Kimbell Art Foundation 4
4 · Kimbell Royalty Partners, LP · Filed Sep 25, 2018
Insider Transaction Report
Form 4
Kimbell Art Foundation
10% Owner
Transactions
- Other
OpCo Common Units
2018-09-23+2,953,258→ 2,953,258 total→ Common units representing limited partner interests (2,953,258 underlying) - Other
Common units representing limited partner interests
2018-09-23−2,953,258→ 0 total
Footnotes (1)
- [F1]Pursuant to the terms of a Recapitalization Agreement, dated as of July 24, 2018, the reporting person exchanged all of its common units representing limited partner interests ("Common Units") of Kimbell Royalty Partners, LP (the "Issuer") for an equal number of (i) "OpCo Common Units," which represent limited liability company interests of Kimbell Royalty Operating, LLC (the "Operating Company"), and (ii) "Class B Units," which represent limited partner interests of the Issuer. Pursuant to the terms of an Exchange Agreement, dated as of September 23, 2018, OpCo Common Units, together with an equal number of Class B Units, are exchangeable on a one-on-one basis for Common Units at the discretion of the reporting person. The Issuer and the Operating Company have the option to deliver cash in lieu of Common Units upon the exercise by the reporting person of its exchange right.