SEC Form 4 · accession 0001104659-16-095040
TERRA NITROGEN CO L P /DE · TNH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Coley L Bailey
Director
Period of report
Feb 5, 2016
Accepted (ET)
Feb 9, 2016 · 4:32 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000879575
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Phantom Units | Feb 5, 2016 | A | 745 | $97.84 | A | 745 | D | |
| Phantom Units | Feb 5, 2016 | D | 745 | $97.84 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1 | $0.00 | Feb 5, 2016 | D | 745 | D | — | — | Phantom Units | 745 | 3,878 | D |
| Phantom UnitsF2 | $0.00 | Feb 5, 2016 | A | 848 | A | — | — | Phantom Units | 848 | 4,725 | D |
Explanation of responses
- F1This transaction represents a cash settlement of the reporting person's phantom units that vested on February 5, 2016 pursuant to the compensation plan for non-employee directors (other than any phantom units deferred by the reporting person pursuant to the compensation plan for non-employee directors). The units, plus accrued distributions thereon, are settled in cash on a one-for-one basis with the Company's common units on the date the award vested.
- F2These phantom units will vest and be settled in cash on the earlier of (i) the reporting person's separation from service that is other than a removal for cause or (ii) the date of the first board meeting in 2017, unless deferred at the reporting person's option. Vested deferred phantom units are settled in cash after the reporting person ceases to be a director of the issuer.