SEC Form 4 · accession 0001610682-17-000031
USD Partners LP · USDP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bradford Timothy Sanders
Director · Other
Period of report
Feb 21, 2017
Accepted (ET)
Feb 21, 2017 · 4:47 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 | Feb 21, 2017 | A | 15,000 | $0.00 | A | 246,670 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents vesting of Class A units of limited partnership that were granted to the Reporting Person in August 2014 and which vest based on satisfaction of the distribution performance conditions set forth in the Second Amended and Restated Partnership Agreement of the Issuer. The Class A units automatically converted into common units of limited partnership interest upon vesting on the basis of one and one-half common units for each Class A unit.
- F2Includes 79,174 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.
Remarks
The Reporting Person is 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.