SEC Form 4 · accession 0001637558-17-000012
CONSOL Coal Resources LP · CCR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James A Brock
Officer — SEE REMARKS · Director
Period of report
Jan 29, 2017
Accepted (ET)
Jan 31, 2017 · 6:56 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001637558
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Units (Limited Partner Interests) | Jan 29, 2017 | M | 18,988 | $0.00 | A | 25,648 | D | |
| Common Units (Limited Partner Interests)F1 | Jan 29, 2017 | F | 6,428 | $0.00 | D | 19,220 | 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,F4 | — | Jan 29, 2017 | M | 18,988 | D | — | — | Common Units (Limited Partner Interests) | 18,988 | 37,975 | D |
| Phantom Units (rights to common units)F2,F5 | — | Jan 31, 2017 | A | 73,246 | A | — | — | Common Units (Limited Partner Interests) | 73,246 | 111,221 | D |
Explanation of responses
- F1Represents units withheld to satisfy the reporting person's tax liability from the vesting of phantom unit previously granted to him.
- F2The phantom units expire upon settlement. The phantom units are settled upon vesting in common units (on a one-for-one basis) or, at the discretion of the Issuer, in cash.
- F318,988 phantom units vested on January 29, 2017. The remaining 37,975 phantom units vest 18,988 on January 29, 2018 and 18,987 on January 29, 2019.
- F4Each phantom unit was the economic equivalent of one common unit.
- F5The phantom units vest: (i) 24,416 phantom units on January 31, 2018, (ii) 24,415 phantom units on January 31, 2019 and, (iii) 24,415 phantom units on January 31, 2020,
Remarks
The Reporting Person is Chief Executive Officer and a director of CNX Coal Resources 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.