Western Refining Logistics, LP 4
4 · Western Refining Logistics, LP · Filed Aug 7, 2015
Insider Transaction Report
Form 4
KINDER DAVID D
Director
Transactions
- Award
Phantom Units
2015-08-05+3,104→ 4,825 total→ Common Units (3,104 underlying)
Footnotes (3)
- [F1]Each phantom unit represents a contingent right to receive one common unit representing a limited partner interest in WNRL or, at the election of the Board of Directors (the "Board") of Western Refining Logistics GP, LLC, the general partner of WNRL, or such committee as may be appointed by the Board, the cash value thereof. The phantom units were awarded as compensation for service as a director.
- [F2]The phantom units are scheduled to vest on September 27, 2016. Upon vesting, the vested common units underlying the phantom units, or the value thereof, will be delivered to the reporting person on or promptly following the vesting date applicable thereto, but not later than the 70th calendar day following the vesting of the phantom units.
- [F3]This number of derivative securities, awarded as compensation for service as a director, includes (a) 3,104 phantom units which are scheduled to vest on September 27, 2016, and (b) 1,721 phantom units which are scheduled to vest on September 25, 2015.