0000899243-23-020238.txt : 20231107 0000899243-23-020238.hdr.sgml : 20231107 20231107213839 ACCESSION NUMBER: 0000899243-23-020238 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20231103 FILED AS OF DATE: 20231107 DATE AS OF CHANGE: 20231107 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: PHILLIPS ROBERT G CENTRAL INDEX KEY: 0000901496 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34664 FILM NUMBER: 231385725 MAIL ADDRESS: STREET 1: 2727 NORTH LOOP WEST CITY: HOUSTON STATE: TX ZIP: 77008 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Crestwood Equity Partners LP CENTRAL INDEX KEY: 0001136352 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION & DISTRIBUTION [4923] IRS NUMBER: 431918951 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 811 MAIN STREET STREET 2: SUITE 3400 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 832-519-2200 MAIL ADDRESS: STREET 1: 811 MAIN STREET STREET 2: SUITE 3400 CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: INERGY L P DATE OF NAME CHANGE: 20010307 4 1 doc4.xml FORM 4 SUBMISSION X0508 4 2023-11-03 1 0001136352 Crestwood Equity Partners LP CEQP 0000901496 PHILLIPS ROBERT G 811 MAIN STREET SUITE 3400 HOUSTON TX 77002 1 1 0 0 Founder, Chairman & CEO 0 Common Units 2023-11-03 4 A 0 116204 A 1282373 D Common Units 2023-11-03 4 D 0 1282373 D 0 D On November 3, 2023 (the "Closing Date"), pursuant to the Agreement and Plan of Merger, dated as of August 16, 2023 (the "Merger Agreement"), by and among the Issuer, Energy Transfer LP ("Energy Transfer"), Pachyderm Merger Sub LLC, a direct wholly owned subsidiary of Energy Transfer ("Merger Sub"), and, solely for the purposes set forth therein, LE GP, LLC, the Issuer merged with and into Merger Sub, with Merger Sub surviving as a direct wholly owned subsidiary of Energy Transfer (the "Merger"). Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each outstanding performance unit of the Issuer, which do not constitute derivative securities at the time of grant, granted prior to January 1, 2023, or that was otherwise vested at the Effective Time (each, a "Pre-2023 Issuer Performance Unit") was cancelled in exchange for the payment of (i) the common unit merger consideration (as defined below) with respect to the number of common units of the Issuer (each, an "Issuer common unit") issuable pursuant to such Pre-2023 Issuer Performance Unit based upon a performance multiplier of 100% and (ii) an amount in cash equal to any accrued but unpaid cash distribution equivalents with respect to such Pre-2023 Issuer Performance Unit. (Continued from footnote 2) The average closing price of a common unit representing limited partnership interests in Energy Transfer (each, an "Energy Transfer common unit") for the ten (10) trading days immediately preceding the Closing Date was $13.45. Pursuant to the Merger Agreement, immediately prior to the Effective Time, each outstanding restricted unit of the Issuer granted prior to January 1, 2023 (each, a "Pre-2023 Issuer Restricted Unit") vested in full and converted into the right to receive the common unit merger consideration. The average closing price of an Energy Transfer common unit for the ten (10) trading days immediately preceding the Closing Date was $13.45. Pursuant to the Merger Agreement, immediately prior to the Effective Time, each outstanding restricted unit of the Issuer other than the Pre-2023 Issuer Restricted Units (each, a "2023 Issuer Restricted Unit") converted into the right to receive the common unit merger consideration, subject to the same restrictions and other terms and conditions (including as to vesting and forfeiture and any so-called "double-trigger" protection) that were applicable to such 2023 Issuer Restricted Unit immediately prior to such conversion. The average closing price of an Energy Transfer common unit for the ten (10) trading days immediately preceding the Closing Date was $13.45. Pursuant to the Merger Agreement, each eligible Issuer common unit issued and outstanding immediately prior to the Effective Time was converted into the right to receive 2.07 Energy Transfer common units (the "common unit merger consideration"). The average closing price of an Energy Transfer common unit for the ten (10) trading days immediately preceding the Closing Date was $13.45. /s/ Judy Riddle, attorney-in-fact for Robert G. Phillips 2023-11-07