0001193125-14-206643.txt : 20140520 0001193125-14-206643.hdr.sgml : 20140520 20140520165259 ACCESSION NUMBER: 0001193125-14-206643 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140520 DATE AS OF CHANGE: 20140520 GROUP MEMBERS: TESORO ALASKA CO GROUP MEMBERS: TESORO LOGISTICS GP, LLC GROUP MEMBERS: TESORO REFINING & MARKETING CO LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TESORO LOGISTICS LP CENTRAL INDEX KEY: 0001507615 STANDARD INDUSTRIAL CLASSIFICATION: PIPE LINES (NO NATURAL GAS) [4610] IRS NUMBER: 274151603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-86251 FILM NUMBER: 14858518 BUSINESS ADDRESS: STREET 1: 19100 RIDGEWOOD PARKWAY CITY: SAN ANTONIO STATE: TX ZIP: 78259 BUSINESS PHONE: 210-626-6000 MAIL ADDRESS: STREET 1: 19100 RIDGEWOOD PARKWAY CITY: SAN ANTONIO STATE: TX ZIP: 78259 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TESORO CORP /NEW/ CENTRAL INDEX KEY: 0000050104 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 950862768 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 19100 RIDGEWOOD PKWY CITY: SAN ANTONIO STATE: TX ZIP: 78259-1828 BUSINESS PHONE: 210 626-6000 MAIL ADDRESS: STREET 1: 19100 RIDGEWOOD PKWY CITY: SAN ANTONIO STATE: TX ZIP: 78259-1828 FORMER COMPANY: FORMER CONFORMED NAME: TESORO PETROLEUM CORP /NEW/ DATE OF NAME CHANGE: 19920703 SC 13D/A 1 d728946dsc13da.htm SC 13D/A SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

 

Tesoro Logistics LP

(Name of Issuer)

Common Units

(Title of Class of Securities)

88160T107

(CUSIP Number)

Bryn Sappington

Fulbright & Jaworski LLP

2200 Ross Avenue, Suite 2800

Dallas, Texas 75201-2784

(214) 855-7180

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

May 16, 2014

(Date of event which requires filing of this statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because § 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g) check the following box  ¨.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 

 

 


CUSIP No: 88160T107  

 

  1   

NAMES OF REPORTING PERSONS.

Tesoro Corporation

 

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

27-4151603

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)  ¨

(b)  x

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS

 

AF

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

¨

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

SOLE VOTING POWER

 

6,920,7341

     8   

SHARED VOTING POWER

 

12,189,9801

     9   

SOLE DISPOSITIVE POWER

 

6,920,7341

   10   

SHARED DISPOSITIVE POWER

 

12,189,9801

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

19,110,7141

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

35.1%2

14  

TYPE OF REPORTING PERSON

 

CO

 

1. Includes the conversion of all 15,254,890 issued and outstanding subordinated units representing limited partner interests in the Issuer, which were converted into common units representing limited partner interests in the Issuer (“Common Units”) on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership. The Reporting Person may also be deemed to be the indirect beneficial owner of the 2.0% general partner interest in the Issuer.
2. Based upon approximately 54,455,552 Common Units issued and outstanding as of May 16, 2014, with such figure provided to the Reporting Persons by the Issuer.


CUSIP No: 88160T107  

 

  1   

NAMES OF REPORTING PERSONS.

Tesoro Refining & Marketing Company LLC

 

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

76-0489496

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)  ¨

(b)  x

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS

 

AF

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

¨

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

SOLE VOTING POWER

 

0

     8   

SHARED VOTING POWER

 

11,618,9151

     9   

SOLE DISPOSITIVE POWER

 

0

   10   

SHARED DISPOSITIVE POWER

 

11,618,9151

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

11,618,9151

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

21.3%2

14  

TYPE OF REPORTING PERSON

 

OO

 

1. Includes the conversion of all 15,254,890 issued and outstanding subordinated units representing limited partner interests in the Issuer, which were converted into common units representing limited partner interests in the Issuer (“Common Units”) on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership. The Reporting Person may also be deemed to be the indirect beneficial owner of the 2.0% general partner interest in the Issuer.
2. Based upon approximately 54,455,552 Common Units issued and outstanding as of May 16, 2014, with such figure provided to the Reporting Persons by the Issuer.


