Copano Energy, L.L.C. 4

4 · Copano Energy, L.L.C. · Filed Jun 14, 2007

Form 4

Period: 2007-02-14

SVP & CFO

Transactions

Exercise/Conversion
Common Units
2007-02-14+105,616→ 152,778 total
Award
Phantom Units
2007-06-12+3,850→ 34,750 total
→ Common Units (3,850 underlying)
Exercise/Conversion
Subordinated Units
2007-02-14−105,616→ 0 total
→ Common Units (105,616 underlying)

Holdings

Footnotes (6)

[F1]These common units were received in exchange for the subordinated units listed in Table II. The subordinated units were automatically converted into common units on a one-for-one basis upon the determination by the Board of Directors that the Company had met certain financial tests.
[F2]The Reporting Person's 1.18% interest in Copano Partners, L.P. is held indirectly through a grantor trust of which he is the sole beneficiary. The Reporting Person is one of four trustees of the trust and shares voting and investment control over the trust assets.
[F3]On February 14, 2007, the subordinated units were autormatically converted into common units on a one-for-one basis upon the determination by the Board of Directors that the Company had met certain financial tests.
[F4]The phantom units were granted pursuant to the Company's Long-Term Incentive Plan.
[F5]The phantom units will be paid in common units, cash or a combination thereof, at the option of the Company, based on the closing price of the common units on the date of vesting.
[F6]The phantom units vest annually in five equal installments commencing May 15, 2008 and earlier in the event of the death, disability or retirement of the grantee or a change in control of the Company.

Documents

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