Lehigh Gas Partners LP 4
4 · Lehigh Gas Partners LP · Filed Mar 18, 2014
Insider Transaction Report
Form 4
Miller Mark L.
Chief Financial Officer
Transactions
- Award
Phantom Units
2014-03-14+1,907→ 1,907 totalExercise: $0.00→ Common Units (0 underlying) - Exercise/Conversion
Common Units
2014-03-15+12,053→ 12,053 total - Exercise/Conversion
Phantom Units
2014-03-15−17,815→ 36,168 totalExercise: $0.00→ Common Units (0 underlying)
Footnotes (4)
- [F1]These common units were acquired as a result of the conversion of phantom units issued in March 2013 which vested on March 15, 2014, less any common units withheld for payment of applicable withholding taxes. Each phantom unit is the economic equivalent of one common unit.
- [F2]The phantom units vested on March 15, 2014.
- [F3]Phantom units will vest 33% on March 15, 2015, 33% on March 15, 2016, and 34% on March 15, 2017, and, when vested, can be converted into either cash or common units, at the discretion of the Issuer (on a basis that is no greater than one common unit of the Issuer. Each phantom unit is the economic equivalent of one common unit representing a limited partner interest in Lehigh Gas Partners LP.
- [F4]Represents phantom units under the Lehigh Gas Partners LP 2012 Incentive Plan issued to the reporting person in connection with the Issuer's annual incentive program. The number of phantom units issued was based on the value of the award to the reporting person (less any cash received) and closing price ($26.89) of the Issuer's common units on March 13, 2014, the date prior to the grant date.