SEC Form 4 · accession 0001678693-17-000004
Tallgrass Energy Partners, LP · TEP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher R. Jones
Officer — VP, General Counsel and Sec.
Period of report
Aug 2, 2017
Accepted (ET)
Aug 3, 2017 · 7:03 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001569134
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,F2 | Aug 2, 2017 | A | 90,000 | $0.00 | A | 118,415 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents 90,000 unvested Equity Participation Units ("EPUs") granted to the Reporting Person, which will vest on the earliest date on or after April 1, 2021, on which the average compounded annual distribution growth rate for regular quarterly Issuer distributions, based upon the regular quarterly distribution paid by the Issuer on, or immediately prior to, such date is at least 5% over an annualized distribution rate of $3.34 per common unit, as determined by the board of directors of the general partner of the Issuer (the "Distribution Hurdle Date"). If the Distribution Hurdle Date has not occurred by August 2, 2024, the EPUs will expire and terminate and no vesting will occur.
- F2Includes 97,800 unvested EPUs granted to the Reporting Person, of which (i) 2,900 will vest on May 13, 2018, (ii) 2,900 will vest on May 13, 2019, (iii) 2,000 will vest on November 1, 2019, and (iv) 90,000 will vest in accordance with the terms described in footnote 1.