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BPL Buckeye Partners LP

41.46
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Buckeye Partners LP NYSE:BPL NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 41.46 0 01:00:00

Statement of Changes in Beneficial Ownership (4)

04/11/2019 8:32pm

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).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Smith Clark C.
2. Issuer Name and Ticker or Trading Symbol

BUCKEYE PARTNERS, L.P. [ BPL ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chair, CEO and President
(Last)          (First)          (Middle)

ONE GREENWAY PLAZA, SUITE 600
3. Date of Earliest Transaction (MM/DD/YYYY)

11/1/2019
(Street)

HOUSTON, TX 77046
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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
Limited Partner Units  11/1/2019    D    199293  D $41.50 (1) 0  D   
Limited Partner Units  11/1/2019    D    15293  D $41.50 (1) 0 (2) I  Trust for son 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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   (3) 11/1/2019    D        49413    (3)  (3) Limited Partner Units  49413  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        31825    (3)  (3) Limited Partner Units  31825  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        23624    (3)  (3) Limited Partner Units  23624  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        11493    (3)  (3) Limited Partner Units  11493  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        11493    (3)  (3) Limited Partner Units  11493  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        11386    (3)  (3) Limited Partner Units  11386  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        11386    (3)  (3) Limited Partner Units  11386  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        11210    (3)  (3) Limited Partner Units  11210  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        11210    (3)  (3) Limited Partner Units  11210  $41.50 (3) 0  D   
Performance Units   (4) 11/1/2019    A     98827       (4)  (4) Limited Partner Units  98827  $43.75 (4) 98827  D   
Performance Units   (4) 11/1/2019    D        98827    (4)  (4) Limited Partner Units  98827  $43.75 (4) 0  D   
Performance Units   (5) 11/1/2019    A     63650       (5)  (5) Limited Partner Units  63650  $48.29 (5) 63650  D   
Performance Units   (5) 11/1/2019    D        63650    (5)  (5) Limited Partner Units  63650  $48.29 (5) 0  D   
Performance Units   (6) 11/1/2019    A     47248       (6)  (6) Limited Partner Units  47248  $53.30 (6) 47248  D   
Performance Units   (6) 11/1/2019    D        47248    (6)  (6) Limited Partner Units  47248  $53.30 (6) 0  D   

Explanation of Responses:
(1)  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.
(2)  The Reporting Person disclaims beneficial ownership of these securities because the Reporting Person is not the trustee of the trust and does not exercise any control over the trustee or derive any economic benefit from the securities. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
(3)  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.
(4)  On February 5, 2019, the Reporting Person was granted 98,827 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.
(5)  On February 6, 2018, the Reporting Person was granted 63,650 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.
(6)  On February 7, 2017, the Reporting Person was granted 47,248 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.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Smith Clark C.
ONE GREENWAY PLAZA
SUITE 600
HOUSTON, TX 77046
X
Chair, CEO and President

Signatures
/s/ Todd J. Russo, as attorney-in-fact for Clark C. Smith 11/4/2019
**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 control number.

1 Year Buckeye Partners Chart

1 Year Buckeye Partners Chart

1 Month Buckeye Partners Chart

1 Month Buckeye Partners Chart