SEC Form 4 · accession 0001209191-18-027690
PBF Logistics LP · PBFX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
C Erik Young
Officer — SVP, Chief Financial Officer · Director
Period of report
May 1, 2018
Accepted (ET)
May 3, 2018 · 5:01 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 | May 1, 2018 | M | 3,125 | $0.00 | A | 23,309 | D | |
| Common Units representing limited partner interests | May 1, 2018 | F | 1,540 | $19.90 | D | 21,769 | 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 | — | May 1, 2018 | M | 3,125 | D | May 1, 2018 | May 1, 2018 | Common Unit representing LP interest | 3,125 | 9,375 | D |
| Phantom UnitF1,F3 | — | May 1, 2018 | A | 12,500 | A | — | — | Common Unit representing LP interest | 12,500 | 12,500 | 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 May 1, 2019.
- F3The phantom units will vest in four equal annual installments beginning on May 1, 2019.