SEC Form 4 · accession 0001610682-19-000021
USD Partners LP · USDP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Keith Benson
Officer — SEE REMARKS
Period of report
Feb 16, 2019
Accepted (ET)
Feb 19, 2019 · 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,F3 | Feb 16, 2019 | A | 22,109 | $0.00 | A | 106,689 | D | |
| COMMON UNITS (LIMITED PARTNER INTERESTS)F4,F3,F5 | Feb 16, 2019 | F | 3,168 | $11.37 | D | 103,521 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the grant of 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.
- F2Includes 88,080 phantom units.
- F3Due to a calculation error, the Forms 4 filed by the reporting person on February 27, 2018 and March 6, 2018 understated the number of securities beneficially owned following the transactions reported therein. The number reported herein has been adjusted to correct this error.
- F4Represents common units of limited partnership interest withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person upon vesting of outstanding phantom units.
- F5Includes 75,073 phantom units.
Remarks
The Reporting Person is General Counsel 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.