SEC Form 4 · accession 0001209191-15-072227
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
Sep 25, 2015
Accepted (ET)
Sep 25, 2015 · 7:01 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 UnitF1 | Sep 25, 2015 | M | 1,721 | $0.00 | A | 16,948 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitF4,F2,F3 | — | Sep 25, 2015 | M | 1,721 | D | — | — | Common Unit | 1,721 | 3,104 | D |
Explanation of responses
- F1These common units were issued pursuant to a phantom unit award granted to the reporting person on August 20, 2014 (the "2014 Phantom Unit Award"), settled at the election of the Board of Directors (the "Board") of Western Refining Logistics GP, LLC, the general partner of WNRL, in WNRL common units.
- F2Each 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, 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.
- F3The 2014 Phantom Unit Award vested on September 25, 2015, and at the election of the Board, was settled in WNRL common units.
- F4This number of derivative securities, awarded as compensation for service as a director, represents 3,104 phantom units which are scheduled to vest September 27, 2016.