Jeffrey A. Herbers - 02 Nov 2021 Form 4 Insider Report for Cypress Environmental Partners, L.P.

Role: Officer
Signature: /s/ Jonathan M. Cinocca, Attorney-in-Fact for Jeffrey A. Herbers
Issuer symbol: N/A
Transactions as of: 02 Nov 2021
Net transactions value: -$1,560
Form type: 4
Filing time: 03 Nov 2021, 12:53:01 UTC
Previous filing: 01 Jun 2021
Next filing: 07 Jul 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CELP	Common Units (Limited Partner Interests)	Options Exercise		+3,384	+20%		20,305	02 Nov 2021	Direct	F1
transaction	CELP	Common Units (Limited Partner Interests)	Tax liability	$1,560	-963	-4.7%	$1.62^*	19,342	02 Nov 2021	Direct

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)	Options Exercise		-3,384	-100%		0	02 Nov 2021	Common Units (Limited Partner Interests)	3,384		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each phantom unit is the economic equivalent of one common unit.
F2	On November 2, 2016, the Reporting Person was granted 10,152 phantom units which vest in equal installments on November 2, 2019, 2020 and 2021, subject to Reporting Person's continued service with the Issuer through the applicable vesting dates.
F3	The phantom units expire upon settlement. The phantom units are settled upon vesting in common units (on a one-for-one basis) or in cash, at the desertion of the Issuer.

Remarks:

The Reporting Person is Chief Financial 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.