PennTex Midstream Partners, LP 4

4 · PennTex Midstream Partners, LP · Filed Jun 14, 2016

Form 4

Period: 2016-06-10

SEE REMARKS

Transactions

Exercise/Conversion
COMMON UNITS
2016-06-10+16,333→ 24,333 total
Award
PHANTOM UNITS (RIGHTS TO COMMON UNITS)
2016-06-10+26,770→ 26,770 total
→ COMMON UNITS (LIMITED PARTNER INTERESTS) (26,770 underlying)
Exercise/Conversion
PHANTOM UNITS (RIGHTS TO COMMON UNITS)
2016-06-10−16,333→ 32,667 total
→ COMMON UNITS (LIMITED PARTNER INTERESTS) (16,333 underlying)

Footnotes (5)

[F1]The phantom units expire upon settlement. Upon vesting, the phantom units are settled in common units (on a one-for-one basis) or, at the discretion of the Issuer, in cash.
[F2]Represents the settlement of phantom units granted on June 10, 2015, subject to a Phantom Unit Agreement, under the PennTex Midstream Partners, LP 2015 Long-Term Incentive Plan (the "2015 LTIP").
[F3]The phantom units granted on June 10, 2015 vest in the following intervals: (i) 16,333 phantom units on June 10, 2016, (ii) 16,333 phantom units on June 10, 2017, and (iii) 16,334 phantom units on June 10, 2018.
[F4]Represents phantom units granted on June 10, 2016, subject to a Phantom Unit Agreement, under the 2015 LTIP.
[F5]The phantom units vest in the following intervals: (i) 8,923 phantom units on June 10, 2017, (ii) 8,923 phantom units on June 10, 2018, and (iii) 8,924 phantom units on June 10, 2019.

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