Statement of Changes in Beneficial Ownership (4)
May 07 2020 - 11:06AM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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BOYLAN PETER C |
2. Issuer Name and Ticker or Trading Symbol
Cypress Environmental Partners, L.P.
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CELP
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) See Remarks |
(Last)
(First)
(Middle)
C/O CYPRESS ENVIRONMENTAL PARTNERS, L.P., 5727 S. LEWIS AVE., SUITE 300 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
5/6/2020 |
(Street)
TULSA, OK 74105
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Phantom Units (Limited Partner Interests) | (1) | 5/6/2020 | | A | | 125000 | | (2) | (3) | Common Units (Limited Partner Interests) | 125000 | (1) | 125000 | D | |
Explanation of Responses: |
(1) | Each phantom unit is the economic equivalent of one common unit. |
(2) | On May 6, 2020, the Reporting Person was granted 125,000 phantom units which vest in equal installments on April 1, 2023, 2024 and 2025, subject to Reporting Person's continued service with the Issuer through the applicable vesting dates. |
(3) | The phantom units expire on settlement. The phantom units are settled upon vesting in common units (on a one-for-one basis) or in cash, at the discretion of the Issuer. |
Remarks: The Reporting Person is Chairman of the Board, President and Chief Executive Officer of Cypress Environmental Partners GP, LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the directors and executive officers of the General Partner. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
BOYLAN PETER C C/O CYPRESS ENVIRONMENTAL PARTNERS, L.P. 5727 S. LEWIS AVE., SUITE 300 TULSA, OK 74105 | X |
| See Remarks |
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Signatures
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/s/ Jonathan M. Cinocca, Attorney-in-Fact for Peter C. Boylan III | | 5/7/2020 |
**Signature of Reporting Person | Date |
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