SEC Form 4 · accession 0000899243-17-015153
Western Refining Logistics, LP · WNRL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark J Smith
Officer — EVP - Operations
Period of report
Jun 1, 2017
Accepted (ET)
Jun 2, 2017 · 4:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001581908
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF1 | Jun 1, 2017 | M | 19,672 | $0.00 | A | 55,635 | D | |
| Common UnitsF2 | Jun 1, 2017 | F | 6,384 | $24.70 | D | 49,251 | D | |
| Common Units | holding | — | — | — | 4,671 | I | By Mark J. Smith & Brenda J. Smith Living Trust dated 05/09/2014 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1 | — | Jun 1, 2017 | M | 19,672 | D | — | — | Common Units | 19,672 | 0 | D |
Explanation of responses
- F1The transaction reported occurred in connection with the merger of Western Refining, Inc. and a wholly owned subsidiary of Tesoro Corporation, effective June 1, 2017 (the "Closing Date"). The reporting person resigned as Executive Vice President - Operations of the Issuer on the Closing Date. Pursuant to the terms of the award agreement governing the phantom units owned by the reporting person, his phantom units vested immediately upon his resignation and were converted into common units of the Issuer on a one-for-one basis. The reporting person received his phantom units from the Issuer as part of the compensation for his service.
- F2These common units were issuable upon vesting of the phantom units, but were withheld to satisfy the reporting person's tax obligations.