Hoskin James R returned 2,402 units of Common Units to the company, closing all direct ownership in the company (SEC Form 4)

$MMP
Natural Gas Distribution
Energy
Get the next $MMP alert in real time by email
SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
X
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Hoskin James R

(Last) (First) (Middle)
ONE WILLIAMS CENTER

(Street)
TULSA OK 74172

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Magellan Midstream Partners, L.P. [ MMP ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Senior Vice President
3. Date of Earliest Transaction (Month/Day/Year)
09/25/2023
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Units 09/25/2023 D 2,402 D (1) 0 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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 (Month/Day/Year) 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: 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 (2) 09/25/2023 D 10,253 (2) (2) Common Units 10,253 (2) 0 D
Phantom Units (3) 09/25/2023 D 20,510 (3) (3) Common Units 20,510 (3) 0 D
Explanation of Responses:
1. Pursuant to the Agreement and Plan of Merger, dated as of May 14, 2023 (the "Merger Agreement"), by and among ONEOK, Inc. ("ONEOK"), Otter Merger Sub LLC, and Magellan Midstream Partners, L.P. ("Magellan"), each unit of Magellan (the "Magellan Unit") issued and outstanding immediately prior to the time of the merger became effective (the "Effective Time"), was converted into the right to receive 0.667 shares of ONEOK common stock (the "ONEOK Common Stock"). On September 25, 2023, the closing price of one share of ONEOK common stock was $66.54.
2. Pursuant to the Merger Agreement, each award of phantom units of Magellan ("Magellan Award") based solely on the passage of time that was outstanding at the Effective Time was assumed by ONEOK and converted, on the same terms and conditions of such Magellan Award, into a restricted stock unit award of ONEOK equal to the product obtained by multiplying (x) the number of Magellan Units underlying the Magellan Award by (y) the Equity Exchange Ratio (as defined in the Merger Agreement) and rounded up or down to the nearest whole share of ONEOK Common Stock.
3. Pursuant to the Merger Agreement, each Magellan Award based on performance metrics that was outstanding at the Effective Time was assumed by ONEOK and converted, on the same terms and conditions of such Magellan Award, into a restricted stock unit award of ONEOK equal to the product obtained by multiplying (x) the number of Magellan Units underlying the Magellan Award, assuming achievement of the applicable performance-based vesting condition at the maximum level, by (y) the Equity Exchange Ratio (as defined in the Merger Agreement) and rounded up or down to the nearest whole share of ONEOK Common Stock.
By: Richard Carson, Attorney-in fact for James R. Hoskin 09/27/2023
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
Get the next $MMP alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$MMP

DatePrice TargetRatingAnalyst
8/16/2023Hold → Sell
Argus
5/18/2023$59.00 → $66.00Outperform → Sector Perform
RBC Capital Mkts
5/18/2023$61.00 → $64.00Buy → Hold
Stifel
5/17/2023$57.00 → $63.00Buy → Neutral
Citigroup
5/17/2023$59.00 → $66.00Outperform → Sector Perform
RBC Capital Mkts
4/21/2023Outperform → Mkt Perform
Raymond James
1/18/2023$59.00Equal Weight → Overweight
Barclays
12/16/2022$57.00 → $56.00Overweight → Equal Weight
Wells Fargo
More analyst ratings

$MMP
Press Releases

Fastest customizable press release news feed in the world

See more
  • TortoiseEcofin Announces Revision of Timing of Constituent Changes Due to Corporate Action

    LEAWOOD, KS / ACCESSWIRE / September 25, 2023 / TortoiseEcofin today announced a revision of timing of the removal of Magellan Midstream Partners, L.P. (NYSE:MMP) from the Tortoise MLP Index® (TMLP), and the Tortoise North American Pipeline IndexSM (TNAP) as a result of the approved acquisition by ONEOK, Inc. (NYSE:OKE). Due to the acquisition, MMP will be removed from both indices at market close on Monday, September 25, 2023.MMP will be dropped from Tortoise MLP Index® (TMLP) and Tortoise North American Pipeline IndexSM (TNAP) with a special rebalancing.About TortoiseEcofinTortoiseEcofin focuses on essential assets - those assets and services that are indispensable to the economy and socie

    $MMP
    $OKE
    $TEAF
    Natural Gas Distribution
    Energy
    Oil & Gas Production
    Utilities
  • ONEOK Announces Completion of Magellan Midstream Partners Acquisition

