Jack H. Stark - Jun 22, 2022 Form 4 Insider Report for Cypress Environmental Partners, L.P. (CELP)

Role
Director
Signature
/s/ Jonathan M. Cinocca, Attorney-in-Fact for Jack H. Stark
Stock symbol
CELP
Transactions as of
Jun 22, 2022
Transactions value $
$0
Form type
4
Date filed
7/7/2022, 06:30 AM
Previous filing
Apr 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CELP Common Units (Limited Partner Interests) Disposed to Issuer $0 -1.39K -100% $0.00* 0 Jun 22, 2022 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CELP Phantom Units (Limited Partner Interests) Disposed to Issuer $0 -15.6K -100% $0.00* 0 Jun 22, 2022 Common Units (Limited Partner Interests) 15.6K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Jack H. Stark is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On May 8, 2022, Cypress Environmental Partners, L.P., a Delaware limited partnership (the "Issuer"), and certain of its subsidiaries (together with the Issuer, the "Company") commenced voluntary cases under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). On June 21, 2022, the Bankruptcy Court entered an order an order confirming the Second Modified Joint Prepackaged Chapter 11 Plan of Reorganization of Cypress Environmental Partners, L.P. and its Debtor Affiliates (as amended, modified or supplemented from time to time, the "Plan"). On June 22, 2022 (the "Effective Date"), the Plan became effective in accordance with its terms and the Company emerged from chapter 11.
F2 (Continued from Footnote 1) On the Effective Date, all outstanding common units representing limited partner interests in the Issuer and all outstanding phantom units were cancelled and extinguished in accordance with the Plan approved by the Bankruptcy Court.
F3 Upon vesting, each phantom unit converts into a common unit on a one for one basis, or into cash, at the discretion of the Issuer. The phantom units expire upon settlement.