SEC Form 4 · accession 0001558785-15-000021
CVR Refining, LP · CVRR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Martin J Power
Officer — Chief Commercial Officer
Period of report
Apr 15, 2015
Accepted (ET)
Apr 17, 2015 · 4:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001558785
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Incentive UnitsF1,F2 | — | Apr 15, 2015 | D | 227,927 | D | Dec 1, 2017 | Dec 1, 2017 | Common Units | 227,927 | 0 | D |
| Notional UnitsF3 | — | Apr 15, 2015 | A | 227,927 | A | Dec 1, 2017 | Dec 1, 2017 | Common Units | 227,927 | 227,927 | D |
Explanation of responses
- F1The Incentive Units were awarded to the reporting person by CVR Energy, Inc., an affiliate of CVR Refining, LP and the parent of the general partner of CVR Refining, LP.
- F2This transaction represents the cancellation of a previous award of Incentive Units granted by CVR Energy, Inc. on December 1, 2014, pursuant to an agreement providing for a comparable award of Notional Units from CVR Refining, LP.
- F3Each Notional Unit reported herein represents the right to receive upon vesting, a cash payment equal to the positive difference, if any, between (A) the average closing price of the common units of CVR Refining, LP for the first 10 trading days of the month immediately preceding the month in which the vesting date occurs (including any accrued distributions to which Mr. Power is entitled pursuant to the award), and (B) $23.39.