SEC Form 4/A · accession 0001610682-16-000127
USD Partners LP · USDP
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
Dan Borgen
Officer — SEE REMARKS · Director
Period of report
Feb 22, 2016
Accepted (ET)
Feb 23, 2016 · 6:29 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001610682
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,F3 | Feb 22, 2016 | A | 13,750 | $0.00 | A | 45,058 | D | |
| COMMON UNITS (LIMITED PARTNER INTERESTS) | holding | — | — | — | 51,325 | I | By KKB Holdings LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents vesting of 25% of Class A units of limited partnership that were granted to the Reporting Person in August 2014 and which vest based on satisfaction of certain distribution conditions. The Class A units automatically converted into common units of limited partnership interest upon vesting on a one-for-one basis.
- F2Includes 23,481 phantom units. Each phantom unit is the economic equivalent of one common unit of USDP. The phantom units vest in four annual installments commencing on the one-year anniversary of the issuance date.
- F3Amount previously reported of 42,972 understated the amount of securities beneficially held directly by the reporting owner in the amount of 2,086 common units.
Remarks
The Reporting Person is President, Chief Executive Officer and a director of USD 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.