TransMontaigne Partners L.P. 4
4 · TransMontaigne Partners L.P. · Filed Mar 4, 2016
Insider Transaction Report
Form 4
Pound Gregory J
President, COO
Transactions
- Award
Phantom Units
2016-03-02+5,842.828→ 13,312.334 total→ Common Units Representing Limited Partner Interest (5,842.828 underlying)
Footnotes (3)
- [F1]Each phantom unit represents the right to receive one common unit of TransMontaigne Partners L.P. ("TLP"), or the cash value thereof.
- [F2]Represents the 2016 annual award granted under the TLP Management Services LLC Savings and Retention Plan by the Compensation Committee of the Board of Directors of TLP Management Services LLC on March 2, 2016 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.
- [F3]Phantom units awarded under the Plan vest 50% as of the January 1 that falls closes 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 a change in control or 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.