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Filing Details

Accession Number:: 0000899243-20-011060
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-04-21 16:32:09
Reporting Period:: 2020-04-17

Accepted Time:: 2020-04-21 16:32:09
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1633651	Tallgrass Energy Lp	TGE	Natural Gas Transmission (4922)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1678693	R. Christopher Jones	4200 W. 115Th Street, Suite 350 Leawood KS 66211	See Remarks	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Shares	Disposition	2020-04-17	343,458	$22.45	360,000	No	4	D	Direct
Class B Shares	Disposition	2020-04-17	103,983	$0.00	0	No	4	J	Indirect	See footnote
Class A Shares	Acquisiton	2020-04-17	103,983	$0.00	103,983	No	4	J	Indirect	See footnote
Class A Shares	Disposition	2020-04-17	103,983	$26.25	0	No	4	S	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	D	Direct
No	4	J	Indirect	See footnote
No	4	J	Indirect	See footnote
No	4	S	Indirect	See footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Shares	Units in Tallgrass Equity, LLC	Disposition	2020-04-17	103,983	$0.00	103,983	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0			No	4	J	Indirect

Footnotes

The Reporting Person ceased to beneficially own the Class A shares representing limited partner interests ("Class A Shares") in the Issuer reported herein at the Effective Time (as defined below) of the merger (the "Merger") of Prairie Private Acquiror LP, a Delaware limited partnership ("Buyer"), with and into the Issuer, with the Issuer surviving the merger and continuing to exist as a Delaware limited partnership. The Merger was effected pursuant to the Agreement and Plan of Merger, dated as of December 16, 2019 (the "Merger Agreement"), by and among the Issuer, Tallgrass Energy GP, LLC, a Delaware limited liability company, Buyer and Prairie Merger Sub LLC, a Delaware limited liability company and wholly-owned subsidiary of Buyer ("Merger Sub"). The Merger closed and was effective at 7:02 a.m., Central Time, on April 17, 2020 (the "Effective Time").
(Continued from Footnote 1) At the Effective Time, (i) each Class A Share held by the Reporting Person immediately prior to the Merger converted into the right to receive $22.45 per Class A Share in cash without any interest thereon and (ii) as further described in the Merger Agreement, each equity participation share in the Issuer (an "EPS") held by the Reporting Person immediately prior to the Merger continued to remain outstanding, subject to the terms and conditions (including with respect to vesting and forfeiture) applicable to such award immediately prior to the Effective Time, provided that such EPSs will be settled at the time provided in the applicable award agreement in an amount of cash per EPS equal to the "Fair Market Value" (as defined in the Tallgrass MLP GP, LLC Long-Term Incentive Plan) of a Class A Share on the date of settlement.
On April 17, 2020, immediately following the transaction described in Footnotes 1 and 2, the Class B shares of the Issuer ("Class B Shares") and Units representing limited liability company interests ("Units") in Tallgrass Equity, LLC ("Tallgrass Equity") reported herein were exchanged by the Amended and Restated Christopher R. Jones Revocable Trust under Trust Indenture dated March 6, 2019 (the "Jones Revocable Trust"), upon the exercise of its right to exchange (the "Exchange Right") his Class B Shares and an equivalent number of Units for a like number of Class A Shares pursuant to the Second Amended and Restated Agreement of Limited Partnership of the Issuer, dated July 2, 2018 (the "Issuer Limited Partnership Agreement"), and the Second Amended and Restated Limited Liability Company Agreement of Tallgrass Equity, dated May 12, 2015 (the "Tallgrass Equity LLC Agreement").
(Continued from Footnote 3) This exchange was made as part of the transactions contemplated by that certain Purchase Agreement, dated April 17, 2020, by and between the Jones Revocable Trust and Merger Sub (the "Purchase Agreement").
On April 17, 2020, immediately following the transaction described in Footnotes 3 and 4, pursuant to the Purchase Agreement, the Jones Revocable Trust sold to Merger Sub 103,983 Class A Shares at a price per Class A Share of $26.25.
Prior to the transactions described in Footnotes 3, 4 and 5, the Reporting Person indirectly owned the Class A Shares, Class B Shares and the Units reported herein through the Jones Revocable Trust. The Reporting Person disclaimed beneficial ownership of the Class A Shares, Class B Shares and Units reported herein except to the extent of his pecuniary interest therein.
Prior to the transactions described in Footnotes 3 and 4, pursuant to the Issuer Limited Partnership Agreement and the Tallgrass Equity LLC Agreement, the Jones Revocable Trust had the right, from time to time, at its sole election, to immediately exchange its Class B Shares and an equivalent number of Units for a like number of Class A Shares. As a result, all Class B Shares and Units owned by the Jones Revocable Trust, whether or not exchanged, may have been deemed to constitute Class A Shares beneficially owned by it because the Jones Revocable Trust had the right to acquire Class A Shares in exchange for such Class B Shares and Units within 60 days at its sole election.