SEC Form 4/A · accession 0001144204-17-030859
Cypress Energy Partners, L.P. · CELP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Stanley A Lybarger
Director · Other
Period of report
May 27, 2017
Accepted (ET)
Jun 2, 2017 · 4:48 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 | May 27, 2017 | M | 1,334 | — | A | 26,823 | 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 | — | May 27, 2017 | M | 1,334 | D | — | — | Common Units (Limited Partner Interests) | 1,334 | 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 4,000 phantom units which vest in three substantially equal installments on each of May 27, 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.
Remarks
The Form 4, as originally filed on May 30, 2017, incorrectly reported that 1,000 of the phantom units that were granted to the Reporting Person on March 26, 2015 (the "2015 Awarded Units") vested on May 23, 2017 and that 334 of the 2015 Awarded Units vested on May 27, 2017. The Form 4, as amended by this Form 4/A, correctly reports that all 1,334 of the remaining 2015 Awarded Units vested on May 27, 2017. 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.