Statement of Changes in Beneficial Ownership (4)
November 04 2019 - 3:44PM
Edgar (US Regulatory)
FORM 4
[X]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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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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0.5
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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
*
Bohnsack Gary L |
2. Issuer Name and Ticker or Trading Symbol
BUCKEYE PARTNERS, L.P.
[
BPL
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) VP, Controller and CAO
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(Last)
(First)
(Middle)
ONE GREENWAY PLAZA, SUITE 600 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
11/1/2019
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(Street)
HOUSTON, TX 77046
(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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Limited Partner Units
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11/1/2019
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D
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3035
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D
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$41.50 (1)
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0
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D
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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)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code (Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)
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8. Price of Derivative Security (Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Phantom Units
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(2)
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11/1/2019
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D
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7156
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(2)
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(2)
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Limited Partner Units
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7156
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$41.50 (2)
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0
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D
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Phantom Units
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(2)
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11/1/2019
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D
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6107
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(2)
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(2)
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Limited Partner Units
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6107
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$41.50 (2)
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0
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D
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Phantom Units
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(2)
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11/1/2019
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D
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4140
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(2)
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(2)
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Limited Partner Units
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4140
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$41.50 (2)
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0
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D
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Phantom Units
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(2)
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11/1/2019
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D
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3865
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(2)
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(2)
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Limited Partner Units
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3865
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$41.50 (2)
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0
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D
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Phantom Units
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(2)
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11/1/2019
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D
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3580
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(2)
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(2)
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Limited Partner Units
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3580
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$41.50 (2)
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0
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D
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Phantom Units
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(2)
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11/1/2019
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D
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2839
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(2)
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(2)
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Limited Partner Units
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2839
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$41.50 (2)
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0
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D
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Phantom Units
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(2)
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11/1/2019
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D
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2839
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(2)
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(2)
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Limited Partner Units
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2839
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$41.50 (2)
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0
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D
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Phantom Units
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(2)
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11/1/2019
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D
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2291
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(2)
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(2)
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Limited Partner Units
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2291
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$41.50 (2)
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0
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D
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Phantom Units
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(2)
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11/1/2019
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D
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2291
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(2)
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(2)
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Limited Partner Units
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2291
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$41.50 (2)
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0
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D
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Performance Units
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(3)
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11/1/2019
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A
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6107
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(3)
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(3)
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Limited Partner Units
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6107
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$43.75 (3)
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6107
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D
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Performance Units
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(3)
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11/1/2019
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D
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6107
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(3)
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(3)
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Limited Partner Units
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6107
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$43.75 (3)
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0
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D
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Performance Units
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(4)
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11/1/2019
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A
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3580
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(4)
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(4)
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Limited Partner Units
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3580
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$48.29 (4)
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3580
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D
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Performance Units
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(4)
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11/1/2019
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D
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3580
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(4)
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(4)
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Limited Partner Units
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3580
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$48.29 (4)
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0
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D
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Performance Units
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(5)
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11/1/2019
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A
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4140
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(5)
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(5)
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Limited Partner Units
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4140
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$50.81 (5)
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4140
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D
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Performance Units
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(5)
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11/1/2019
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D
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4140
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(5)
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(5)
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Limited Partner Units
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4140
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$50.81 (5)
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0
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D
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Explanation of Responses:
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(1)
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On November 1, 2019, affiliates of IFM Global Infrastructure Fund ("IFM") acquired Buckeye Partners, L.P. ("BPL") pursuant to that certain Agreement and Plan of Merger, dated as of May 10, 2019, among BPL, Hercules Intermediate Holdings LLC, a Delaware limited liability company and a wholly owned subsidiary of IFM, Hercules Merger Sub LLC, a Delaware limited liability company and a wholly owned subsidiary of IFM ("Merger Sub"), Buckeye Pipe Line Services Company, a Pennsylvania corporation, and Buckeye GP LLC, a Delaware limited liability company (the "Merger Agreement"). In accordance with the Merger Agreement, BPL will merge with and into Merger Sub (the "Merger") with BPL surviving the Merger as a wholly owned subsidiary of IFM. At the effective time of the Merger, each outstanding limited partnership unit representing limited partner interests in BPL was converted into the right to receive $41.50 in cash, without interest.
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(2)
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Pursuant to the Merger Agreement, on November 1, 2019, these phantom units were cancelled in exchange for a cash payment of $41.50 per unit, without interest. Each phantom unit is the economic equivalent of one limited partner unit of BPL.
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(3)
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On February 5, 2019, the Reporting Person was granted 6,107 performance units ("Performance Units"). Pursuant to the Merger Agreement, these Performance Units were cancelled in exchange for a cash payment of $41.50 per unit, without interest, plus the value of accumulated but unpaid distribution equivalent rights with respect to such unit as of November 1, 2019.
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(4)
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On February 6, 2018, the Reporting Person was granted 3,580 performance units ("Performance Units"). Pursuant to the Merger Agreement, these Performance Units were cancelled in exchange for a cash payment of $41.50 per unit, without interest, plus the value of accumulated but unpaid distribution equivalent rights with respect to such unit as of November 1, 2019.
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(5)
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On June 21, 2017, the Reporting Person was granted 4,140 performance units ("Performance Units"). Pursuant to the Merger Agreement, these Performance Units were cancelled in exchange for a cash payment of $41.50 per unit, without interest, plus the value of accumulated but unpaid distribution equivalent rights with respect to such unit as of November 1, 2019.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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Bohnsack Gary L ONE GREENWAY PLAZA SUITE 600 HOUSTON, TX 77046
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VP, Controller and CAO
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Signatures
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/s/ Todd J. Russo, as attorney-in-fact for Gary L. Bohnsack
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11/4/2019
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**Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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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 control number.
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