DENNEY ARTHUR J 4
4 · MARKWEST ENERGY PARTNERS L P · Filed Sep 2, 2004
Insider Transaction Report
Form 4
DENNEY ARTHUR J
DirectorSr. Exec. Vice President, COO
Transactions
- Exercise/Conversion
Phantom units
2004-08-23−1,250→ 0 total→ Common units (1,250 underlying) - Exercise/Conversion
Common units
2004-08-23+1,250→ 3,250 total
Footnotes (2)
- [F1]1 for 1
- [F2]Under the phantom unit grant agreement, the settlement of the phantom units occurs automatically as the phantom units vest, which results in a deemed automatic expiration of the vested portion of the phantom units upon settlement. The phantom units vest generally over a period of four years, with 25% vesting at the end of the second and third years after the date of grant, and 50% vesting at the end of the fourth year after the date of grant. The vesting may be accelerated in certain instances if the issuer achieves certain unitholder distribution targets.