0000899243-22-025609.txt : 20220707
0000899243-22-025609.hdr.sgml : 20220707
20220707063026
ACCESSION NUMBER: 0000899243-22-025609
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220622
FILED AS OF DATE: 20220707
DATE AS OF CHANGE: 20220707
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Herbers Jeffrey A
CENTRAL INDEX KEY: 0001542720
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36260
FILM NUMBER: 221070612
MAIL ADDRESS:
STREET 1: 6120 SOUTH YALE AVENUE
STREET 2: SUITE 805
CITY: TULSA
STATE: OK
ZIP: 74136
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Cypress Environmental Partners, L.P.
CENTRAL INDEX KEY: 0001587246
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389]
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 5727 S. LEWIS AVENUE, SUITE 500
CITY: TULSA
STATE: OK
ZIP: 74105
BUSINESS PHONE: 918-748-3900
MAIL ADDRESS:
STREET 1: 5727 S. LEWIS AVENUE, SUITE 500
CITY: TULSA
STATE: OK
ZIP: 74105
FORMER COMPANY:
FORMER CONFORMED NAME: Cypress Energy Partners, L.P.
DATE OF NAME CHANGE: 20130919
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2022-06-22
1
0001587246
Cypress Environmental Partners, L.P.
CELP
0001542720
Herbers Jeffrey A
C/O CYPRESS ENVIRONMENTAL PARTNERS, L.P.
5727 S. LEWIS AVENUE, SUITE 300
TULSA
OK
74105
0
1
0
0
See Remarks
Common Units (Limited Partner Interests)
2022-06-22
4
D
0
19342
0.00
D
0
D
Phantom Units (Limited Partner Interests)
2022-06-22
4
D
0
39267
0.00
D
Common Units (Limited Partner Interests)
39267
0
D
Unit Appreciation Right
2022-06-22
4
D
0
115000
0.00
D
Common Units (Limited Partner Interests)
115000
0
D
On May 8, 2022, Cypress Environmental Partners, L.P., a Delaware limited partnership (the "Issuer"), and certain of its subsidiaries (together with the Issuer, the "Company") commenced voluntary cases under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). On June 21, 2022, the Bankruptcy Court entered an order an order confirming the Second Modified Joint Prepackaged Chapter 11 Plan of Reorganization of Cypress Environmental Partners, L.P. and its Debtor Affiliates (as amended, modified or supplemented from time to time, the "Plan"). On June 22, 2022 (the "Effective Date"), the Plan became effective in accordance with its terms and the Company emerged from chapter 11.
(Continued from Footnote 1) On the Effective Date, all outstanding common units representing limited partner interests in the Issuer and all outstanding unit appreciation rights were cancelled and extinguished in accordance with the Plan approved by the Bankruptcy Court.
Upon vesting, each phantom unit converts into a common unit on a one for one basis, or into cash, at the discretion of the Issuer. The phantom units expire upon settlement.
Unit Appreciation Rights ("UARs") that vest represent the right to receive payment, in an amount equal to the excess, if any, of the fair market value of one Common Unit over the per Unit exercise price of the UAR upon exercise of the UAR. UARs vest into cash or common units (valued at the fair market value on the date of exercises), or a combination thereof, as determined by the Company.
The Reporting Person is Chief Financial Officer of Cypress Environmental 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.
/s/ Jonathan M. Cinocca, Attorney-in-Fact for Jeffrey A. Herbers
2022-06-30