4//SEC Filing
TransMontaigne Partners L.P. 4
Accession 0001104659-15-008387
CIK 0001319229operating
Filed
Feb 9, 7:00 PM ET
Accepted
Feb 10, 9:40 PM ET
Size
16.1 KB
Accession
0001104659-15-008387
Insider Transaction Report
Form 4
Pound Gregory J
President, COO
Transactions
- Disposition to Issuer
Common Units Representing Limited Partnership Interest
2015-02-06$36.80/sh−5,734.168$211,017→ 23,026.34 total - Exercise/Conversion
Phantom Units
2015-02-06−5,734.168→ 4,577.828 total→ Common Units Representing Limited Partner Interest (5,734.168 underlying) - Exercise/Conversion
Common Units Representing Limited Partnership Interest
2015-02-06+5,734.168→ 28,760.508 total - Award
Phantom Units
2015-02-09+5,380.435→ 9,958.263 total→ Common Units Representing Limited Partner Interest (5,380.435 underlying) - Award
Phantom Units
2015-02-06+179.465→ 10,137.728 total→ Common Units Representing Limited Partner Interest (179.465 underlying)
Footnotes (7)
- [F1]Represents the settlement of phantom units granted under the Amended and Restated Savings and Retention Plan (the "Plan"). Pursuant to applicable SEC reporting requirements, the settlement of the phantom units for cash is reported on this Form 4 as a disposition of the phantom units being settled in exchange for the acquisition of the underlying units and a simultaneous disposition of the underlying units to the issuer for cash.
- [F2]Each phantom unit represents the right to receive one common unit of TransMontaigne Partners L.P. ("TLP"), or the cash value thereof.
- [F3]For phantom units settled in cash, the value of the vested portion of a grant is determined as of the last exchange trading day of the month of January in which such grant vests. Accordingly, the first 50% of the Reporting Person's 2013 award and the second 50% of the Reporting Person's 2012 award of phantom units vested on January 1, 2015 and was valued at the closing price on January 30, 2015. The form of settlement was approved by Plan Administrator on February 6, 2015, which is deemed the "settlement date" for the purposes of this Report. The payment of cash for such vested phantom units then occurs on the next regular payroll date that is at least three business days later.
- [F4]Pursuant to the applicable SEC reporting requirements, the settlement of the phantom units for cash is reported on this Form 4 as a disposition of the phantom units being settled in exchange for the acquisition of the underlying units and a simultaneous disposition of the underlying units to the Issuer for cash. See Table I.
- [F5]Phantom units awarded under the Plan vest 50% as of the January 1 that falls closest to the second anniversary of the grant date, with the remaining 50% vesting as of the January 1 that falls closest to the third anniversary of the grant date. The phantom units are subject to earlier vesting upon achieving certain age or service thresholds as defined in the Plan. Upon vesting, phantom units may be paid out, in the sole discretion of the Plan Administrator, in cash or in common units of TLP, or a combination thereof.
- [F6]Represents additional phantom units granted to the Reporting Person under the Plan as a result of the quarterly distribution declared on the common units of TLP for the period ended December 31, 2014. Under the Plan, in lieu of a cash distribution in respect of phantom units, each Plan participant receives additional phantom units equal in value to the aggregate quarterly distribution allocable to the phantom units held by such participant.
- [F7]Represents the 2015 annual award granted under the Plan by the Compensation Committee of the Board of Directors of TransMontaigne LLC on February 9, 2015 that has been deemed to be invested in "phantom units," as if invested in an investment fund that tracks the financial performance of the common units of TLP.
Documents
Issuer
TransMontaigne Partners L.P.
CIK 0001319229
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001319229
Filing Metadata
- Form type
- 4
- Filed
- Feb 9, 7:00 PM ET
- Accepted
- Feb 10, 9:40 PM ET
- Size
- 16.1 KB