Nathanson Steven R 4
4 · GENESIS ENERGY LP · Filed Sep 12, 2012
Insider Transaction Report
Form 4
Nathanson Steven R
President, Refinery Srvcs Div
Transactions
- Exercise/Conversion
Waiver Units - Class 2
2012-09-10−53,944→ 0 totalExercise: $0.00From: 2012-08-14Exp: 2021-01-01→ Common Units - Class A (53,944 underlying) - Exercise/Conversion
Common Units - Class A
2012-09-10+53,944→ 854,307 total
Footnotes (3)
- [F1]The reporting person elected to convert 53,944 Waiver Units - Class 2 on September 10, 2012, which comprised all of the Waiver Units of that class owned by the reporting person. The Waiver Units - Class 2 are convertible into Common Units - Class A on a one-for-one basis, resulting in the reporting person's acquisition of a number of Common Units - Class A equal to the number of Waiver Units - Class 2 converted.
- [F2]The Waiver Units, among other rights, preferences and privileges, are entitled to quarterly distributions of $0.001786 per Waiver Unit and are convertible into Common Units - Class A on a one-for-one basis at the option of the holder upon, among other things, payment of a quarterly cash distribution on the Common Units that has a coverage ratio of at least 1.10 and equals or exceeds the applicable distribution level: (i) Class 1 - $0.43 per Common Unit; (ii) Class 2 - $0.46 per Common Unit; (iii) Class 3 - $0.49 per Common Unit; and (iv) Class 4 - $0.52 per Common Unit. The Waiver Units will also automatically convert to Common Units - Class A upon the six-month anniversary of the occurrence of the circumstances that give rise to the right of the holder to convert. The Waiver Units - Class 2 became convertible on August 14, 2012.
- [F3]Waiver Units that have not become convertible by January 1, 2021 shall, as of the close of business on such date, automatically be cancelled.