Joseph O'Toole - 20 Jan 2022 Form 4 Insider Report for PHILLIPS 66 PARTNERS LP

Role
Director
Signature
Julie P. Pradel, by Power of Attorney
Issuer symbol
N/A
Transactions as of
20 Jan 2022
Net transactions value
-$72,538
Form type
4
Filing time
20 Jan 2022, 17:26:25 UTC
Next filing
09 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PSXP Common Units (Limited Partner Interests) Options Exercise $0 +1,650 +16% $0.000000 11,650 20 Jan 2022 Direct F1
transaction PSXP Common Units (Limited Partner Interests) Disposed to Issuer $72,538 -1,650 -14% $43.96 10,000 20 Jan 2022 Direct F1, F2
holding PSXP Common Units (Limited Partner Interests) 25,000 20 Jan 2022 Held by Family Partnership

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 PSXP Phantom Units Options Exercise $0 -1,650 -100% $0.000000* 0 20 Jan 2022 Common Units 1,650 Direct F3, F4
transaction PSXP Phantom Units Award $0 +2,389 $0.000000 2,389 20 Jan 2022 Common Units 2,389 Direct F3, F4, F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These transactions do not represent the actual purchase and sale of common units by the reporting person. In accordance reporting requirements, they represent the cash settlement of a phantom unit award.
F2 The price reflected above is the average of the high and the low price of the Company's common unit on January 14, 2022.
F3 Each phantom unit is the economic equivalent of one common unit of Phillips 66 Partners LP.
F4 The phantom units do not have an expiration date.
F5 The plan dictates January 15th as the grant date, but due to that being a holiday weekend, the reporting person was not notified of the transaction until the 20th, which is the transaction date per Rule 16a-3(g).
F6 Annual grant to non-employee directors of phantom units.
F7 Phantom units vest on the third anniversary of the grant.