4//SEC Filing
Smith Clark C. 4
Accession 0001209191-19-054850
CIK 0000805022other
Filed
Nov 3, 7:00 PM ET
Accepted
Nov 4, 3:31 PM ET
Size
42.5 KB
Accession
0001209191-19-054850
Insider Transaction Report
Form 4
Smith Clark C.
President & COO
Transactions
- Disposition to Issuer
Phantom Units
2019-11-01$41.50/sh−11,386$472,519→ 0 total→ Limited Partner Units (11,386 underlying) - Disposition to Issuer
Phantom Units
2019-11-01$41.50/sh−11,386$472,519→ 0 total→ Limited Partner Units (11,386 underlying) - Disposition to Issuer
Limited Partner Units
2019-11-01$41.50/sh−199,293$8,270,660→ 0 total - Disposition to Issuer
Limited Partner Units
2019-11-01$41.50/sh−15,293$634,660→ 0 total(indirect: By Trust) - Disposition to Issuer
Phantom Units
2019-11-01$41.50/sh−31,825$1,320,738→ 0 total→ Limited Partner Units (31,825 underlying) - Disposition to Issuer
Phantom Units
2019-11-01$41.50/sh−23,624$980,396→ 0 total→ Limited Partner Units (23,624 underlying) - Disposition to Issuer
Phantom Units
2019-11-01$41.50/sh−11,493$476,960→ 0 total→ Limited Partner Units (11,493 underlying) - Award
Performance Units
2019-11-01$43.75/sh+98,827$4,323,681→ 98,827 total→ Limited Partner Units (98,827 underlying) - Disposition to Issuer
Performance Units
2019-11-01$48.29/sh−63,650$3,073,659→ 0 total→ Limited Partner Units (63,650 underlying) - Disposition to Issuer
Phantom Units
2019-11-01$41.50/sh−11,493$476,960→ 0 total→ Limited Partner Units (11,493 underlying) - Disposition to Issuer
Performance Units
2019-11-01$43.75/sh−98,827$4,323,681→ 0 total→ Limited Partner Units (98,827 underlying) - Award
Performance Units
2019-11-01$48.29/sh+63,650$3,073,659→ 63,650 total→ Limited Partner Units (63,650 underlying) - Award
Performance Units
2019-11-01$53.30/sh+47,248$2,518,318→ 47,248 total→ Limited Partner Units (47,248 underlying) - Disposition to Issuer
Phantom Units
2019-11-01$41.50/sh−49,413$2,050,640→ 0 total→ Limited Partner Units (49,413 underlying) - Disposition to Issuer
Phantom Units
2019-11-01$41.50/sh−11,210$465,215→ 0 total→ Limited Partner Units (11,210 underlying) - Disposition to Issuer
Phantom Units
2019-11-01$41.50/sh−11,210$465,215→ 0 total→ Limited Partner Units (11,210 underlying) - Disposition to Issuer
Performance Units
2019-11-01$53.30/sh−47,248$2,518,318→ 0 total→ Limited Partner Units (47,248 underlying)
Footnotes (6)
- [F1]On November 1, 2019, affiliates of IFM Global Infrastructure Fund ("IFM") acquired Buckeye Partners, L.P. ("BPL") pursuant to that certain Agreement and Plan of Merger, dated as of May 10, 2019, among BPL, Hercules Intermediate Holdings LLC, a Delaware limited liability company and a wholly owned subsidiary of IFM, Hercules Merger Sub LLC, a Delaware limited liability company and a wholly owned subsidiary of IFM ("Merger Sub"), Buckeye Pipe Line Services Company, a Pennsylvania corporation, and Buckeye GP LLC, a Delaware limited liability company (the "Merger Agreement"). In accordance with the Merger Agreement, BPL will merge with and into Merger Sub (the "Merger") with BPL surviving the Merger as a wholly owned subsidiary of IFM. At the effective time of the Merger, each outstanding limited partnership unit representing limited partner interests in BPL was converted into the right to receive $41.50 in cash, without interest.
- [F2]The Reporting Person disclaims beneficial ownership of these securities because the Reporting Person is not the trustee of the trust and does not exercise any control over the trustee or derive any economic benefit from the securities. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
- [F3]Pursuant to the Merger Agreement, on November 1, 2019, these phantom units were cancelled in exchange for a cash payment of $41.50 per unit, without interest. Each phantom unit is the economic equivalent of one limited partner unit of BPL.
- [F4]On February 5, 2019, the Reporting Person was granted 98,827 performance units ("Performance Units"). Pursuant to the Merger Agreement, these Performance Units were cancelled in exchange for a cash payment of $41.50 per unit, without interest, plus the value of accumulated but unpaid distribution equivalent rights with respect to such unit as of November 1, 2019.
- [F5]On February 6, 2018, the Reporting Person was granted 63,650 performance units ("Performance Units"). Pursuant to the Merger Agreement, these Performance Units were cancelled in exchange for a cash payment of $41.50 per unit, without interest, plus the value of accumulated but unpaid distribution equivalent rights with respect to such unit as of November 1, 2019.
- [F6]On February 7, 2017, the Reporting Person was granted 47,248 performance units ("Performance Units"). Pursuant to the Merger Agreement, these Performance Units were cancelled in exchange for a cash payment of $41.50 per unit, without interest, plus the value of accumulated but unpaid distribution equivalent rights with respect to such unit as of November 1, 2019.
Documents
Issuer
BUCKEYE PARTNERS, L.P.
CIK 0000805022
Entity typeother
Related Parties
1- filerCIK 0001414680
Filing Metadata
- Form type
- 4
- Filed
- Nov 3, 7:00 PM ET
- Accepted
- Nov 4, 3:31 PM ET
- Size
- 42.5 KB