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Ownership Document |
Schema Version: X0306 |
Document Type: 4 |
Period of Report: 3/9/20 |
Not Subject to Section 16: 0 |
Issuer: |
| Issuer CIK: 1587246 |
| Issuer Name: Cypress Energy Partners, L.P. |
| Issuer Trading Symbol: CELP |
Reporting Owner: |
| Reporting Owner ID: |
| | Owner CIK: 1542720 |
| | Owner Name: Herbers Jeffrey A |
| Reporting Owner Address: |
| | Owner Street 1: C/O CYPRESS ENERGY PARTNERS, L.P. |
| | Owner Street 2: 5727 S. LEWIS AVE., SUITE 300 |
| | Owner City: TULSA |
| | Owner State: OK |
| | Owner ZIP Code: 74105 |
| | Owner State Description: |
| Reporting Owner Relationship: |
| | Is Director? No |
| | Is Officer? Yes |
| | Is Ten Percent Owner? No |
| | Is Other? No |
| | Officer Title: See Remarks |
Non-Derivative Table: |
| Non-Derivative Transaction: |
| | Security Title: |
| | | Value: Common Units (Limited Partner Interests) |
| | Transaction Date: |
| | | Value: 3/9/20 |
| | Deemed Execution Date: |
| | Transaction Coding: |
| | | Transaction Form Type: 4 |
| | | Transaction Code: M |
| | | Equity Swap Involved? No |
| | Transaction Timeliness: |
| | | Value: |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 2,503 |
| | | Transaction Price Per Share: |
| Footnote ID: F1 |
| | | Transaction Acquired-Disposed Code: |
| Value: A |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 10,668 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
| Non-Derivative Transaction: |
| | Security Title: |
| | | Value: Common Units (Limited Partner Interests) |
| | Transaction Date: |
| | | Value: 3/9/20 |
| | Deemed Execution Date: |
| | Transaction Coding: |
| | | Transaction Form Type: 4 |
| | | Transaction Code: F |
| | | Equity Swap Involved? No |
| | Transaction Timeliness: |
| | | Value: |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 713 |
| | | Transaction Price Per Share: |
| Value: 6.30 |
| | | Transaction Acquired-Disposed Code: |
| Value: D |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 9,955 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
Derivative Table: |
| Derivative Transaction: |
| | Security Title: |
| | | Value: Phantom Units (Limited Partner Interests) |
| | Conversion or Exercise Price: |
| | | Footnote ID: F1 |
| | Transaction Date: |
| | | Value: 3/9/20 |
| | Deemed Execution Date: |
| | Transaction Coding: |
| | | Transaction Form Type: 4 |
| | | Transaction Code: M |
| | | Equity Swap Involved? No |
| | Transaction Timeliness: |
| | | Value: |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 2,503 |
| | | Transaction Price Per Share: |
| Footnote ID: F1 |
| | | Transaction Acquired-Disposed Code: |
| Value: D |
| | Exercise Date: |
| | | Footnote ID: F2 |
| | Expiration Date: |
| | | Footnote ID: F3 |
| | Underlying Security: |
| | | Underlying Security Title: |
| Value: Common Units (Limited Partner Interests) |
| | | Underlying Security Shares: |
| Value: 2,503 |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 5,008 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
Footnotes: |
| Footnote - F1: Each phantom unit is the economic equivalent of one common unit. |
| Footnote - F2: On March 9, 2017, the Reporting Person was granted 7,511 phantom units which vest in equal installments on March 9, 2020, 2021 and 2022, subject to Reporting Person's continued service with the Issuer through the applicable vesting dates. |
| Footnote - 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 Energy 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. |
Owner Signature: |
| Signature Name: /s/ Jonathan M. Cinocca, Attorney-in-Fact for Jeffrey A. Herbers |
| Signature Date: 3/11/20 |