accordance with the Shareholders Agreement, and he serves as an observer and advisor to the board of directors of Pope MGP, Inc. Ms. Pope is currently the Pope General Partner Shareholder and in a series of related transactions, the last of which occurred on March 29, 2019, Ms. Pope acquired the interests of certain other members of the Pope Family and currently serves as a director of Pope MGP, Inc.
ITEM 4. | PURPOSE OF TRANSACTION |
The Reporting Persons are filing this Schedule 13D to update their holdings of the Issuer’s securities following the transfer of securities by Ms. Pope as reported in Item 3, above, and to report the execution of an Agreement Regarding Joint Filing on April 8, 2019.
The Reporting Persons may review on an ongoing and continuing basis their investment in the Issuer. The Reporting Persons may from time to time acquire additional securities of the Issuer or sell or otherwise dispose of some or all of the Reporting Person’s securities of the Issuer; provided, however, that the sale or other disposition of capital stock of MGP and EGP, and the sale or disposition of Units held by each such entity, is restricted by the Shareholders Agreement, the terms of which are summarized under Item 6, below, and which is filed as Exhibit 9.1 to the Issuer’s Annual Report on Form10-K for the fiscal year ended December 31, 2018 and is incorporated herein by reference. The summary referenced under Item 6 is not a complete description of the Shareholders Agreement. Subject to the preceding sentence, any transactions that the Reporting Persons may pursue may be made at any time and from time to time without prior notice and will depend upon a variety of factors, including, without limitation, current and anticipated future trading prices of the securities of the Issuer, the financial condition, results of operations and prospects of the Issuer, general economic, financial market and industry conditions, other investment and business opportunities available to such Reporting Persons, tax considerations and other factors.
The Reporting Persons do not have any present plan or proposal that would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D, except as set forth herein.
ITEM 5. | INTEREST IN SECURITIES OF THE ISSUER |
The beneficial ownership of the Units by each Reporting Person at the date hereof is reflected on that Reporting Person’s cover page. On March 29, 2019, PT Pope Properties, LLC, made a distribution of 41,073 limited partner units of the Issuer to a member of such entity in connection with the liquidation of the member’s interest therein. On March 29, 2019, the Issuer issued 132 limited partner units to Maria M. Pope as compensation for services rendered to MGP.
Other than the foregoing, there were no transactions effected by the Reporting Persons in the Units within the past sixty (60) days.
ITEM 6. | CONTRACTS, AGREEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. |
Other than the relationships mentioned above and except as described in this Item 6, to the knowledge of the Reporting Persons, none of the Reporting Persons is party to any other contracts, arrangements, understandings or relationships with respect to any securities of the Issuer, including but not limited to the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option agreements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.