SEC Form 4 · accession 0001144204-17-016925
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 26, 2017
Accepted (ET)
Mar 27, 2017 · 9:55 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 26, 2017 | M | 379 | — | A | 24,502 | D | |
| Common Units (Limited Partner Interests)F1 | Mar 26, 2017 | M | 987 | — | A | 25,489 | 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 26, 2017 | M | 379 | D | — | — | Common Units (Limited Partner Interests) | 379 | 0 | D |
| Phantom Units (Limited Partner Interests)F1,F4,F3 | — | Mar 26, 2017 | M | 987 | D | — | — | Common Units (Limited Partner Interests) | 987 | 987 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one common unit.
- F2On March 26, 2014, the Reporting Person was granted 1,135 phantom units which vest in three substantially equal installments on each of March 26, 2015, 2016 and 2017.
- 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 26, 2015, the Reporting Person was granted 2,960 phantom units which vest in three substantially equal installments on each of March 26, 2016, 2017 and 2018.
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.