SEC Form 4 · accession 0001144204-16-113409
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
Jul 15, 2016
Accepted (ET)
Jul 18, 2016 · 6:08 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 | Jul 15, 2016 | M | 1,700 | — | A | 1,700 | D | |
| Common Units (Limited Partner Interests) | Jul 15, 2016 | F | 535 | $10.34 | D | 1,165 | D | |
| Common Units (Limited Partner Interests) | Jul 15, 2016 | D | 1,165 | $10.34 | 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 | — | Jul 15, 2016 | M | 1,700 | D | — | — | Common Units (Limited Partner Interests) | 1,700 | 3,400 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one common unit.
- F2On January 21, 2014, the Reporting Person was granted 5,100 phantom units which vest in three equal installments on each of July 15, 2016, 2017 and 2018.
- 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 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.