MALQUIST MALYN K 4
4 · TC PIPELINES LP · Filed Jan 3, 2020
Insider Transaction Report
Form 4
MALQUIST MALYN K
Director
Transactions
- Award
Deferred Share Units
2019-12-31$42.30/sh+473$20,008→ 19,880 total→ Common units representing limited partner interest (473 underlying)
Footnotes (3)
- [F1]Upon termination of service as a director, Deferred Share Units ("DSUs") recorded in the reporting person's account will be settled, at the reporting person's election, in common units representing a limited partner interest in TC PipeLines, LP ("Common Units") at no additional cost on a 1 for 1 basis or in cash of equivalent value, less any applicable withholdings.
- [F2]The DSUs are immediately fully vested and are redeemable only following Mr. Malquist's termination of Board service.
- [F3]Represents the automatic grant of DSUs made to Mr. Malquist on a quarterly basis as part of his annual board compensation. The number of DSUs is calculated based on the Fair Market Value of the Common Units on the last trading day of the quarterly payment period.