0001062993-14-003090.txt : 20140515 0001062993-14-003090.hdr.sgml : 20140515 20140515170858 ACCESSION NUMBER: 0001062993-14-003090 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20140514 FILED AS OF DATE: 20140515 DATE AS OF CHANGE: 20140515 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: BreitBurn Energy Partners L.P. CENTRAL INDEX KEY: 0001357371 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 743169953 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 515 SOUTH FLOWER STREET STREET 2: SUITE 4800 CITY: LOS ANGELES STATE: CA ZIP: 90071 BUSINESS PHONE: (213) 225-5900 MAIL ADDRESS: STREET 1: 515 SOUTH FLOWER STREET STREET 2: SUITE 4800 CITY: LOS ANGELES STATE: CA ZIP: 90071 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Washburn Willis Jackson CENTRAL INDEX KEY: 0001408559 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-33055 FILM NUMBER: 14848738 MAIL ADDRESS: STREET 1: C/O BREITBURN ENERGY PARTNERS L.P. STREET 2: 515 SOUTH FLOWER STREET, SUITE 4800 CITY: LOS ANGELES STATE: CA ZIP: 90071 4 1 form4.xml STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES X0306 4 2014-05-14 0001357371 BreitBurn Energy Partners L.P. BBEP 0001408559 Washburn Willis Jackson 515 S. FLOWER STREET SUITE 4800 LOS ANGELES CA 90071 0 1 0 0 Senior Vice President Convertible Phantom Units 0 2014-05-14 4 A 0 175 0 A Common Units 175 17478 D Convertible Phantom Units 0 2014-05-14 4 A 0 142 0 A Common Units 142 17688 D Each Convertible Phantom Unit ("CPU") is a phantom equity award which includes a performance distribution right ("PDR") that entitles the holder to distributions at the same rate payable to common unitholders based upon the number of CPUs multiplied by a number ranging from 0 to 4.768 (the "multiplier") reflecting whether specified performance metrics are attained. Represents additional CPUs received by the Reporting Person pursuant to the terms of previously granted PDRs. Each PDR entitles the Reporting Person to additional CPUs with a value equal to the amount of distributions paid on each common unit representing a limited partner interest in BBEP (a "common unit"). On May 14, 2014, BBEP paid a cash distribution to holders of its common units in an amount equal to 16.58 cents per common unit. Pursuant to the terms of the PDRs, the Reporting Person received a number of additional CPUs in respect of each PDR with a value (based on the closing price of BBEP's common units on the distribution date ($20.47)) equal to the per unit amount of the distribution. Currently, the multiplier for these CPUs is "1.25." On December 28, 2015, the CPUs will be settled for a number of common units determined by multiplying each CPU by the multiplier. Represents additional CPUs received by the Reporting Person pursuant to the terms of previously granted PDRs. Each PDR entitles the Reporting Person to additional CPUs with a value equal to the amount of distributions paid on each common unit. On May 14, 2014, BBEP paid a cash distribution to holders of its common units in an amount equal to 16.58 cents per common unit. Pursuant to the terms of the PDRs, the Reporting Person received a number of additional CPUs in respect of each PDR with values (based on the closing price of BBEP's common units on the distribution date ($20.47)) equal to the per unit amount of the distributions. Currently, the multiplier for these CPUs is "1." On December 28, 2016, the CPUs will be settled for a number of common units determined by multiplying each CPU by the multiplier. /s/ Roberta E. Kass, Attorney-in-Fact 2014-05-15