SEC Form 4 · accession 0001144204-17-006022
Cypress Energy Partners, L.P. · CELP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard M Carson
Officer — SEE REMARKS
Period of report
Feb 1, 2017
Accepted (ET)
Feb 3, 2017 · 7:22 pm EST
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 | Feb 1, 2017 | M | 857 | — | A | 8,851 | D | |
| Common Units (Limited Partner Interests) | Feb 1, 2017 | F | 322 | $13.44 | D | 8,529 | 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 | — | Feb 1, 2017 | M | 857 | D | — | — | Common Units (Limited Partner Interests) | 857 | 1,714 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one common unit.
- F2On February 1, 2014, the Reporting Person was granted 2,571 phantom units which vest in three equal installments on each of February 1, 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 Senior Vice President and General Counsel 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.