SEC Form 4 · accession 0001209191-15-064700
Western Refining Logistics, LP · WNRL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael C Linn
Director
Period of report
Aug 5, 2015
Accepted (ET)
Aug 7, 2015 · 5:39 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001581908
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitF3,F1,F2 | — | Aug 5, 2015 | A | 3,104 | A | — | — | Common Units | 3,104 | 4,825 | D |
Explanation of responses
- F1Each phantom unit represents a contingent right to receive one common unit representing a limited partner interest in WNRL or, at the election of the Board of Directors (the "Board") of Western Refining Logistics GP, LLC, the general partner of WNRL, or such committee as may be appointed by the Board, the cash value thereof. The phantom units were awarded as compensation for service as a director.
- F2The phantom units are scheduled to vest on September 27, 2016. Upon vesting, the vested common units underlying the phantom units, or the value thereof, will be delivered to the reporting person on or promptly following the vesting date applicable thereto, but not later than the 70th calendar day following the vesting of the phantom units.
- F3This number of derivative securities, awarded as compensation for service as a director, includes (a) 3,104 phantom units which are scheduled to vest on September 27, 2016, and (b) 1,721 phantom units which are scheduled to vest on September 25, 2015.