Peter C. Boylan - May 28, 2021 Form 4 Insider Report for Cypress Environmental Partners, L.P. (CELP)

Role
Officer, Director
Signature
/s/ Jonathan M. Cinocca, Attorney-in-Fact for Peter C. Boylan III
Stock symbol
CELP
Transactions as of
May 28, 2021
Transactions value $
$0
Form type
4
Date filed
6/1/2021, 03:10 PM
Next filing
Jul 2, 2021

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 Unit Appreciation Right Award $0 +465K $0.00 465K May 28, 2021 Common Units (Limited Partner Interests) 465K $2.14 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 28, 2021, the Reporting Person was granted 465,000 Unit Appreciation Rights ("UARs") pursuant to the Issuer's 2013 Long-Term Incentive Plan (the "Plan"). The UARs vest in equal installments on March 28, 2024, 2025 and 2026. Each UAR that vests represents the right to receive payment, in accordance with the Plan, in an amount equal to the excess, if any, of the fair market value of one Common Unit over the per Unit exercise price of the UAR upon exercise of the UAR. The Reporting Person is entitled to cash or common units (valued at the fair market value on the date of exercises), or a combination thereof, as determined by the administrator of the Plan.

Remarks:

The Reporting Person is Chairman of the Board, President and Chief Executive Officer of Cypress Environmental Partners GP, LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the directors and executive officers of the General Partner.