UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Tesoro Logistics LP
(Name of Issuer)
Common Units
(Title of Class of Securities)
88160T107
(CUSIP Number)
Bryn Sappington
Fulbright & Jaworski LLP
2200 Ross Avenue, Suite 2800
Dallas, Texas 75201-2784
(214) 855-7180
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
May 16, 2014
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because § 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g) check the following box ¨.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
* | The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.
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1 | | NAMES OF REPORTING PERSONS. Tesoro Corporation I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). 27-4151603 |
2 | | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) x |
3 | | SEC USE ONLY |
4 | | SOURCE OF FUNDS AF |
5 | | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ¨ |
6 | | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | | 7 | | SOLE VOTING POWER 6,920,7341 |
| 8 | | SHARED VOTING POWER 12,189,9801 |
| 9 | | SOLE DISPOSITIVE POWER 6,920,7341 |
| 10 | | SHARED DISPOSITIVE POWER 12,189,9801 |
11 | | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 19,110,7141 |
12 | | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ |
13 | | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 35.1%2 |
14 | | TYPE OF REPORTING PERSON CO |
1. | Includes the conversion of all 15,254,890 issued and outstanding subordinated units representing limited partner interests in the Issuer, which were converted into common units representing limited partner interests in the Issuer (“Common Units”) on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership. The Reporting Person may also be deemed to be the indirect beneficial owner of the 2.0% general partner interest in the Issuer. |
2. | Based upon approximately 54,455,552 Common Units issued and outstanding as of May 16, 2014, with such figure provided to the Reporting Persons by the Issuer. |
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1 | | NAMES OF REPORTING PERSONS. Tesoro Refining & Marketing Company LLC I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). 76-0489496 |
2 | | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) x |
3 | | SEC USE ONLY |
4 | | SOURCE OF FUNDS AF |
5 | | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ¨ |
6 | | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | | 7 | | SOLE VOTING POWER 0 |
| 8 | | SHARED VOTING POWER 11,618,9151 |
| 9 | | SOLE DISPOSITIVE POWER 0 |
| 10 | | SHARED DISPOSITIVE POWER 11,618,9151 |
11 | | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,618,9151 |
12 | | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ |
13 | | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 21.3%2 |
14 | | TYPE OF REPORTING PERSON �� OO |
1. | Includes the conversion of all 15,254,890 issued and outstanding subordinated units representing limited partner interests in the Issuer, which were converted into common units representing limited partner interests in the Issuer (“Common Units”) on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership. The Reporting Person may also be deemed to be the indirect beneficial owner of the 2.0% general partner interest in the Issuer. |
2. | Based upon approximately 54,455,552 Common Units issued and outstanding as of May 16, 2014, with such figure provided to the Reporting Persons by the Issuer. |
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1 | | NAMES OF REPORTING PERSONS. Tesoro Alaska Company I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). 74-1646130 |
2 | | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) x |
3 | | SEC USE ONLY |
4 | | SOURCE OF FUNDS AF |
5 | | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ¨ |
6 | | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | | 7 | | SOLE VOTING POWER 0 |
| 8 | | SHARED VOTING POWER 571,0651 |
| 9 | | SOLE DISPOSITIVE POWER 0 |
| 10 | | SHARED DISPOSITIVE POWER 571,0651 |
11 | | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 571,0651 |
12 | | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ |
13 | | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.0%2 |
14 | | TYPE OF REPORTING PERSON CO |
1. | Includes the conversion of all 15,254,890 issued and outstanding subordinated units representing limited partner interests in the Issuer, which were converted into common units representing limited partner interests in the Issuer (“Common Units”) on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership. |
2. | Based upon approximately 54,455,552 Common Units issued and outstanding as of May 16, 2014, with such figure provided to the Reporting Persons by the Issuer. |
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1 | | NAMES OF REPORTING PERSONS. Tesoro Logistics GP, LLC I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). 27-4151395 |
2 | | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) x |
3 | | SEC USE ONLY |
4 | | SOURCE OF FUNDS OO |
5 | | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ¨ |
6 | | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | | 7 | | SOLE VOTING POWER 0 |
| 8 | | SHARED VOTING POWER 3,550,9341 |
| 9 | | SOLE DISPOSITIVE POWER 0 |
| 10 | | SHARED DISPOSITIVE POWER 3,550,9341 |
11 | | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,550,9341 |
12 | | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ |
13 | | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.5%2 |
14 | | TYPE OF REPORTING PERSON OO |
1. | Includes common units representing limited partner interests in the Issuer (“Common Units”). The Reporting Person, sole general partner of the Issuer, owns 1,110,282 general partner units representing a 2.0% general partner interest in the Issuer, as well as incentive distribution rights in the Issuer, entitling the Reporting Person to receive increasing percentages of quarterly distributions in excess of specified amounts. |
2. | Based upon approximately 54,455,552 Common Units issued and outstanding as of May 16, 2014, with such figure provided to the Reporting Persons by the Issuer. |
Explanatory Note:This Amendment No. 3 amends and supplements the statement on Schedule 13D filed by Tesoro Corporation (“Tesoro”), Tesoro Refining and Marketing Company (“TRMC”), Tesoro Alaska Company (“Tesoro Alaska”) and Tesoro Logistics GP, LLC (the “General Partner”) on September 14, 2012, and as amended on June 3, 2013 and December 9, 2013 (the “Initial Statement”).
