4//SEC Filing
Davis Deborah A 4
Accession 0001127602-10-003204
CIK 0001319229other
Filed
Feb 1, 7:00 PM ET
Accepted
Feb 2, 8:20 PM ET
Size
14.1 KB
Accession
0001127602-10-003204
Insider Transaction Report
Form 4
Davis Deborah A
SVP, Chief Accounting Officer
Transactions
- Exercise/Conversion
Common Units Representing Limited Partner Interest
2010-01-29+3,161.84→ 6,705.84 total - Disposition to Issuer
Common Units Representing Limited Partner Interest
2010-01-29$27.22/sh−3,161.84$86,065→ 3,544 total - Award
Phantom Units
2010-01-29+2,250.18→ 8,675.23 total→ Common Units Representing Limited Partner Interest (2,250.18 underlying) - Exercise/Conversion
Phantom Units
2010-01-29−3,161.84→ 5,513.39 total→ Common Units Representing Limited Partner Interest (3,161.84 underlying)
Footnotes (6)
- [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. See note 5 below for the vesting provisions under the Plan.
- [F2]Each phantom unit represents the right to receive one common unit of TLP, or the cash value thereof.
- [F3]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 29, 2010.
- [F4]Represents the portion of the award granted under the Plan by the Board of Directors of TransMontaigne Inc. on January 29, 2010 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 29, 2010.
- [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]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 remaining 50% of the Reporting Person's 2007 award of phantom units and the first 50% of the Reporting Person's 2008 award of phantom units vested on January 1, 2010 and was valued as of the close of trading on January 29, 2010, 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 1 above.
Documents
Issuer
TransMontaigne Partners L.P.
CIK 0001319229
Entity typeother
Related Parties
1- filerCIK 0001422494
Filing Metadata
- Form type
- 4
- Filed
- Feb 1, 7:00 PM ET
- Accepted
- Feb 2, 8:20 PM ET
- Size
- 14.1 KB