CUSIP No: 88160T107  

 

  1   

NAMES OF REPORTING PERSONS.

Tesoro Alaska Company

 

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

74-1646130

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)  ¨

(b)  x

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS

 

AF

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

¨

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

SOLE VOTING POWER

 

0

     8   

SHARED VOTING POWER

 

571,0651

     9   

SOLE DISPOSITIVE POWER

 

0

   10   

SHARED DISPOSITIVE POWER

 

571,0651

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

571,0651

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

1.0%2

14  

TYPE OF REPORTING PERSON

 

CO

 

1. Includes the conversion of all 15,254,890 issued and outstanding subordinated units representing limited partner interests in the Issuer, which were converted into common units representing limited partner interests in the Issuer (“Common Units”) on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership.
2. Based upon approximately 54,455,552 Common Units issued and outstanding as of May 16, 2014, with such figure provided to the Reporting Persons by the Issuer.


CUSIP No: 88160T107  

 

  1   

NAMES OF REPORTING PERSONS.

Tesoro Logistics GP, LLC

 

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

27-4151395

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)  ¨

(b)  x

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

¨

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

SOLE VOTING POWER

 

0

     8   

SHARED VOTING POWER

 

3,550,9341

     9   

SOLE DISPOSITIVE POWER

 

0

   10   

SHARED DISPOSITIVE POWER

 

3,550,9341

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,550,9341

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

6.5%2

14  

TYPE OF REPORTING PERSON

 

OO

 

1. Includes common units representing limited partner interests in the Issuer (“Common Units”). The Reporting Person, sole general partner of the Issuer, owns 1,110,282 general partner units representing a 2.0% general partner interest in the Issuer, as well as incentive distribution rights in the Issuer, entitling the Reporting Person to receive increasing percentages of quarterly distributions in excess of specified amounts.
2. Based upon approximately 54,455,552 Common Units issued and outstanding as of May 16, 2014, with such figure provided to the Reporting Persons by the Issuer.


Explanatory Note: This Amendment No. 3 amends and supplements the statement on Schedule 13D filed by Tesoro Corporation (“Tesoro”), Tesoro Refining and Marketing Company (“TRMC”), Tesoro Alaska Company (“Tesoro Alaska”) and Tesoro Logistics GP, LLC (the “General Partner”) on September 14, 2012, and as amended on June 3, 2013 and December 9, 2013 (the “Initial Statement”).

 

Item 2. Identity and Background.

Item 2 of the Initial Statement is hereby supplemented as follows:

The information required by subparagraphs (a), (b), (c) and (f) of this Item with respect to the directors and executive officers of the Reporting Persons is set forth on Schedule A attached hereto and is incorporated herein by reference. Such schedule amends and restates, as to the information required by such subparagraphs, the information contained in Schedule A of the Initial Statement.

 

Item 3. Source and Amount of Funds or Other Consideration.

Item 3 of the Initial Statement is hereby supplemented as follows:

All 15,254,890 issued and outstanding subordinated units representing limited partner interests in the Issuer (“Subordinated Units”) were converted into common units representing limited partner interests in the Issuer (“Common Units”) on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership.

 

Item 5. Interest in Securities of the Issuer.

Item 5(a) of the Initial Statement is amended and restated as follows:

(a) Items 11 and 13 of each Cover Page state the aggregate number and percentage of Common Units beneficially owned by the applicable Reporting Person. Such information is incorporated herein by reference.

All 15,254,890 issued and outstanding Subordinated Units were converted into Common Units on a one-for-one basis, effective May 16, 2014, upon the expiration of the subordination period as set forth in the Issuer’s First Amended and Restated Agreement of Limited Partnership. As of May 16, 2014, the approximate number of Common Units issued and outstanding is 54,455,552.

