Current Report Filing (8-k)
July 30 2018 - 4:17PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 27, 2018
Westlake Chemical Partners LP
(Exact name of registrant as specified in its charter)
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Delaware
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001-36567
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32-0436529
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(State or other jurisdiction of
incorporation or organization)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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2801 Post Oak Boulevard, Suite 600
Houston, Texas
(Address
of principal executive office) (Zip Code)
(713)
585-2900
Registrants telephone number, including area code
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of
this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.03
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Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
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On July 27, 2018, Westlake Chemical Partners GP LLC (the
General Partner
) entered into Amendment No. 2 (the
Amendment
) to the First Amended and Restated Agreement of Limited Partnership of Westlake Chemical Partners LP (the
Partnership
) dated as of August 4, 2014, as amended by Amendment No. 1
thereto dated as of November 16, 2017 (as so amended, the
Partnership Agreement
), pursuant to which the target distribution thresholds above which the Incentive Distribution Rights (as defined in the Partnership
Agreement) are entitled to receive the corresponding portion of distributions paid by the Partnership were increased as follows:
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Quarterly Distribution per Unit
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Unitholders
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Incentive
Distribution Rights
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First Target Distribution
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$1.2938
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100%
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0%
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Second Target Distribution
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$1.4063
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85%
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15%
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Third Target Distribution
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$1.6875
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75%
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25%
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Thereafter
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> $1.6875
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50%
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50%
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The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by
reference to the complete text of the Amendment, a copy of which is filed as
Exhibit 3.1
to this Current Report and is incorporated herein by reference.
Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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WESTLAKE CHEMICAL PARTNERS LP
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By:
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Westlake Chemical Partners GP LLC, its general partner
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Dated: July 30, 2018
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By:
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/s/ Albert Chao
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Albert Chao
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President and Chief Executive Officer
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3
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