Dan Borgen - 16 Feb 2023 Form 4 Insider Report for USD Partners LP (USDP)

Role
Officer, Director
Signature
/s/ Adam K. Altsuler, Attorney-in-Fact for Daniel Kent Borgen
Issuer symbol
USDP
Transactions as of
16 Feb 2023
Net transactions value
-$181,152
Form type
4
Filing time
21 Feb 2023, 15:19:03 UTC
Previous filing
18 Feb 2022
Next filing
20 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction USDP COMMON UNITS (LIMITED PARTNER INTERESTS) Award $0 +90,239 +17% $0.000000 620,857 16 Feb 2023 Direct F1, F2
transaction USDP COMMON UNITS (LIMITED PARTNER INTERESTS) Tax liability $181,152 -51,173 -8.2% $3.54 569,684 16 Feb 2023 Direct F3, F4
holding USDP COMMON UNITS (LIMITED PARTNER INTERESTS) 193,419 16 Feb 2023 By KKB Holdings LLC
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the grant of phantom units. Each phantom unit is the economic equivalent of one common unit of USDP. The phantom units vest in four annual installments commencing on the one-year anniversary of the issuance date.
F2 Includes 373,438 phantom units.
F3 Represents common units of limited partnership interest withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person upon vesting of outstanding phantom units.
F4 Includes 256,221 phantom units.

Remarks:

The Reporting Person is President and Chief Executive Officer and a director of USD 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.