0001340122-20-000099.txt : 20200911 0001340122-20-000099.hdr.sgml : 20200911 20200911213531 ACCESSION NUMBER: 0001340122-20-000099 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200901 FILED AS OF DATE: 20200911 DATE AS OF CHANGE: 20200911 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Borgmann Louis Todd CENTRAL INDEX KEY: 0001823742 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51734 FILM NUMBER: 201172069 MAIL ADDRESS: STREET 1: 2780 WATERFRONT PARKWAY, E. DRIVE STREET 2: SUITE 200 CITY: INDIANAPOLIS STATE: IN ZIP: 46214 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Calumet Specialty Products Partners, L.P. CENTRAL INDEX KEY: 0001340122 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 351811116 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 2780 WATERFRONT STREET 2: PARKWAY E. DRIVE, SUITE 200 CITY: INDIANAPOLIS STATE: IN ZIP: 46214 BUSINESS PHONE: 317-328-5660 MAIL ADDRESS: STREET 1: 2780 WATERFRONT STREET 2: PARKWAY E. DRIVE, SUITE 200 CITY: INDIANAPOLIS STATE: IN ZIP: 46214 FORMER COMPANY: FORMER CONFORMED NAME: Calumet Lubricants Partners, L.P. DATE OF NAME CHANGE: 20050928 3 1 wf-form3_159987451152347.xml FORM 3 X0206 3 2020-09-01 0 0001340122 Calumet Specialty Products Partners, L.P. CLMT 0001823742 Borgmann Louis Todd 2780 WATERFRONT PKWY, E. DR. SUITE 200 INDIANAPOLIS IN 46214 0 1 0 0 SVP and Interim CFO Common Units 47994 D Phantom Unit Common Unit 200000.0 D Phantom Units Common Unit 164641.0 D 20,000, 25,000, and 40,000 Phantom Units vested on November 6, 2017, December 10, 2017, and January 1, 2018, respectively. The following number of Phantom Units will vest at such time, if at all, that the average daily closing price of Calumet Specialty Products Partners, L.P. (the "Partnership") Common Units on the NASDAQ Stock Market LLC ("NASDAQ") during any 120 consecutive calendar day period averages the following respective dollar values per Common Unit: $10 (20,000 Phantom Units), $16 (50,000 Phantom Units), and $18 (20,000 Phantom Units). 25,000 Phantom Units will vest at such time, if at all, on the date a distribution is reinstated by the Partnership. All unvested Phantom Units as of December 31, 2020 will be forfeited on such date. Settlement of vested Phantom Units will occur on the first to occur of the second anniversary of the reporting person's separation from service, or the issuer's change in control. Each Phantom Unit is the economic equivalent of a Calumet Specialty Products Partners, L.P. Common Unit. Phantom Units represent 50% of L. Todd Borgmann's annual cash incentive award in lieu of cash. 25,227, 42,135, and 97,279 Phantom Units were granted on March 15, 2018, March 29, 2019, and March 13, 2020, respectively. All of the Phantom Units granted are 100% vested. The Phantom Units will be settled in Common Units within 30 days of the first to occur of (i) a Change of Control that also constitutes a "change in control" within the meaning of Section 409A and any Internal Revenue Service guidance promulgated with respect to Section 409A and (ii) the fourth anniversary of the grant date. /s/ L. Todd Borgmann 2020-09-11