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

Signature
/s/ Adam K. Altsuler, Attorney-in-Fact for Daniel Kent Borgen
Stock symbol
USDP
Transactions as of
Feb 16, 2023
Transactions value $
-$181,152
Form type
4
Date filed
2/21/2023, 03:19 PM
Previous filing
Feb 18, 2022
Next filing
Jun 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction USDP COMMON UNITS (LIMITED PARTNER INTERESTS) Award $0 +90.2K +17.01% $0.00 621K Feb 16, 2023 Direct F1, F2
transaction USDP COMMON UNITS (LIMITED PARTNER INTERESTS) Tax liability -$181K -51.2K -8.24% $3.54 570K Feb 16, 2023 Direct F3, F4
holding USDP COMMON UNITS (LIMITED PARTNER INTERESTS) 193K Feb 16, 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.