4//SEC Filing
LEGACY RESERVES LP 4
Accession 0001140361-16-056696
CIK 0001358831operating
Filed
Mar 6, 7:00 PM ET
Accepted
Mar 7, 3:51 PM ET
Size
9.5 KB
Accession
0001140361-16-056696
Insider Transaction Report
Form 4
Brown Cary D
DirectorChairman and CEO10% Owner
Transactions
- Exercise/Conversion
Phantom Units
2016-02-18−7,157→ 341,900 total→ Units (7,157 underlying) - Exercise/Conversion
Units representing limited partner interests
2016-02-18+7,157→ 18,182 total
Holdings
- 3,606,565(indirect: See footnote)
Units representing limited partner interests
Footnotes (7)
- [F1]Each phantom unit represents the economic equivalent of a unit representing a limited partner interest in Legacy Reserves LP.
- [F2]The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these units in this report shall not be deemed an admission of beneficial ownership of all the reported units for the purposes of Section 16 or for any other purpose.
- [F3]Includes Mr. Brown's pecuniary interest in 406,827 units held by DAB Family Properties, Ltd., an entity partially owned by Brown Heirs 2012 Trust, of which Mr. Brown is a beneficiary.
- [F4]Includes 3,199,738 units held by Cary and Jill Brown Family Partners Ltd.
- [F5]Phantom units granted prior to March 3, 2014 vest annually in one-third increments on February 18th of each applicable year and are payable in units. Phantom units granted on or after March 3, 2014 vest on February 18th in the third year after grant and are payable in units.
- [F6]Pursuant to the achievement of certain objective, performance-based criteria, 789 of the phantom units eligible to vest for the year ended December 31, 2015, granted on March 7, 2013, vested, and 9,734 phantom units were forfeited. With respect to the subjective phantom unit grants, 6,368 phantom units (the third tranche of the 2013 subjective phantom unit grant) vested.
- [F7]Includes 88,500 phantom units and 253,400 phantom units from the phantom units granted on March 7, 2014 and February 24, 2015, respectively.
Documents
Issuer
LEGACY RESERVES LP
CIK 0001358831
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001358831
Filing Metadata
- Form type
- 4
- Filed
- Mar 6, 7:00 PM ET
- Accepted
- Mar 7, 3:51 PM ET
- Size
- 9.5 KB