MARSHALL DAVID 4
4 · TC PIPELINES LP · Filed Jan 20, 2010
Insider Transaction Report
Form 4
TC PIPELINES LPTCLP
MARSHALL DAVID
Director
Transactions
- Award
Deferred Share Units
2010-01-19+791→ 2,785 total→ Common units representing limited p/ship interests (791 underlying)
Footnotes (2)
- [F1]N/A - Upon termination of board service, Common Units representing limited partnership interests may be purchased on the open market on behalf of Mr. Marshall whereby he would receive Common Units in a number equal to the number of Deferred Share Units ("DSUs") recorded in his account less any applicable withholdings. Alternatively, Mr. Marshall may elect to receive the value of his DSU entitlement in cash. The cash payment amount shall be determined by multiplying the number of DSUs recorded in his account by the Fair Market Value of a Common Unit less any applicable withholdings.
- [F2]N/A - the DSUs are fully vested and are redeemable only following Mr. Marshall's termination of Board service.