As of May 16, 2014, (i) Tesoro is the record holder of 6,920,734 Common Units, over which it has sole voting and dispositive power; (ii) TRMC is the record holder of 8,067,981 Common Units, over which it shares voting and dispositive power with Tesoro due to Tesoro’s ownership of 100% of the securities of TRMC; and (iii) Tesoro Alaska is the record holder of 571,065 Common Units, over which it shares voting and dispositive power with Tesoro due to Tesoro’s ownership of 100% of the securities of Tesoro Alaska.


As of May 16, 2014, the General Partner is the record holder of 3,550,934 Common Units. The General Partner shares voting and dispositive power over these Common Units with Tesoro and TRMC due to Tesoro’s and TRMC’s collective ownership of 100% of the General Partner’s membership interests (4% and 96%, respectively).

The number of Common Units held by each of the Reporting Person’s directors and executive officers is set forth on Schedule A and is incorporated herein by reference.

Each of the Reporting Persons disclaims beneficial ownership of the securities held by others, including the other Reporting Persons, except to the extent of such Reporting Person’s pecuniary interest therein, if any.


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: May 20, 2014

 

TESORO CORPORATION
By:  

/s/ Charles S. Parrish

Charles S. Parrish

Executive Vice President, General

Counsel and Secretary

TESORO REFINING &

MARKETING COMPANY LLC

By:  

/s/ Charles S. Parrish

Charles S. Parrish
Executive Vice President and Secretary
TESORO ALASKA COMPANY
By:  

/s/ Charles S. Parrish

Charles S. Parrish

Executive Vice President, General

Counsel and Secretary

TESORO LOGISTICS GP, LLC
By:  

/s/ Charles S. Parrish

Charles S. Parrish
Vice President, General Counsel and Secretary


SCHEDULE A

DIRECTORS AND EXECUTIVE OFFICERS OF TESORO CORPORATION

The business address of each person listed below is c/o Tesoro Corporation, 19100 Ridgewood Parkway, San Antonio, Texas 78259-1828. Each person is a United States citizen.

Directors:

 

Name

  

Present Principal Occupation

   Common
Units Held
 

Rodney F. Chase

   Non-Executive Chairman for Genel Energy, plc      0   

Gregory J. Goff

   President and Chief Executive Officer of Tesoro Corporation      35,653   

Robert W. Goldman

   Independent Financial Consultant      4,100   

Steven H. Grapstein

   Chief Executive Officer of Como Holdings USA, Inc.      5,000   

Mary Pat McCarthy

   Retired      0   

David Lilley

   Retired      0   

J.W. Nokes

   Retired      0   

Susan Tomasky

   Retired      0   

Michael E. Wiley

   Retired      0   

Patrick Y. Yang

   Retired      0   

Executive Officers:

 

Name

  

Position at Tesoro Corporation

   Common
Units Held
 

Gregory J. Goff

   President and Chief Executive Officer      35,653   

Charles S. Parrish

   Executive Vice President, General Counsel and Secretary      5,782   

G. Scott Spendlove

   Senior Vice President, Chief Financial Officer      5,782   

Daryl R. Schofield

   Senior Vice President, Commercial      0   

Arlen O. Glenewinkel, Jr.

   Vice President and Controller      0   

Keith M. Casey

   Senior Vice President, Strategy and Business Development      0   

[Schedule A Continues on Next Page]


DIRECTORS AND EXECUTIVE OFFICERS OF

TESORO REFINING & MARKETING COMPANY LLC

The business address of each person listed below is c/o Tesoro Refining & Marketing Company LLC, 19100 Ridgewood Parkway, San Antonio, Texas 78259-1828. Each person is a United States citizen.

