4//SEC Filing
Davis Deborah A 4
Accession 0001127602-09-002497
CIK 0001319229other
Filed
Feb 2, 7:00 PM ET
Accepted
Feb 3, 9:06 PM ET
Size
14.5 KB
Accession
0001127602-09-002497
Insider Transaction Report
Form 4
Davis Deborah A
SVP, Chief Accounting Officer
Transactions
- Exercise/Conversion
Phantom Units
2009-01-30−1,474.14→ 5,779.68 total→ Common Units Representing Limited Partner Interest (1,474.14 underlying) - Award
Phantom Units
2009-01-30+1,565.23→ 7,253.82 total→ Common Units Representing Limited Partner Interest (1,565.23 underlying) - Exercise/Conversion
Common Units Representing Limited Partner Interest
2009-01-30+1,474.14→ 5,018.14 total - Disposition to Issuer
Common Units Representing Limited Partner Interest
2009-01-30$17.17/sh−1,474.14$25,311→ 3,544 total
Footnotes (7)
- [F1]Represents cash received upon settlement of phantom units granted under the Plan. The settlement of the phantom units for cash is reported on this Form 4 as a disposition of the phantom units in exchange for the acquisition of the underlying common units and a simultaneous disposition of the underlying common units to the issuer for cash. The value of the common units was determined as of the close of trading on January 30, 2009. See note 6 below.
- [F2]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, 50% of the Reporting Person's 2007 award of phantom units vested on January 1, 2009 and was valued as of the close of trading on January 30, 2009, which the Reporting Person is treating as the "settlement date" for the purposes of this Report. The payment of cash or issuance of units for such vested phantom units then occurs on the next regular payroll date that is at least three business days later. 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. See Table I and note 2 above.
- [F3]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. Accordingly, 50% of the Reporting Person's 2007 award of phantom units vested on January 1, 2009 and the remaining 50% of the 2007 award of phantom units will vest on January 1, 2010. The 2008 award of phantom units vests 50% on January 1, 2010, with the remaining 50% vesting on January 1, 2011. The 2009 award of phantom units vests 50% on January 1, 2011, with the remaining 50% vesting on January 1, 2012. 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.
- [F4]Represents the portion of the award granted under the Plan by the Board of Directors of TransMontaigne Inc. on January 30, 2009 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. There are various other investment funds available under the Plan and any portion of a grant not deemed to be invested in phantom units is not included in this Report. The awards were allocated among the investment funds available under the Plan, including phantom units, after the close of the market on January 30, 2009.
- [F5]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 in exchange for common units of TLP is reported on this Form 4 as a disposition of the phantom units being settled and a simultaneous acquisition of the underlying common units.
- [F6]Each phantom unit represents the right to receive one common unit of TLP, or the cash value thereof.
- [F7]$0
Documents
Issuer
TransMontaigne Partners L.P.
CIK 0001319229
Entity typeother
Related Parties
1- filerCIK 0001422494
Filing Metadata
- Form type
- 4
- Filed
- Feb 2, 7:00 PM ET
- Accepted
- Feb 3, 9:06 PM ET
- Size
- 14.5 KB