SEC Form 4 · accession 0001144204-15-032721
Cypress Energy Partners, L.P. · CELP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John T McNabb II
Director · Other
Period of report
May 20, 2015
Accepted (ET)
May 20, 2015 · 8:42 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 | May 20, 2015 | M | 2,500 | — | A | 18,378 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom Units (Limited Partner Interests)F1,F2,F3 | — | May 20, 2015 | M | 2,500 | D | — | — | Common Units (Limited Partner Interests) | 2,500 | 5,000 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one common unit.
- F2Vests in three substantially equal installments commencing on May 20, 2015, 2016 and 2017.
- F3The 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 a director 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.