Hi-Crush Partners LP 4
4 · Hi-Crush Partners LP · Filed Feb 13, 2015
Insider Transaction Report
Form 4
McEver Chad M.
Vice President
Transactions
- Award
Phantom Units
2015-02-13+1,550→ 1,550 total→ Common Units (1,550 underlying) - Award
Phantom Units
2015-02-13+1,550→ 3,100 total→ Common Units (1,550 underlying)
Footnotes (2)
- [F1]The reporting person is a participant in the Partnership's Long-Term Incentive Plan (the "Plan") and received 1,550 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.
- [F2]The reporting person received 1,550 phantom units on February 13, 2015. The phantom units will vest if the reporting person remains employed at the end of a three-year vesting period. 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.