Filing Details
- Accession Number:
- 0001209191-19-055153
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2019-11-05 14:48:40
- Reporting Period:
- 2019-05-28
- Accepted Time:
- 2019-11-05 14:48:40
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 805022 | Buckeye Partners L.p. | BPL | Pipe Lines (No Natural Gas) (4610) | 232432497 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1421495 | A Robert Malecky | One Greenway Plaza Suite 600 Houston TX 77046 | Evp | No | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Limited Partner Units | Acquisiton | 2019-05-28 | 538 | $40.90 | 109,302 | No | 4 | P | Direct | |
| Limited Partner Units | Acquisiton | 2019-08-19 | 544 | $41.19 | 109,846 | No | 4 | P | Direct | |
| Limited Partner Units | Disposition | 2019-11-01 | 109,846 | $41.50 | 0 | No | 4 | D | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | P | Direct | |
| No | 4 | P | Direct | |
| No | 4 | D | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Limited Partner Units | Phantom Units | Disposition | 2019-11-01 | 11,957 | $41.50 | 11,957 | $0.00 |
| Limited Partner Units | Phantom Units | Disposition | 2019-11-01 | 7,098 | $41.50 | 7,098 | $0.00 |
| Limited Partner Units | Phantom Units | Disposition | 2019-11-01 | 7,098 | $41.50 | 7,098 | $0.00 |
| Limited Partner Units | Phantom Units | Disposition | 2019-11-01 | 7,002 | $41.50 | 7,002 | $0.00 |
| Limited Partner Units | Phantom Units | Disposition | 2019-11-01 | 5,876 | $41.50 | 5,876 | $0.00 |
| Limited Partner Units | Phantom Units | Disposition | 2019-11-01 | 5,876 | $41.50 | 5,876 | $0.00 |
| Limited Partner Units | Phantom Units | Disposition | 2019-11-01 | 5,345 | $41.50 | 5,345 | $0.00 |
| Limited Partner Units | Phantom Units | Disposition | 2019-11-01 | 5,345 | $41.50 | 5,345 | $0.00 |
| Limited Partner Units | Phantom Units | Disposition | 2019-11-01 | 5,198 | $41.50 | 5,198 | $0.00 |
| Limited Partner Units | Performance Units | Acquisiton | 2019-11-01 | 23,915 | $43.75 | 23,915 | $0.00 |
| Limited Partner Units | Performance Units | Disposition | 2019-11-01 | 23,915 | $43.75 | 23,915 | $0.00 |
| Limited Partner Units | Performance Units | Acquisiton | 2019-11-01 | 14,003 | $48.29 | 14,003 | $0.00 |
| Limited Partner Units | Performance Units | Disposition | 2019-11-01 | 14,003 | $48.29 | 14,003 | $0.00 |
| Limited Partner Units | Performance Units | Acquisiton | 2019-11-01 | 10,394 | $53.30 | 10,394 | $0.00 |
| Limited Partner Units | Performance Units | Disposition | 2019-11-01 | 10,394 | $53.30 | 10,394 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 0 | No | 4 | D | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 23,915 | No | 4 | A | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 14,003 | No | 4 | A | Direct | ||
| 0 | No | 4 | D | Direct | ||
| 10,394 | No | 4 | A | Direct | ||
| 0 | No | 4 | D | Direct |
Footnotes
- These Limited Partner Units were inadvertently purchased by the reporting person's broker for the purpose of reinvesting distributions and were not matchable against the subsequent sale on November 1, 2019 because the sale was exempt from Section 16(b) pursuant to Rule 16b-3(e) by virtue of having been approved by a committee of the board of directors composed solely of two or more non-employee directors.
- On November 1, 2019, affiliates of IFM Global Infrastructure Fund ("IFM") acquired Buckeye Partners, L.P. ("BPL") pursuant to that certain Agreement and Plan of Merger, dated as of May 10, 2019, among BPL, Hercules Intermediate Holdings LLC, a Delaware limited liability company and a wholly owned subsidiary of IFM, Hercules Merger Sub LLC, a Delaware limited liability company and a wholly owned subsidiary of IFM ("Merger Sub"), Buckeye Pipe Line Services Company, a Pennsylvania corporation, and Buckeye GP LLC, a Delaware limited liability company (the "Merger Agreement"). In accordance with the Merger Agreement, BPL will merge with and into Merger Sub (the "Merger") with BPL surviving the Merger as a wholly owned subsidiary of IFM. At the effective time of the Merger, each outstanding limited partnership unit representing limited partner interests in BPL was converted into the right to receive $41.50 in cash, without interest.
- Pursuant to the Merger Agreement, on November 1, 2019, these phantom units were cancelled in exchange for a cash payment of $41.50 per unit, without interest. Each phantom unit is the economic equivalent of one limited partner unit of BPL.
- On February 5, 2019, the Reporting Person was granted 23,915 performance units ("Performance Units"). Pursuant to the Merger Agreement, these Performance Units were cancelled in exchange for a cash payment of $41.50 per unit, without interest, plus the value of accumulated but unpaid distribution equivalent rights with respect to such unit as of November 1, 2019.
- On February 6, 2018, the Reporting Person was granted 14,003 performance units ("Performance Units"). Pursuant to the Merger Agreement, these Performance Units were cancelled in exchange for a cash payment of $41.50 per unit, without interest, plus the value of accumulated but unpaid distribution equivalent rights with respect to such unit as of November 1, 2019.
- On February 7, 2017, the Reporting Person was granted 10,394 performance units ("Performance Units"). Pursuant to the Merger Agreement, these Performance Units were cancelled in exchange for a cash payment of $41.50 per unit, without interest, plus the value of accumulated but unpaid distribution equivalent rights with respect to such unit as of November 1, 2019.
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