Western Refining Logistics, LP 4
4 · Western Refining Logistics, LP · Filed Jun 2, 2017
Insider Transaction Report
Form 4
Smith Mark J
Executive Vice President
Transactions
- Exercise/Conversion
Common Units
2017-06-01+19,672→ 55,635 total - Exercise/Conversion
Phantom Units
2017-06-01−19,672→ 0 total→ Common Units (19,672 underlying) - Tax Payment
Common Units
2017-06-01$24.70/sh−6,384$157,685→ 49,251 total
Holdings
- 4,671(indirect: By Trust)
Common Units
Footnotes (2)
- [F1]The transaction reported occurred in connection with the merger of Western Refining, Inc. and a wholly owned subsidiary of Tesoro Corporation, effective June 1, 2017 (the "Closing Date"). The reporting person resigned as Executive Vice President - Operations of the Issuer on the Closing Date. Pursuant to the terms of the award agreement governing the phantom units owned by the reporting person, his phantom units vested immediately upon his resignation and were converted into common units of the Issuer on a one-for-one basis. The reporting person received his phantom units from the Issuer as part of the compensation for his service.
- [F2]These common units were issuable upon vesting of the phantom units, but were withheld to satisfy the reporting person's tax obligations.