECUTIVE OFFICER · Director
Period of report
Nov 19, 2014
Accepted (ET)
Jul 7, 2015 · 5:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001555177
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| COMMON UNITS | Nov 19, 2014 | G | 15,000 | $0.00 | D | 238,144 | D | |
| COMMON UNITS | Nov 19, 2014 | G | 15,000 | $0.00 | A | 15,000 | I | FAMILY TRUST |
| COMMON UNITS | Jan 14, 2015 | G | 15,000 | $0.00 | D | 0 | I | FAMILY TRUST |
| COMMON UNITSF1 | Jul 1, 2015 | A | 13,623 | $0.00 | A | 251,767 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PERFORMANCE BASED PHANTOM UNITSF2,F3 | — | Jul 1, 2015 | A | 13,623 | A | — | Jul 1, 2020 | COMMON UNITS | 13,623 | 13,623 | D |
Explanation of responses
- F1Represents restricted units that will vest in three equal tranches on July 1, 2016, 2017 and 2018 and are settled in common units upon vesting on a one for one basis.
- F2Each performance based phantom unit ("PPU") is the economic equivalent of one common unit and is settled in common units upon vesting on a one for one basis.
- F3Each PPU vests upon performance based on increases in the price of the common units, as noted in the Phantom Unit Agreement, subject to continued employment.
Remarks
The Reporting Person is a director and the Chief Executive Officer of Emerge Energy Services GP LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the directors and executive officers of the General Partner.