Hi-Crush Partners LP 4
4 · Hi-Crush Partners LP · Filed Feb 13, 2015
Insider Transaction Report
Form 4
Alston Jeffries V. Jr
DirectorCOO and Director
Transactions
- Award
Phantom Units
2015-02-13+30,750→ 47,394 total→ Common Units (30,750 underlying)
Footnotes (1)
- [F1]The reporting person is a participant in the Partnership's Long-Term Incentive Plan (the "Plan") and received 30,750 phantom units on February 13, 2015. The phantom units vest as follows: if the Partnership's performance on average for each calendar quarter for the three-year period ending December 31, 2017 compared to the performance of entities in a designated peer group is (a) at the 75th percentile or above, 200% of the phantom units will vest, (b) at the 50th percentile, 100% of the units will vest, (c) at the 25th percentile, 50% of the units will vest, or (d) below the 25th percentile, 0% of the units will vest. The number of phantom units that will vest between applicable percentiles will be determined by straight-line interpolation. Each phantom unit represents the right to receive, upon vesting, one common unit representing limited partner interests in the Partnership, along with tandem distribution equivalent rights. The phantom units expire upon settlement.