SEC Form 3
FORM 3 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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*
(Street)
| 2. Date of Event Requiring Statement (Month/Day/Year) 02/02/2017 | 3. Issuer Name and Ticker or Trading Symbol Boardwalk Pipeline Partners, LP [ BWP ] | |||||||||||||
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
| 5. 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 Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Phantom Units | (1) | (1) | Common Units | 31,589 | (2) | D | |
Phantom Units | (3) | (3) | Common Units | 42,159 | (2) | D | |
Phantom Units | (4) | (4) | Common Units | 24,208 | (2) | D |
Explanation of Responses: |
1. Except as otherwise provided in the Reporting Person's Phantom Unit Grant Agreement, 50% of the phantom units vested on December 1, 2016 (First Tranche) and the remaining 50% vest on December 1, 2017 (Second Tranche). All phantom units will be settled in cash, but the timing of the cash payment of the First Tranche was determined by a payment election the Reporting Person was required to make 30-days after the grant date. Pursuant to the terms of the grant agreement, the Reporting Person elected to defer the payment of the vested First Tranche until the payment associated with the Second Tranche, except for amounts accelerated and withheld to satisfy applicable tax withholding obligations related to the December 1, 2016 vesting event. The Second Tranche is not subject to a deferral election and will be paid to the Reporting Person within 30 days of the vesting event. |
2. Each phantom unit is the economic equivalent of one common unit of the Issuer. |
3. Except as otherwise provided in the Reporting Person's Phantom Unit Grant Agreement, 50% of the phantom units vest on December 1, 2017 (First Tranche) and the remaining 50% vest on December 1, 2018 (Second Tranche). All phantom units will be settled in cash, but the timing of the cash payment of the First Tranche was determined by a payment election the Reporting Person was required to make 30-days after the grant date. Pursuant to the terms of the grant agreement, the Reporting Person elected to have the phantom common units associated with the First Tranche paid within 30 days of vesting of the First Tranche. The Second Tranche is not subject to a deferral election and will be paid to the Reporting Person within 30 days of the vesting event. |
4. Except as otherwise provided in the Reporting Person's Phantom Unit Grant Agreement, 50% of the phantom units vest on December 1, 2018 (First Tranche) and the remaining 50% vest on December 1, 2019 (Second Tranche). All phantom units will be settled in cash, but the timing of the cash payment of the First Tranche will be determined by the payment election the Reporting Person is required to make by March 3, 2017. The Reporting Person may elect to have the phantom units paid in connection with the vesting of the First Tranche or deferred until the payment associated with the Second Tranche, except for amounts accelerated and withheld to satisfy applicable tax withholding obligations related to the December 1, 2018, vesting event. The Second Tranche is not subject to a deferral election and will be paid to the Reporting Person within 30 days of the vesting event. |
Remarks: |
\s\ John L Haynes | 02/16/2017 | |
** 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 5 (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. |