SEC Form 4: Bairrington Phillip David returned $72,538 worth of Common Units to the company (1,650 units at $43.96), bought $72,470 worth of Common Units (1,630 units at $44.46) and converted options into 1,650 units of Common Units, increasing direct ownership by 4% to 45,328 units
$PSXP
Oil & Gas Production
Energy
| 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 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
PHILLIPS 66 PARTNERS LP [ PSXP ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 01/20/2022 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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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) | 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 (Limited Partner Interests) | 01/20/2022 | M | 1,650(1) | A | $0 | 45,348 | D | |||
| Common Units (Limited Partner Interests) | 01/20/2022 | D | 1,650(1) | D | $43.9625(2) | 43,698 | D | |||
| Common Units (Limited Partner Interests) | 01/20/2022 | P | 1,630(3) | A | $44.46 | 45,328 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 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 | (4) | 01/20/2022 | M | 1,650 | 01/15/2022 | (5) | Common Units | 1,650 | $0 | 0 | D | ||||
| Phantom Units | (4) | 01/20/2022(6) | A | 2,389(7) | (8) | (5) | Common Units | 2,389 | $0 | 2,389 | D | ||||
| Explanation of Responses: |
| 1. These transactions do not represent the actual purchase and sale of common units by the reporting person. In accordance reporting requirements, they represent the cash settlement of a phantom unit award. |
| 2. The price reflected above is the average of the high and the low price of the Company's common unit on January 14, 2022. |
| 3. In accordance with Rule 10b5-1, on November 14, 2018, the reporting person gave instructions to purchase common units with the cash payment received upon settlement of the 1,650 phantom units reported on this Form 4. |
| 4. Each phantom unit is the economic equivalent of one common unit of Phillips 66 Partners LP. |
| 5. The phantom units do not have an expiration date. |
| 6. The plan actually dictates January 15th as the grant date, but due to that being a holiday weekend, the reporting person was not notified of the transaction until the 20th, which is the transaction date per Rule 16a-3(g). |
| 7. Annual grant to non-employee directors of phantom units. |
| 8. Phantom units vest on the third anniversary of the grant. |
| Remarks: |
| Julie P. Pradel, by Power of Attorney | 01/20/2022 | |
| ** 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. | ||