Mirosh Walentin 4
4 · TC PIPELINES LP · Filed Jul 2, 2020
Insider Transaction Report
Form 4
Mirosh Walentin
Director
Transactions
- Award
Deferred Share Units
2020-06-30$31.06/sh+644$20,003→ 22,891 total→ Common units representing limited partner interest (644 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. Mirosh's termination of Board service.
- [F3]Represents the automatic grant of DSUs made to Mr. Mirosh 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.