Directors:

 

Name

  

Present Principal Occupation

   Common
Units Held
 

Gregory J. Goff

   President and Chief Executive Officer of Tesoro Corporation      35,653   

Charles S. Parrish

   Executive Vice President, General Counsel and Secretary of Tesoro Corporation      5,782   

G. Scott Spendlove

   Senior Vice President and Chief Financial Officer of Tesoro Corporation      5,782   

Executive Officers:

 

Name

  

Position at Tesoro Refining and Marketing Company

   Common
Units Held
 

Gregory J. Goff

   President and Chief Executive Officer      35,653   

Charles S. Parrish

   Executive Vice President and Secretary      5,782   

G. Scott Spendlove

   Senior Vice President, Chief Financial Officer      5,782   

Daryl R. Schofield

   Senior Vice President, Commercial      0   

Arlen O. Glenewinkel, Jr.

   Vice President and Controller      0   

Keith M. Casey

   Senior Vice President, Strategy and Business Development      0   

[Schedule A Continues on Next Page]


DIRECTORS AND EXECUTIVE OFFICERS OF TESORO ALASKA COMPANY

The business address of each person listed below is c/o Tesoro Alaska Company, 19100 Ridgewood Parkway, San Antonio, Texas 78259-1828. Each person is a United States citizen.

Directors:

 

Name

  

Present Principal Occupation

   Common
Units Held
 

Gregory J. Goff

   President and Chief Executive Officer of Tesoro Corporation      35,653   

Charles S. Parrish

   Executive Vice President, General Counsel and Secretary of Tesoro Corporation      5,782   

G. Scott Spendlove

   Senior Vice President and Chief Financial Officer of Tesoro Corporation      5,782   

Executive Officers:

 

Name

  

Position at Tesoro Alaska Company

   Common
Units Held
 

Gregory J. Goff

   President and Chief Executive Officer      35,653   

Charles S. Parrish

   Executive Vice President, General Counsel and Secretary      5,782   

G. Scott Spendlove

   Senior Vice President, Chief Financial Officer      5,782   

Daryl R. Schofield

   Senior Vice President, Commercial      0   

Arlen O. Glenewinkel, Jr.

   Vice President and Controller      0   

Keith M. Casey

   Senior Vice President, Strategy and Business Development      0   

[Schedule A Continues on Next Page]


DIRECTORS AND EXECUTIVE OFFICERS OF TESORO LOGISTICS GP, LLC

The business address of each person listed below is c/o Tesoro Logistics GP, LLC, 19100 Ridgewood Parkway, San Antonio, Texas 78259-1828. Each person is a United States citizen.

Directors:

 

Name

  

Present Principal Occupation

   Common
Units Held
 

Gregory J. Goff

   President and Chief Executive Officer of Tesoro Corporation      35,653   

Raymond J. Bromark

   Retired      8,037   

James H. Lamanna

   President of Timeless Triumph LLC (a consulting firm)      5,019   

Thomas C. O’Connor

   President and Chief Executive Officer of DCP Midstream, LLC      12,802   

Phillip M. Anderson

   President of Tesoro Logistics GP, LLC      16,251   

Charles S. Parrish

   Executive Vice President, General Counsel and Secretary of Tesoro Corporation      5,782   

G. Scott Spendlove

   Senior Vice President and Chief Financial Officer of Tesoro Corporation      5,782   

Keith M. Casey

   Senior Vice President, Strategy and Business Development of Tesoro Corporation      0   

Executive Officers:

 

Name

  

Position at Tesoro Logistics GP, LLC

   Common
Units Held
 

Gregory J. Goff

   Chairman of the Board and Chief Executive Officer      35,653   

Phillip M. Anderson

   President      16,251   

Charles S. Parrish

   Vice President, General Counsel and Secretary      5,782   

G. Scott Spendlove

   Vice President and Chief Financial Officer      5,782   

Arlen O. Glenewinkel, Jr.

   Vice President and Controller      0   

Keith M. Casey

   Vice President, Strategy      0   

[Schedule A Continues on Next Page]


TRANSACTIONS BY THE DIRECTORS AND EXECUTIVE OFFICERS OF THE

REPORTING PERSONS

 

  None.

[End of Schedule A]