    TULSA, Okla., Sept. 25, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) (ONEOK) today announced that it has completed its acquisition of Magellan Midstream Partners, L.P. (Magellan), creating a more diversified North American midstream infrastructure company focused on delivering essential energy products and services to its customers, and continued strong returns to investors. The transaction was approved by ONEOK shareholders and Magellan unitholders at their respective special meetings held on September 21, 2023. "This is a significant day for Tulsa and the industry as we bring together the talented ONEOK and Magellan teams and look to the future as one company," said Pierce H. Norton II, ON

    $MMP
    $OKE
    Natural Gas Distribution
    Energy
    Oil & Gas Production
    Utilities
  • TortoiseEcofin Announces Constituent Changes Due to Corporate Action

    LEAWOOD, KS / ACCESSWIRE / September 22, 2023 / TortoiseEcofin today announced that Magellan Midstream Partners, L.P. (NYSE:MMP) will be removed from the Tortoise MLP Index® (TMLP), and the Tortoise North American Pipeline IndexSM (TNAP) as a result of the approved acquisition by ONEOK, Inc. (NYSE:OKE). Due to the acquisition, MMP will be removed from both indices at market open on Monday, September 25, 2023.MMP will be dropped from Tortoise MLP Index® (TMLP) and Tortoise North American Pipeline IndexSM (TNAP) with a special rebalancing.About TortoiseEcofinTortoiseEcofin focuses on essential assets - those assets and services that are indispensable to the economy and society. We strive to ma

    $MMP
    $OKE
    $TEAF
    Natural Gas Distribution
    Energy
    Oil & Gas Production
    Utilities

$MMP
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$MMP
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$MMP
SEC Filings

See more

$MMP
Leadership Updates

Live Leadership Updates

See more
  • Magellan Midstream Announces April 30 Retirement of Chief Executive Officer, Names Successor

    TULSA, Okla., Jan. 26, 2022 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE:MMP) announced today that Michael Mears will retire on April 30. Mears has served as president, chief executive officer and chairman of the board for Magellan since 2011. Aaron Milford, 48, will succeed Mears as president and chief executive officer and will become a board member effective May 1. Currently, Milford serves as the partnership's chief operating officer. At the same time, Barry Pearl, who now serves as lead director, will become chairman of the board, separating the roles of chairm

    $MMP
    Natural Gas Distribution
    Energy

$MMP
Financials

Live finance-specific insights

See more
  • ONEOK Shareholders and Magellan Unitholders Approve Merger

    Transaction to Close on September 25, 2023 TULSA, Okla., Sept. 21, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) ("ONEOK") and Magellan Midstream Partners, L.P. (NYSE:MMP) ("Magellan") today announced that, at their respective Special Meetings, ONEOK shareholders and Magellan unitholders approved the previously announced merger. "We are very pleased with the strong support from ONEOK shareholders and Magellan unitholders, which reflects their belief in the power of our combination," said Pierce H. Norton II, ONEOK president and chief executive officer. "Having achieved this important milestone, we look forward to closing on September 25 and moving forward as one company with a continued commi

    $MMP
    $OKE
    Natural Gas Distribution
    Energy
    Oil & Gas Production
    Utilities
  • Magellan Midstream Declares Special Cash Distribution

    TULSA, Okla., Sept. 11, 2023 /PRNewswire/ -- The board of directors of Magellan Midstream Partners, L.P. (NYSE:MMP) has declared a special cash distribution expected to equal 24.74 cents per unit payable on Sept. 25 to unitholders of record at the close of business on Sept. 21. The right to issue this special distribution was negotiated as part of our pending merger with ONEOK, Inc., providing us the option to pay up to $50 million, or 24.74 cents per unit based on the 202.1 million units currently outstanding, if the merger has not closed by Sept. 14 and if we have generated

    $MMP
    Natural Gas Distribution
    Energy
  • Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend ONEOK Shareholders Vote "FOR" Pending Acquisition of Magellan Midstream Partners

    TULSA, Okla., Sept. 7, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced that the two leading proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co. (Glass Lewis), have recommended that ONEOK shareholders vote in favor of all proposals related to ONEOK's pending acquisition of Magellan Midstream Partners, L.P. (NYSE:MMP) (Magellan) at ONEOK's upcoming Special Meeting of Shareholders. In making the recommendations, ISS and Glass Lewis stated in their September 7, 2023, and September 6, 2023, reports, respectively1: "On balance, given the expected financial strength of the combined company, including the benefits of the tax basis step-up, the expected EP

    $MMP
    $OKE
    Natural Gas Distribution
    Energy
    Oil & Gas Production
    Utilities

$MMP
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more