SEC Form 4 · accession 0001144204-16-111301
Cypress Energy Partners, L.P. · CELP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Don Labass
Officer — SEE REMARKS
Period of report
Jun 30, 2016
Accepted (ET)
Jul 1, 2016 · 7:16 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 | Jun 30, 2016 | M | 2,960 | — | A | 2,960 | D | |
| Common Units (Limited Partner Interests) | Jun 30, 2016 | F | 1,025 | $9.74 | D | 1,935 | D | |
| Common Units (Limited Partner Interests) | Jun 30, 2016 | D | 1,935 | $9.74 | D | 0 | 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 | — | Jun 30, 2016 | M | 2,960 | D | — | — | Common Units (Limited Partner Interests) | 2,960 | 0 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one common unit.
- F2On March 26, 2015, the Reporting Person was granted 2,960 phantom units. The phantom units vested in full on June 30, 2016.
- F3The phantom units expire upon settlement. The phantom units settled upon vesting in cash.
Remarks
The Reporting Person is Vice President, Controller and Chief Accounting 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.