SEC Form 4 · accession 0001144204-16-087957
Cypress Energy Partners, L.P. · CELP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter C Boylan
Officer — SEE REMARKS · Director
Period of report
Mar 10, 2016
Accepted (ET)
Mar 14, 2016 · 8:18 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001587246
Table I — non-derivative securities
No Table I lines on this filing.
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 | — | Mar 10, 2016 | A | 88,636 | A | — | — | Common Units (Limited Partner Interests) | 88,636 | 88,636 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one common unit.
- F2Vests in three substantially equal installments commencing on March 10, 2019, 2020 and 2021.
- 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 Chairman of the Board, President and Chief Executive Officer 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.