Item 2. | Identity and Background. |
Item 2 of the Initial Statement is hereby supplemented as follows:
The information required by subparagraphs (a), (b), (c) and (f) of this Item with respect to the directors and executive officers of the Reporting Persons is set forth on Schedule A attached hereto and is incorporated herein by reference. Such schedule amends and restates, as to the information required by such subparagraphs, the information contained in Schedule A of the Initial Statement.
Item 3. | Source and Amount of Funds or Other Consideration. |
Item 3 of the Initial Statement is hereby supplemented as follows:
All 15,254,890 issued and outstanding subordinated units representing limited partner interests in the Issuer (“Subordinated Units”) were converted into common units representing limited partner interests in the Issuer (“Common Units”) on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership.
Item 5. | Interest in Securities of the Issuer. |
Item 5(a) of the Initial Statement is amended and restated as follows:
(a) Items 11 and 13 of each Cover Page state the aggregate number and percentage of Common Units beneficially owned by the applicable Reporting Person. Such information is incorporated herein by reference.
All 15,254,890 issued and outstanding Subordinated Units were converted into Common Units on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership. As of May 16, 2014, the approximate number of Common Units issued and outstanding is 54,455,552.
As of May 16, 2014, (i) Tesoro is the record holder of 6,920,734 Common Units, over which it has sole voting and dispositive power; (ii) TRMC is the record holder of 8,067,981 Common Units, over which it shares voting and dispositive power with Tesoro due to Tesoro’s ownership of 100% of the securities of TRMC; and (iii) Tesoro Alaska is the record holder of 571,065 Common Units, over which it shares voting and dispositive power with Tesoro due to Tesoro’s ownership of 100% of the securities of Tesoro Alaska.
As of May 16, 2014, the General Partner is the record holder of 3,550,934 Common Units. The General Partner shares voting and dispositive power over these Common Units with Tesoro and TRMC due to Tesoro’s and TRMC’s collective ownership of 100% of the General Partner’s membership interests (4% and 96%, respectively).
The number of Common Units held by each of the Reporting Person’s directors and executive officers is set forth on Schedule A and is incorporated herein by reference.
Each of the Reporting Persons disclaims beneficial ownership of the securities held by others, including the other Reporting Persons, except to the extent of such Reporting Person’s pecuniary interest therein, if any.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: May 20, 2014
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TESORO CORPORATION |
| |
By: | | /s/ Charles S. Parrish |
Charles S. Parrish |
Executive Vice President, General Counsel and Secretary |
|
TESORO REFINING & MARKETING COMPANY LLC |
| |
By: | | /s/ Charles S. Parrish |
Charles S. Parrish |
Executive Vice President and Secretary |
|
TESORO ALASKA COMPANY |
| |
By: | | /s/ Charles S. Parrish |
Charles S. Parrish |
Executive Vice President, General Counsel and Secretary |
|
TESORO LOGISTICS GP, LLC |
| |
By: | | /s/ Charles S. Parrish |
Charles S. Parrish |
Vice President, General Counsel and Secretary |
SCHEDULE A
DIRECTORS AND EXECUTIVE OFFICERS OF TESORO CORPORATION
The business address of each person listed below is c/o Tesoro Corporation, 19100 Ridgewood Parkway, San Antonio, Texas 78259-1828. Each person is a United States citizen.
Directors:
| | | | | | |
Name | | Present Principal Occupation | | Common Units Held | |
Rodney F. Chase | | Non-Executive Chairman for Genel Energy, plc | | | 0 | |
Gregory J. Goff | | President and Chief Executive Officer of Tesoro Corporation | | | 35,653 | |
Robert W. Goldman | | Independent Financial Consultant | | | 4,100 | |
Steven H. Grapstein | | Chief Executive Officer of Como Holdings USA, Inc. | | | 5,000 | |
Mary Pat McCarthy | | Retired | | | 0 | |
David Lilley | | Retired | | | 0 | |
J.W. Nokes | | Retired | | | 0 | |
Susan Tomasky | | Retired | | | 0 | |
Michael E. Wiley | | Retired | | | 0 | |
Patrick Y. Yang | | Retired | | | 0 | |
Executive Officers:
| | | | | | |
Name | | Position at Tesoro Corporation | | Common Units Held | |
Gregory J. Goff | | President and Chief Executive Officer | | | 35,653 | |
Charles S. Parrish | | Executive Vice President, General Counsel and Secretary | | | 5,782 | |
G. Scott Spendlove | | Senior Vice President, Chief Financial Officer | | | 5,782 | |
Daryl R. Schofield | | Senior Vice President, Commercial | | | 0 | |
Arlen O. Glenewinkel, Jr. | | Vice President and Controller | | | 0 | |
Keith M. Casey | | Senior Vice President, Strategy and Business Development | | | 0 | |
[Schedule A Continues on Next Page]
DIRECTORS AND EXECUTIVE OFFICERS OF
TESORO REFINING & MARKETING COMPANY LLC
The business address of each person listed below is c/o Tesoro Refining & Marketing Company LLC, 19100 Ridgewood Parkway, San Antonio, Texas 78259-1828. Each person is a United States citizen.
