SEC Form 4 · accession 0000899243-17-021289
Westlake Chemical Partners LP · WLKP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
WESTLAKE CHEMICAL CORP
10% Owner
WESTLAKE CHEMICAL INVESTMENTS, INC.
10% Owner
WESTLAKE OLEFINS CORP
10% Owner
WESTLAKE POLYMERS LLC
10% Owner
WPT LLC
10% Owner
TTWFGP LLC
10% Owner
TTWF LP
10% Owner
Period of report
Aug 30, 2017
Accepted (ET)
Aug 31, 2017 · 9:41 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001604665
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,F2 | Aug 30, 2017 | C | 12,686,115 | — | A | 14,122,230 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Subordinated Units (Limited Partner Interests)F1,F2 | — | Aug 30, 2017 | C | 12,686,115 | D | — | — | Common Units (Limited Partner Interests) | 12,686,115 | 0 | D |
Explanation of responses
- F1On August 30, 2017, pursuant to the terms of the agreement of limited partnership (the "Partnership Agreement") of the Issuer, the 12,686,115 subordinated units representing limited partner interests in the Issuer (the "subordinated units") acquired by WPT LLC ("WPT") in the Issuer's initial public offering converted into common units representing limited partner interests of the Issuer ("common units") on a one-for-one basis, resulting in the acquisition of 12,686,115 common units. The subordinated units had no expiration date.
- F2As of August 30, 2017, (i) WPT owns 55.7% of the outstanding limited partner interests in the Issuer. Westlake Chemical Corporation ("Westlake") owns 100% of Westlake Olefins Corporation, which owns 100% of Westlake Chemical Investments, Inc., which owns 100% of Westlake Polymers LLC, which owns 100% of WPT. TTWF LP, a Delaware limited partnership, holds 92,010,554 shares of Westlake's common stock. TTWF GP LLC, a Delaware limited liability company, is the general partner of TTWF LP. Each of the reporting persons in the above described ownership chain of WPT may be deemed to indirectly own the common units and the subordinated units directly held by WPT.