FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Copano Energy, L.L.C. [ CPNO ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 11/15/2004 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Units | 11/15/2004 | J(1) | 763,221 | A | (1) | 763,221 | I | By Copano Partners, L.P.(2) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Subordinated Units | (3) | 11/15/2004 | J(1) | 1,317,733 | (4) | (4) | Common Units | 1,317,733 | (1) | 1,317,733 | I | By Copano Partners, L.P.(2) |
Explanation of Responses: |
1. The Common Units and Subordinated Units were issued to Copano Partners, L.P. in exchange for all of Copano Partners, L.P.'s outstanding interest in Copano Energy, L.L.C. The number of Common Units and Subordinated Units received by Copano Partners, L.P. in exchange for its outstanding interest in Copano Energy, L.L.C. was based on a price of $20.00 per Common Unit and Subordinated Unit. |
2. All of the Common Units and Subordinated Units listed above are owned by Copano Partners, L.P. Mr. Eckel is one of the trustees of a number of grantor trusts that indirectly own all of the outstanding partnership interests of Copano Partners, L.P. Mr. Eckel shares voting and investment control over trust assets. Mr. Eckel disclaims beneficial ownership of 248,802 of the Common Units and 429,568 of the Subordinated Units listed above, which represent the portion of the trusts' holdings in which he does not have a pecuniary interest. |
3. Each Subordinated Unit is convertible into one Common Unit under the conditions described in footnote 4. |
4. Each Subordinated Unit will convert into one Common Unit at the end of the subordination period, which will end once Copano Energy, L.L.C. meets certain financial tests, but not before December 31, 2006. These financial tests require Copano Energy, L.L.C. to have earned and paid the minimum quarterly distribution on all of its outstanding units for two consecutive four-quarter periods. |
John R. Eckel, Jr. | 11/17/2004 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |