SEC FORM 5

SEC Form 5

FORM 5

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

Carter James S

(Last)

(First)

(Middle)

2780 WATERFRONT PKWY E. DRIVE SUITE 200

(Street)

INDIANAPOLIS

46214

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Calumet Specialty Products Partners, L.P. [ CLMT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2009

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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 at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Units	05/06/2009		M4	1,219	A	⁽¹⁾	31,479	D
Common Units	05/06/2009		M4	48	A	⁽¹⁾	31,527	D
Common Units	08/03/2009		M4	861	A	⁽¹⁾	32,388	D
Common Units	08/14/2009		M4	67	A	⁽¹⁾	32,455	D
Common Units	11/03/2009		M4	934	A	⁽¹⁾	33,389	D
Common Units	11/13/2009		M4	79	A	⁽¹⁾	33,468	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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)
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)	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Units	⁽¹⁾	05/06/2009		4A	1,219		⁽²⁾	⁽²⁾	Common Units	1,219	$12.1	1,219	D
Phantom Units	⁽¹⁾	05/06/2009		4M	1,219		⁽²⁾	⁽²⁾	Common Units	1,219	$0	0	D
Phantom Units	⁽¹⁾	05/06/2009		4A	402		⁽³⁾	⁽³⁾	Common Units	402	$12.1	402	D
Phantom Units	⁽¹⁾	05/15/2009		4A	48		⁽²⁾	⁽²⁾	Common Units	48	$11.35	48	D
Phantom Units	⁽¹⁾	05/15/2009		4M	48		⁽²⁾	⁽²⁾	Common Units	48	$0	0	D
Phantom Units	⁽¹⁾	05/15/2009		4A	16		⁽³⁾	⁽³⁾	Common Units	16	$11.35	418	D
Phantom Units	⁽¹⁾	08/04/2009		4A	861		⁽²⁾	⁽²⁾	Common Units	861	$17.13	861	D
Phantom Units	⁽¹⁾	08/04/2009		4M	861		⁽²⁾	⁽²⁾	Common Units	861	$0	0	D
Phantom Units	⁽¹⁾	08/04/2009		4A	284		⁽³⁾	⁽³⁾	Common Units	284	$17.13	702	D
Phantom Units	⁽¹⁾	08/14/2009		4A	67		⁽²⁾	⁽²⁾	Common Units	67	$14.06	67	D
Phantom Units	⁽¹⁾	08/14/2009		4M	67		⁽²⁾	⁽²⁾	Common Units	67	$0	0	D
Phantom Units	⁽¹⁾	08/14/2009		4A	22		⁽³⁾	⁽³⁾	Common Units	22	$14.06	724	D
Phantom Units	⁽¹⁾	11/03/2009		4A	934		⁽²⁾	⁽²⁾	Common Units	934	$15.8	934	D
Phantom Units	⁽¹⁾	11/03/2009		4M	934		⁽²⁾	⁽²⁾	Common Units	934	$0	0	D
Phantom Units	⁽¹⁾	11/03/2009		4A	308		⁽³⁾	⁽³⁾	Common Units	308	$15.8	1,032	D
Phantom Units	⁽¹⁾	11/13/2009		4A	79		⁽²⁾	⁽²⁾	Common Units	79	$17.17	79	D
Phantom Units	⁽¹⁾	11/13/2009		4M	79		⁽²⁾	⁽²⁾	Common Units	79	$0	0	D
Phantom Units	⁽¹⁾	11/13/2009		4A	26		⁽³⁾	⁽³⁾	Common Units	26	$17.17	1,058	D

Explanation of Responses:

1. Each Phantom Unit is the economic equivalent of a Calumet Specialty Products Partners, L.P. Common Unit

2. Each Phantom Unit becomes payable either in the form of a Common Unit or the cash value thereof upon the earlier of the date specified by the reporting person or the reporting person's termination date. Phantom Units are 100% vested.

3. Each Phantom Unit becomes payable either in the form of a Common Unit or the cash value thereof upon the earlier of the date specified by the reporting person or the reporting person's termination of service. 25% of the Phantom Units vest on January 22 of each year beginning on January 22, 2010.

	/s/ R. Patrick Murray, II, as attorney-in-fact	02/24/2010
	** 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.