SEC Form 4 · accession 0001209191-16-116249
PBF Logistics LP · PBFX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael D. Gayda
Director
Period of report
Apr 26, 2016
Accepted (ET)
Apr 28, 2016 · 5:31 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001582568
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Units representing limited partner interests | Apr 27, 2016 | M | 523 | $0.00 | A | 45,523 | D | |
| Common Units representing limited partner interests | Apr 27, 2016 | F | 171 | $20.15 | D | 45,352 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitF1,F2 | — | Apr 27, 2016 | M | 523 | D | Apr 27, 2016 | Apr 27, 2016 | Common Unit representing LP interest | 523 | 1,567 | D |
| Phantom UnitF1,F3 | — | Apr 26, 2016 | A | 2,526 | A | — | — | Common Unit representing LP interest | 2,526 | 2,526 | D |
Explanation of responses
- F1Each phantom unit with distribution equivalent rights ("DER"), represents a contingent right to receive one common unit representing a limited partner interest in the Issuer or, at the election of the Board of Directors of PBF Logistics GP LLC, cash or a combination of the two. DERs shall be settled in cash.
- F2The remaining phantom units will vest in three equal annual installments beginning on April 27, 2017.
- F3The phantom units will vest in four equal annual installments beginning on April 26, 2017.