SEC Form 4 · accession 0000899243-19-007394
Cypress Energy Partners, L.P. · CELP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard M Carson
Officer — SEE REMARKS
Period of report
Feb 14, 2017
Accepted (ET)
Mar 12, 2019 · 8:53 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001587246
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Units (Limited Partner Interests)F1 | Feb 14, 2017 | M | 14,308 | — | A | 27,315 | D | |
| Common Units (Limited Partner Interests)F2 | Mar 10, 2019 | M | 9,867 | — | A | 37,182 | D | |
| Common Units (Limited Partner Interests) | Mar 10, 2019 | F | 3,361 | $7.48 | D | 33,821 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Subordinated Units (Limited Partner Interests)F1 | — | Feb 14, 2017 | M | 14,308 | D | — | — | Common Units (Limited Partner Interests) | 14,308 | 0 | D |
| Phantom Units (Limited Partner Interests)F2,F3,F4 | — | Mar 10, 2019 | M | 9,867 | D | — | — | Common Units (Limited Partner Interests) | 9,867 | 19,735 | D |
Explanation of responses
- F1Each subordinated unit converted into one common unit at the end of the subordination period described in the Registration Statement.
- F2Each phantom unit is the economic equivalent of one common unit.
- F3Vests in three substantially equal installments on March 10, 2019, 2020 and 2021.
- F4The phantom units expire upon settlement. The phantom units are settled upon vesting in common units (on a one-for-one basis) or in cash, at the discretion of the Issuer.
Remarks
The Reporting Person is Senior Vice President and General Counsel of Cypress Energy Partners GP, LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the directors and executive officers of the General Partner.