4//SEC Filing
O'Shea Donald C 4
Accession 0001237769-10-000082
CIK 0001481506other
Filed
Nov 2, 8:00 PM ET
Accepted
Nov 3, 8:00 PM ET
Size
10.0 KB
Accession
0001237769-10-000082
Insider Transaction Report
Form 4
O'Shea Donald C
Chief Accounting Officer
Transactions
- Award
Phantom Units
2010-11-02+7,500→ 7,500 total→ Common Units (7,500 underlying) - Award
Phantom Units
2010-11-02+7,500→ 7,500 total→ Common Units (7,500 underlying)
Footnotes (7)
- [F1]Grant of phantom units under Long-Term Incentive Plan (includes associated distribution equivalent rights (payable in cash)).
- [F2]One common unit is deliverable, upon vesting, for each Phantom Unit that vests.
- [F3]These Phantom Units will vest in equal 1/3 increments as follows: one-third will vest upon the later of the May 2012 distribution date and the date the Issuer pays a quarterly distribution of at least $0.3875 per unit; one-third will vest upon the later of the May 2013 distribution date and the date the Issuer pays a quarterly distribution of at least $0.450 per unit; and one-third will vest upon the later of the May 2014 distribution date and the date the Issuer pays a quarterly distribution of at least $0.475 per unit. The associated DERs will vest in equal 25% increments upon achieving quarterly distribution levels of $0.370, $0.390, $0.440 and $0.475 per unit.
- [F4]Any Phantom Units that have not vested as of the May 2015 distribution date, and any associated DERs, shall expire on such date.
- [F5]Grant of Phantom Units under Long-Term Incentive Plan.
- [F6]These Phantom Units will vest in equal 20% increments as follows: 20% will vest as of the date on which the Issuer's Series A Subordinated Units convert into Common Units; 20% will vest as of the date on which the first tranche of the Issuer's Series B Subordinated Units convert into Series A Subordinated Units or Common Units; 20% will vest as of the date on which the second tranche of the Issuer's Series B Subordinated Units convert into Series A Subordinated Units or Common Units; 20% will vest as of the date on which the third tranche of the Issuer's Series B Subordinated Units convert into Series A Subordinated Units or Common Units; and 20% will vest as of the date on which the fourth tranche of the Issuer's Series B Subordinated Units onvert into Series A Subordinated Units or Common Units. Converstion of the Series A Subordinated Units and Series B Subordinated Units is subject to certain performance conditions set forth in the Issuer's Second Amended and Restated Agreement of Limited Partnership.
- [F7]Any Phantom Units that remain outstanding as of January 1, 2018 shall expire without vesting on such date.
Documents
Issuer
PAA NATURAL GAS STORAGE LP
CIK 0001481506
Entity typeother
Related Parties
1- filerCIK 0001497874
Filing Metadata
- Form type
- 4
- Filed
- Nov 2, 8:00 PM ET
- Accepted
- Nov 3, 8:00 PM ET
- Size
- 10.0 KB