GENESIS ENERGY LP 4
4 · GENESIS ENERGY LP · Filed Nov 19, 2014
Insider Transaction Report
Form 4
SIMS GRANT E
DirectorChief Executive Officer
Transactions
- Exercise/Conversion
Waiver Units - Class 4
2014-11-17−198,459→ 0 totalExercise: $0.00From: 2014-11-14Exp: 2021-01-01→ Common Units - Class A (198,459 underlying) - Exercise/Conversion
Common Units - Class A
2014-11-17+198,459→ 2,980,860 total
Footnotes (4)
- [F1]The reporting person elected to convert 198,459 Waiver Units Class 4 on November 17, 2014, which comprised all of the Waiver Units of that class owned by the reporting person. The Waiver Units Class 4 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 4 converted.
- [F2]1,000 of these Common Units - Class A are held by the reporting person's father. The reporting person disclaims beneficial ownership of these units.
- [F3]The Waiver Units, among other rights, preferences and privileges, are entitled to quarterly distributions of $0.001786 per Waiver Unit and are convertible 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 Class A 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 1, Waiver Units Class 2 and Waiver Units Class 3 have previously converted to Common Units Class A. The Waiver Units Class 4 became convertible on November 14, 2014.
- [F4]Waiver Units that had not become convertible by January 1, 2021 would have, as of the close of business on such date, automatically been cancelled.