JP Energy Partners LP 4
4 · JP Energy Partners LP · Filed Apr 5, 2016
Insider Transaction Report
Form 4
Chen Shiming
SEE REMARKS
Transactions
- Exercise/Conversion
COMMON UNITS (LIMITED PARTNER INTERESTS)
2016-04-01$5.33/sh+10,212$54,430→ 11,741 total - Tax Payment
COMMON UNITS (LIMITED PARTNER INTERESTS)
2016-04-01$5.33/sh−2,795$14,897→ 8,946 total - Award
PHANTOM UNITS (with DERs)
2016-04-01+17,000→ 41,424 total→ COMMON UNITS (17,000 underlying) - Exercise/Conversion
PHANTOM UNITS (with DERs)
2016-04-01−10,212→ 24,424 total→ COMMON UNITS (10,212 underlying)
Holdings
- 6,240
SUBORDINATED UNITS (LIMITED PARTNER INTERESTS)
→ COMMON UNITS (6,240 underlying)
Footnotes (5)
- [F1]The Reporting Person's disposal of the securities represents units withheld for satisfaction of a tax withholding obligation arising as a result of the partial vesting of phantom units granted previously.
- [F2]Each phantom unit is the economic equivalent of one common unit and is accompanied by a distribution equivalent right, entitling the holder to an amount equal to any cash distributions paid on each of the Partnership's common units.
- [F3]The phantom units vest in three equal annual installments. Of the phantom units granted on July 7, 2015, 2 installments totaling 14,450 units vest April 1, 2017 and April 1, 2018, respectively. Of the phantom units granted on April 1, 2015, 4,000 units vest in one single installment on April 1, 2018. All remaining phantom units vest commencing on each of the first, second and third anniversaries of the grant date.
- [F4]The phantom units do not expire. The phantom units are settled upon vesting in common units (on a one-for-one basis) or in cash, at the discretion of the Issuer.
- [F5]Each subordinated unit will convert into one common unit at the end of the subordination period, as described in Registration Statement.