SEC Form 4 · accession 0001144204-17-014349
Cypress Energy Partners, L.P. · CELP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stanley A Lybarger
Director · Other
Period of report
Mar 9, 2017
Accepted (ET)
Mar 13, 2017 · 9:12 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 | Mar 10, 2017 | M | 1,794 | — | A | 24,123 | 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 | — | Mar 9, 2017 | A | 4,292 | A | — | — | Common Units (Limited Partner Interests) | 4,292 | 4,292 | D |
| Phantom Units (Limited Partner Interests)F1,F4,F3 | — | Mar 10, 2017 | M | 1,794 | D | — | — | Common Units (Limited Partner Interests) | 1,794 | 3,588 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one common unit.
- F2Vests in three substantially equal installments commencing on March 9, 2018, 2019 and 2020.
- 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.
- F4On March 10, 2016, the Reporting Person was granted 5,382 phantom units which vest in three substantially equal installments commencing on March 10, 2017, 2018 and 2019.
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.