SEC Form 4 · accession 0001567619-18-006578
Westlake Chemical Partners LP · WLKP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Albert Chao
Officer — President & CEO · Director · 10% Owner
Period of report
Nov 15, 2018
Accepted (ET)
Nov 19, 2018 · 9:48 am EST
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 | Nov 15, 2018 | P | 2,492 | $23.202 | A | 73,597 | D | |
| Common Units (Limited Partner Interests)F2 | Nov 16, 2018 | P | 12,452 | $23.27 | A | 86,049 | D | |
| Common Units (Limited Partner Interests) | holding | — | — | — | 27,275 | I | by Trusts | |
| Common Units (Limited Partner Interests)F3,F4 | holding | — | — | — | 14,122,230 | I | TTWF LP & TTWF GP LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions ranging from $23.00 to $23.39, inclusive. The reporting person undertakes to provide to Westlake Chemical Partners LP, any security holder of Westlake Chemical Partners LP or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of common units purchased at each separate price within the ranges set forth in this footnote.
- F2The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions ranging from $23.06 to $23.44, inclusive. The reporting person undertakes to provide to Westlake Chemical Partners LP, any security holder of Westlake Chemical Partners LP or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of common units purchased at each separate price within the ranges set forth in this footnote.
- F3WPT LLC ("WPT") owns 14,122,230 common units ("Common Units") representing 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. The reporting person may be deemed to indirectly own the Common Units through his ownership interest in TTWF LP, a Delaware limited partnership through which the reporting person indirectly holds 92,010,554 shares of Westlake.
- F4Two trusts for the benefit of members of the Chao family, including the reporting person, are the managers of TTWF GP LLC, a Delaware limited liability company that is the general partner of TTWF LP. The limited partners of TTWF LP are five trusts, principally for the benefit of members of the Chao family, including the reporting person, and two corporations owned, indirectly or directly, by certain of these trusts and by other entities owned by members of the Chao family, including the reporting person. The reporting person shares investment and voting power with respect to the common units beneficially owned by TTWF LP. The reporting person disclaims beneficial ownership of the Common Units except to the extent of his pecuniary interest therein.
Remarks
Mr. Albert Chao is a Director, President and CEO of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP.