SEC Form 4 · accession 0001209191-15-052087
PennTex Midstream Partners, LP · PTXP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas F Karam
Officer — SEE REMARKS · Director
Period of report
Jun 10, 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
No Table I lines on this filing.
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)F2,F3 | — | Jun 10, 2015 | A | 63,000 | A | — | — | COMMON UNITS (LIMITED PARTNER INTERESTS) | 63,000 | 63,000 | D |
Explanation of responses
- F1Represents a grant of phantom units, subject to a Phantom Unit Agreement, under the PennTex Midstream Partners, LP 2015 Long-Term Incentive Plan.
- F2The 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.
- F3The phantom units vest in the following intervals: (i) 21,000 phantom units on June 10, 2016, (ii) 21,000 phantom units on June 10, 2017 and (iii) 21,000 phantom units on June 10, 2018.
Remarks
The Reporting Person is the Chairman and Chief Executive 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.