Woodworth Douglas 4
4 · STEEL PARTNERS HOLDINGS L.P. · Filed Apr 2, 2018
Insider Transaction Report
Form 4
Woodworth Douglas
Chief Financial Officer
Transactions
- Other
Common Units, no par value
2018-03-29+5,089→ 5,089 total(indirect: By LLC)
Footnotes (1)
- [F1]Consists of Class C Common Units ("Class C Units") allocated by SPH SPV-I LLC to Mr. Woodworth's sub-account within SPH SPV-I LLC. The Class C Units have the same rights as the Common Units, except that a Class C Unit will not be saleable in the public market until the capital account allocable to such Class C Unit is equal to the capital account allocable to a Common Unit ("Capital Account Alignment"), determined as if a Class C Unit and a Common Unit were separate partnership interests for U.S. federal income tax purposes. At such time that Capital Account Alignment is achieved, a Class C Unit will convert automatically into a Common Unit. Class C Units (including Class C Units received in respect of a year) will be allocated their share of taxable income based on their percentage interests, except as otherwise determined by the Issuer.