PetroLogistics LP 4
4 · PetroLogistics LP · Filed Jul 18, 2014
Insider Transaction Report
Form 4
Jeans Hank
Senior VP - Commercial
Transactions
- Disposition to Issuer
Common Units representing limited partner interests
2014-07-16−332,836→ 0 total - Disposition to Issuer
Phantom Units
2014-07-16−29,412→ 0 total→ Common Units (29,412 underlying)
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger and Membership Interest Transfer Agreement, dated as of May 27, 2014, by and among the issuer, PetroLogistics GP LLC, Propylene Holdings LLC, Flint Hill Resources, LLC and FHR Propylene, LLC (the "Merger Agreement"), all of the common units and phantom units held by the reporting person were cancelled and converted into the right to receive $14.00 per common unit, subject to any required withholding taxes, and the right to receive a final one-time cash distribution in accordance with the provisions of the Merger Agreement and which will be calculated to approximate the distribution that would have otherwise been paid for the period through the closing date of the merger, subject to an additional reserve to cover a portion of the merger-related costs of the issuer on the effective date of the merger.
- [F2]Each phantom unit was the economic equivalent of one common unit and was accompanied by a distribution equivalent right entitling the holder to an amount of cash equal to the value of any cash distributions paid on each of the issuer's common units during the period in which the phantom unit was held. Phantom units vested into common units on a one-for-one basis annually.