4//SEC Filing
Graves Brad N 4
Accession 0001209191-18-020279
CIK 0001549922other
Filed
Mar 15, 8:00 PM ET
Accepted
Mar 16, 5:19 PM ET
Size
24.1 KB
Accession
0001209191-18-020279
Insider Transaction Report
Form 4
Graves Brad N
See Remarks
Transactions
- Exercise/Conversion
Phantom Units
2018-03-15−6,015→ 0 total→ Common Units (6,015 underlying) - Exercise/Conversion
Common Units
2018-03-15+31,006→ 77,202 total - Disposition to Issuer
Distribution Equivalent Rights
2018-03-15−14,620→ 0 totalExercise: $4.60→ Common Units (14,620 underlying) - Tax Payment
Common Units
2018-03-15$15.25/sh−977$14,899→ 76,225 total - Disposition to Issuer
Distribution Equivalent Rights
2018-03-15−6,015→ 0 totalExercise: $6.88→ Common Units (6,015 underlying) - Exercise/Conversion
Phantom Units
2018-03-15−14,620→ 14,619 total→ Common Units (14,620 underlying) - Exercise/Conversion
Phantom Units
2018-03-15−10,371→ 20,740 total→ Common Units (10,371 underlying) - Disposition to Issuer
Distribution Equivalent Rights
2018-03-15−10,371→ 0 totalExercise: $2.30→ Common Units (10,371 underlying) - Award
Phantom Units
2018-03-15+40,983→ 40,983 total→ Common Units (40,983 underlying)
Footnotes (6)
- [F1]Each phantom unit is the economic equivalent of one common unit.
- [F2]The final one-third of the phantom units subject to the original award agreement vested on March 15, 2018, on the third anniversary of the March 15, 2015 grant date. The Reporting Person received distribution equivalent rights (DERs) for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.
- [F3]The phantom units and associated DERs 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.
- [F4]One-third of the phantom units subject to the original award agreement vested on March 15, 2018, with the final one-third of the phantom units subject to vesting on the third anniversary of the March 15, 2016 grant date, subject to continued employment. The Reporting Person received distribution equivalent rights (DERs) for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.
- [F5]One-third of the phantom units subject to the original award agreement vested on March 15, 2018, with the remaining phantom units subject to vesting on the second and third anniversaries of the March 15, 2017 grant date, subject to continued employment. The Reporting Person received DERs for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.
- [F6]One-third of the phantom units (rounded down to the nearest whole number of units, except in the case of the final vesting date) shall vest on each of the first, second and third anniversaries of the Grant Date (March 15, 2018), subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive distribution equivalent rights for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.
Documents
Issuer
Summit Midstream Partners, LP
CIK 0001549922
Entity typeother
Related Parties
1- filerCIK 0001371946
Filing Metadata
- Form type
- 4
- Filed
- Mar 15, 8:00 PM ET
- Accepted
- Mar 16, 5:19 PM ET
- Size
- 24.1 KB