TransMontaigne Partners L.P. 4
4 · TransMontaigne Partners L.P. · Filed Aug 6, 2008
Insider Transaction Report
Form 4
Davis Deborah A
SVP, Chief Accounting Officer
Transactions
- Award
Phantom Units
2008-08-05$25.00/sh+124.55$3,114→ 5,493 total→ Common Unit representing limited partner interest (124.55 underlying)
Footnotes (2)
- [F1]Each phantom unit represents the right to receive one common unit of TLP, or the cash value thereof.
- [F2]Phantom Units awarded under the Amended and Restated Savings and Retention Plan vest 50% as of the January 1 that falls closest to the second anniversary of the grant date, and the remaining 50% as of the January 1 that falls closest to the third anniversary of the grant date. Accordingly, the 2007 award of phantom units vests 50% on January 1, 2009, and the remaining 50% on January 1, 2010. The 2008 award of phantom units vests 50% on January 1, 2010, and the remaining 50% on January 1, 2011. The phantom units are subject to earlier vesting upon achieving certain age or service thresholds as defined in the Plan. Upon vesting, phantom units may be paid out, in the sole discretion of the plan administrator, in cash or in common units of TLP, of a combination thereof, in an amount equal to the value of the vested portion of reporting person's account.