SEC Form 4 · accession 0001617798-16-000118
PennTex Midstream Partners, LP · PTXP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
L. Thomas Stone
Officer — SEE REMARKS
Period of report
Nov 1, 2016
Accepted (ET)
Nov 2, 2016 · 4:22 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 UNITSF1 | Nov 1, 2016 | M | 30,524 | $0.00 | A | 44,524 | 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)F2,F3 | — | Nov 1, 2016 | M | 28,000 | D | — | — | COMMON UNITS (LIMITED PARTNER INTERESTS) | 28,000 | 0 | D |
| PHANTOM UNITS (RIGHTS TO COMMON UNITS)F2,F3 | — | Nov 1, 2016 | M | 22,232 | D | — | — | COMMON UNITS (LIMITED PARTNER INTERESTS) | 22,232 | 0 | D |
Explanation of responses
- F1Represents the issuance of common units, net of taxes paid, in respect of phantom units that vested upon the change in control of the Issuer on November 1, 2016 in connection with the closing (the "Closing") of the transaction contemplated by the certain Contribution Agreement dated October 24, 2016 (the "Contribution Agreement") by and among PennTex Midstream Partners, LLC, Energy Transfer Partners, L.P. and the other contributors party thereto.
- 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.
- F3Represents the settlement of all outstanding phantom units granted to the reporting person under the PennTex Midstream Partners, LP 2015 Long-Term Incentive Plan.
Remarks
The reporting person was the Senior Vice President, Chief Operations and Engineering Officer of PennTex Midstream GP, LLC, the general partner of the Issuer (the "General Partner") prior to his resignation in connection with the Closing. The Issuer is managed by the directors and executive officers of the General Partner.