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BPL Buckeye Partners LP

41.46
0.00 (0.00%)
06 Jun 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)

05/11/2019 7:49pm

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 *

Malecky Robert A
2. Issuer Name and Ticker or Trading Symbol

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

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
EVP
(Last)          (First)          (Middle)

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

5/28/2019
(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  5/28/2019    P    538.2  A $40.90 (1) 109302.2  D   
Limited Partner Units  8/19/2019    P    544.2  A $41.19 (1) 109846.4  D   
Limited Partner Units  11/1/2019    D    109846.4  D $41.50 (2) 0  D   

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        11957    (3)  (3) Limited Partner Units  11957  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        7098    (3)  (3) Limited Partner Units  7098  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        7098    (3)  (3) Limited Partner Units  7098  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        7002    (3)  (3) Limited Partner Units  7002  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        5876    (3)  (3) Limited Partner Units  5876  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        5876    (3)  (3) Limited Partner Units  5876  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        5345    (3)  (3) Limited Partner Units  5345  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        5345    (3)  (3) Limited Partner Units  5345  $41.50 (3) 0  D   
Phantom Units   (3) 11/1/2019    D        5198    (3)  (3) Limited Partner Units  5198  $41.50 (3) 0  D   
Performance Units   (4) 11/1/2019    A     23915       (4)  (4) Limited Partner Units  23915  $43.75 (4) 23915  D   
Performance Units   (4) 11/1/2019    D        23915    (4)  (4) Limited Partner Units  23915  $43.75 (4) 0  D   
Performance Units   (5) 11/1/2019    A     14003       (5)  (5) Limited Partner Units  14003  $48.29 (5) 14003  D   
Performance Units   (5) 11/1/2019    D        14003    (5)  (5) Limited Partner Units  14003  $48.29 (5) 0  D   
Performance Units   (6) 11/1/2019    A     10394       (6)  (6) Limited Partner Units  10394  $53.30 (6) 10394  D   
Performance Units   (6) 11/1/2019    D        10394    (6)  (6) Limited Partner Units  10394  $53.30 (6) 0  D   

Explanation of Responses:
(1)  These Limited Partner Units were inadvertently purchased by the reporting person's broker for the purpose of reinvesting distributions and were not matchable against the subsequent sale on November 1, 2019 because the sale was exempt from Section 16(b) pursuant to Rule 16b-3(e) by virtue of having been approved by a committee of the board of directors composed solely of two or more non-employee directors.
(2)  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.
(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 23,915 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 14,003 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 10,394 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
Malecky Robert A
ONE GREENWAY PLAZA
SUITE 600
HOUSTON, TX 77046


EVP

Signatures
/s/ Todd J. Russo, as attorney-in-fact for Robert A. Malecky 11/5/2019
**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.

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