SC 13D/A 1 rubenmartinandsenterfitt-s.htm SC 13D/A Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1 ) *
Martin Midstream Partners L.P.
(Name of Issuer)
Common Units representing limited partnership interests
(Title of Class of Securities)
573331105
(CUSIP Number)
Chris Booth
4200 Stone Road
Kilgore, Texas 75662
(903) 983-5181

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
March 14, 2022
(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 of §§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 (however, see the Notes).



CUSIP No. 573331105
(1)
Names of reporting persons
Ruben S. Martin, III
(2)
Check the appropriate box if a member of a group (see instructions)
(a)    
(b)    
(3)SEC use only
(4)Source of funds (see instructions)

PF
(5)
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
(6)
Citizenship or place of organization
United States of America
Number of Common Units beneficially owned by each reporting person with(7)
Sole voting power
2,936,837 (1) (2)
(8)
Shared voting power
 6,114,532 (2) (3)
(9)
Sole dispositive power
 2,936,837 (1) (2)
(10)
Shared dispositive power
6,114,532 (2) (3)
(11)
Aggregate amount beneficially owned by each reporting person
9,051,369 (1) (2) (3)
(12)
Check if the aggregate amount in Row (11) excludes certain Common Units (see instructions)
(13)
Percent of class represented by amount in Row (11)
23.31% (2) (4)
(14)
Type of reporting person (see instructions)
IN

(1)Includes: (i) 95,259 Common Units held of record directly by the reporting person and (ii) 2,841,578 Common Units held of record by Senterfitt Holdings Inc., for which the reporting person is the sole shareholder and sole director and has sole voting and investment power.

(2)The reporting person states that neither the filing of this Schedule nor anything herein shall be deemed an admission that such person is, for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of these Common Units. The reporting person disclaims beneficial ownership of these Common Units, except to the extent of his pecuniary interest therein.

(3)Includes 6,114,532 Common Units held of record by Martin Resource Management Corporation, for which Mr. Martin is the chairman of the board of directors and its president, indirectly through its wholly-owned subsidiaries as follows: 4,203,823 Common Units held directly by Martin Resource LLC, 1,021,265 Common Units held directly by Martin Product Sales LLC, and 889,444 Common Units held directly by Cross Oil Refining & Marketing Inc.

(4)Based upon 38,836,950 number of Common Units outstanding as of March 1, 2022.

    


CUSIP No. 573331105
(1)
Names of reporting persons
Senterfitt Holdings Inc.
(2)
Check the appropriate box if a member of a group (see instructions)
(a)    
(b)    
(3)SEC use only
(4)
Source of funds (see instructions)
WC
(5)
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
(6)
Citizenship or place of organization
Texas, United States of America
Number of Common Units beneficially owned by each reporting person with(7)
Sole voting power
2,841,578
(8)
Shared voting power
0
(9)
Sole dispositive power
2,841,578
(10)
Shared dispositive power
0
(11)
Aggregate amount beneficially owned by each reporting person
2,841,578
(12)
Check if the aggregate amount in Row (11) excludes certain Common Units (see instructions)
(13)
Percent of class represented by amount in Row (11)
7.32% (1)
(14)
Type of reporting person (see instructions)
CO

(1)Based upon 38,836,950 number of Common Units outstanding as of March 1, 2022.

    


Item 1. Security and Issuer.
Pursuant to Rule 13d-2 promulgated under the Securities Exchange Act of 1934, as amended, this Amendment No. 1 to Schedule 13D (this “Amendment No. 1”) amends the Schedule 13D originally filed with the Securities and Exchange Commission on December 10, 2021 (as amended by this Amendment No. 1, the “Schedule”).

This Schedule 13D relates to common units representing limited partnership interests (“Common Units”) of Martin Midstream Partners L.P. (the “Issuer”) beneficially held by the reporting person. The address of the principal executive offices of the Issuer is 4200 Stone Road, Kilgore, Texas 75662.

Item 5. Interest in Securities of the Issuer.
(a)The aggregate number and percentage of the Common Units beneficially owned by each Reporting Person is stated in Items 11 and 13 on that Reporting Person’s cover pages hereto. Together, Mr. Martin may be deemed the beneficial owner of 9,051,369 units, which represents 23.31% of the outstanding Common Units of the Issuer calculated based on 38,836,950 units outstanding as of March 1, 2022, and includes: (i) 95,259 Common Units held of record directly by Mr. Martin, (ii) 2,841,578 Common Units held of record directly by Senterfitt, for which Mr. Martin is the sole shareholder and sole director and has sole voting and investment power and (iii) 6,114,532 Common Units held of record by Martin Resource Management Corporation, for which Mr. Martin is the chairman of the board of directors and its president, indirectly through its wholly-owned subsidiaries as follows: 4,203,823 Common Units held directly by Martin Resource LLC, 1,021,265 Common Units held directly by Martin Product Sales LLC, and 889,444 Common Units held directly by Cross Oil Refining & Marketing Inc. Senterfitt may be deemed the beneficial owner of 2,841,578 Common Units, which represents 7.32% of the outstanding Common Units of the Issuer calculated based on 38,836,950 units outstanding as of March 1, 2022. Each Reporting Person states that neither the filing of this Schedule nor anything herein shall be deemed an admission that such Reporting Person is, for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of these Common Units. Each Reporting Person disclaims beneficial ownership of these Common Units, except to the extent of his pecuniary interest therein.

(b)(i)    sole power to vote or to direct the vote:
See Item 7 on each Reporting Person’s cover pages hereto.
(ii)shared power to vote or to direct the vote:
See Item 8 on each Reporting Person’s cover pages hereto.
(iii)sole power to dispose or to direct the disposition of:
See Item 9 on each Reporting Person’s cover pages hereto.
(iv)shared power to dispose or to direct the disposition of:
See Item 10 on each Reporting Person’s cover pages hereto.
(c)Each of the Reporting Persons has not entered into any transactions in the Common Units during the past sixty days except for open market purchases conducted by Senterfitt, for which Mr. Martin is the sole shareholder and sole director and has sole voting and investment power, and units that were issued to Mr. Martin pursuant to a benefit plan administered by Martin Resource Management Corporation, as set forth below.
Senterfitt engaged in the following transactions in the Common Units since January 24, 2022:
    


DateTransactionQuantityPrice
02/18/2022Open market purchase52,000$3.06750
02/22/2022Open market purchase79,000$2.99140
02/25/2022Open market purchase27,000$3.23920
02/28/2022Open market purchase47,740$3.19110
03/04/2022Open market purchase9,278$3.24380
03/14/2022Open market purchase141,767$3.72100

Mr. Martin engaged in the following transactions in the Common Units since January 24, 2021:
DateTransactionQuantityPrice
02/07/2022Issued pursuant to a benefit plan454$3.11310
02/17/2022Issued pursuant to a benefit plan2$3.15090
03/09/2022Issued pursuant to a benefit plan417$3.39030

(d)None.
(e)Not applicable.

    


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.

Date: March 24, 2022    RUBEN S. MARTIN, III
/s/ Ruben S. Martin, III    


SENTERFITT HOLDINGS INC.
By: /s/ Ruben S. Martin, III    
Name: Ruben S. Martin, III
Title: President