4//SEC Filing
STEPHENSON CC JR 4
Accession 0000899243-22-025606
CIK 0001587246other
Filed
Jul 6, 8:00 PM ET
Accepted
Jul 7, 6:30 AM ET
Size
11.4 KB
Accession
0000899243-22-025606
Insider Transaction Report
Form 4
STEPHENSON CC JR
DirectorOther
Transactions
- Disposition to Issuer
Common Units (Limited Partner Interests)
2022-06-22−405,300→ 0 total - Disposition to Issuer
Common Units (Limited Partner Interests)
2022-06-22−8,440→ 0 total(indirect: By Spouse) - Disposition to Issuer
Series A Preferred Units
2022-06-22−5,769,231→ 0 total(indirect: By Stephenson Equity)→ Common Units (Limited Partner Interests) (5,769,231 underlying)
Footnotes (4)
- [F1]On May 8, 2022, Cypress Environmental Partners, L.P., a Delaware limited partnership (the "Issuer"), and certain of its subsidiaries (together with the Issuer, the "Company") commenced voluntary cases under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). On June 21, 2022, the Bankruptcy Court entered an order an order confirming the Second Modified Joint Prepackaged Chapter 11 Plan of Reorganization of Cypress Environmental Partners, L.P. and its Debtor Affiliates (as amended, modified or supplemented from time to time, the "Plan"). On June 22, 2022 (the "Effective Date"), the Plan became effective in accordance with its terms and the Company emerged from chapter 11.
- [F2](Continued from Footnote 1) On the Effective Date, all outstanding common units representing limited partner interests in the Issuer and all outstanding Series A preferred units representing limited partner interests in the Issuer were cancelled and extinguished in accordance with the Plan approved by the Bankruptcy Court.
- [F3]The Series A Preferred Units are convertible into common units representing limited partner interests in connection with a change of control of the Issuer or after May 29, 2021, at the option of the Issuer or Stephenson Equity (as defined below), and have no expiration date. The Series A Preferred Units will generally convert into common units on a one-to-one basis but may convert at a higher ratio under certain circumstances.
- [F4]The Series A preferred units were held by Stephenson Equity, Co. No. 3, a Texas general partnership ("Stephenson Equity") in which Mr. Stephenson and his wife each hold partnership interests. Mr. Stephenson may be deemed to have or share voting and/or dispositive power over the Series A preferred units owned by Stephenson Equity. Mr. Stephenson disclaims beneficial ownership of the Series A preferred units except to the extent of any pecuniary interest therein..
Documents
Issuer
Cypress Environmental Partners, L.P.
CIK 0001587246
Entity typeother
Related Parties
1- filerCIK 0001029894
Filing Metadata
- Form type
- 4
- Filed
- Jul 6, 8:00 PM ET
- Accepted
- Jul 7, 6:30 AM ET
- Size
- 11.4 KB