SEC Form 4 · accession 0001144204-16-087963
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
Mar 10, 2016
Accepted (ET)
Mar 14, 2016 · 8:21 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 | 5,382 | A | — | — | Common Units (Limited Partner Interests) | 5,382 | 5,382 | 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, 2017, 2018 and 2019.
- 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.