Directors:
| | | | | | |
Name | | Present Principal Occupation | | Common Units Held | |
Gregory J. Goff | | President and Chief Executive Officer of Tesoro Corporation | | | 35,653 | |
Charles S. Parrish | | Executive Vice President, General Counsel and Secretary of Tesoro Corporation | | | 5,782 | |
G. Scott Spendlove | | Senior Vice President and Chief Financial Officer of Tesoro Corporation | | | 5,782 | |
Executive Officers:
| | | | | | |
Name | | Position at Tesoro Refining and Marketing Company | | Common Units Held | |
Gregory J. Goff | | President and Chief Executive Officer | | | 35,653 | |
Charles S. Parrish | | Executive Vice President and Secretary | | | 5,782 | |
G. Scott Spendlove | | Senior Vice President, Chief Financial Officer | | | 5,782 | |
Daryl R. Schofield | | Senior Vice President, Commercial | | | 0 | |
Arlen O. Glenewinkel, Jr. | | Vice President and Controller | | | 0 | |
Keith M. Casey | | Senior Vice President, Strategy and Business Development | | | 0 | |
[Schedule A Continues on Next Page]
DIRECTORS AND EXECUTIVE OFFICERS OF TESORO ALASKA COMPANY
The business address of each person listed below is c/o Tesoro Alaska Company, 19100 Ridgewood Parkway, San Antonio, Texas 78259-1828. Each person is a United States citizen.
Directors:
| | | | | | |
Name | | Present Principal Occupation | | Common Units Held | |
Gregory J. Goff | | President and Chief Executive Officer of Tesoro Corporation | | | 35,653 | |
Charles S. Parrish | | Executive Vice President, General Counsel and Secretary of Tesoro Corporation | | | 5,782 | |
G. Scott Spendlove | | Senior Vice President and Chief Financial Officer of Tesoro Corporation | | | 5,782 | |
Executive Officers:
| | | | | | |
Name | | Position at Tesoro Alaska Company | | Common Units Held | |
Gregory J. Goff | | President and Chief Executive Officer | | | 35,653 | |
Charles S. Parrish | | Executive Vice President, General Counsel and Secretary | | | 5,782 | |
G. Scott Spendlove | | Senior Vice President, Chief Financial Officer | | | 5,782 | |
Daryl R. Schofield | | Senior Vice President, Commercial | | | 0 | |
Arlen O. Glenewinkel, Jr. | | Vice President and Controller | | | 0 | |
Keith M. Casey | | Senior Vice President, Strategy and Business Development | | | 0 | |
[Schedule A Continues on Next Page]
DIRECTORS AND EXECUTIVE OFFICERS OF TESORO LOGISTICS GP, LLC
The business address of each person listed below is c/o Tesoro Logistics GP, LLC, 19100 Ridgewood Parkway, San Antonio, Texas 78259-1828. Each person is a United States citizen.
Directors:
| | | | | | |
Name | | Present Principal Occupation | | Common Units Held | |
Gregory J. Goff | | President and Chief Executive Officer of Tesoro Corporation | | | 35,653 | |
Raymond J. Bromark | | Retired | | | 8,037 | |
James H. Lamanna | | President of Timeless Triumph LLC (a consulting firm) | | | 5,019 | |
Thomas C. O’Connor | | President and Chief Executive Officer of DCP Midstream, LLC | | | 12,802 | |
Phillip M. Anderson | | President of Tesoro Logistics GP, LLC | | | 16,251 | |
Charles S. Parrish | | Executive Vice President, General Counsel and Secretary of Tesoro Corporation | | | 5,782 | |
G. Scott Spendlove | | Senior Vice President and Chief Financial Officer of Tesoro Corporation | | | 5,782 | |
Keith M. Casey | | Senior Vice President, Strategy and Business Development of Tesoro Corporation | | | 0 | |
Executive Officers:
| | | | | | |
Name | | Position at Tesoro Logistics GP, LLC | | Common Units Held | |
Gregory J. Goff | | Chairman of the Board and Chief Executive Officer | | | 35,653 | |
Phillip M. Anderson | | President | | | 16,251 | |
Charles S. Parrish | | Vice President, General Counsel and Secretary | | | 5,782 | |
G. Scott Spendlove | | Vice President and Chief Financial Officer | | | 5,782 | |
Arlen O. Glenewinkel, Jr. | | Vice President and Controller | | | 0 | |
Keith M. Casey | | Vice President, Strategy | | | 0 | |
[Schedule A Continues on Next Page]
TRANSACTIONS BY THE DIRECTORS AND EXECUTIVE OFFICERS OF THE
REPORTING PERSONS
[End of Schedule A]