SEC Form 4 · accession 0001209191-15-052086
PennTex Midstream Partners, LP · PTXP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kenneth E Hertel
Officer — SEE REMARKS
Period of report
Jun 9, 2015
Accepted (ET)
Jun 10, 2015 · 8:53 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001617798
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| COMMON UNITS (LIMITED PARTNER INTERESTS) | Jun 9, 2015 | P | 2,000 | $20.00 | A | 2,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PHANTOM UNITS (RIGHTS TO COMMON UNITS)F3,F4 | — | Jun 10, 2015 | A | 35,000 | A | — | — | COMMON UNITS (LIMITED PARTNER INTERESTS) | 35,000 | 35,000 | D |
Explanation of responses
- F1Represents a purchase from the underwriters in the Issuer's initial public offering.
- F2Represents a grant of phantom units, subject to a Phantom Unit Agreement, under the PennTex Midstream Partners, LP 2015 Long-Term Incentive Plan.
- F3The phantom units expire upon settlement. Upon vesting, the phantom units are settled in common units (on a one-for-one basis) or, at the discretion of the Issuer, in cash.
- F4The phantom units vest in the following intervals: (i) 11,667 phantom units on June 10, 2016, (ii) 11,667 phantom units on June 10, 2017 and (iii) 11,666 phantom units on June 10, 2018.
Remarks
The Reporting Person is Vice President, Controller and Chief Accounting Officer of PennTex Midstream 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.