Eric D. Long - Dec 16, 2022 Form 4 Insider Report for USA Compression Partners, LP (USAC)

Role
Officer, Director
Signature
/s/ Eric D. Long
Stock symbol
USAC
Transactions as of
Dec 16, 2022
Transactions value $
-$1,150,825
Form type
4
Date filed
12/20/2022, 03:50 PM
Previous filing
Dec 13, 2022
Next filing
Nov 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction USAC Common Units Options Exercise +25.1K +5.29% 499K Dec 16, 2022 Direct F1, F2, F3
transaction USAC Common Units Disposed to Issuer -$230K -12.5K -2.51% $18.37 487K Dec 16, 2022 Direct F3
transaction USAC Common Units Options Exercise +100K +20.6% 587K Dec 16, 2022 Direct F1, F2, F3
transaction USAC Common Units Disposed to Issuer -$921K -50.1K -8.54% $18.37 537K Dec 16, 2022 Direct F3
holding USAC Common Units 23.2K Dec 16, 2022 By Alex B Long Trust F3, F4
holding USAC Common Units 33.2K Dec 16, 2022 By Adam Ericson Long Trust F3, F4
holding USAC Common Units 17.6K Dec 16, 2022 By Aladdin Partners, L.P. F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction USAC Phantom Units Options Exercise -25.1K -60% 16.7K Dec 16, 2022 Common Units 25.1K Direct F1, F2, F5, F6, F7
transaction USAC Phantom Units Options Exercise -100K -60% 66.8K Dec 16, 2022 Common Units 100K Direct F1, F2, F6, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each phantom unit is the economic equivalent of one common unit of USA Compression Partners, LP (the "Issuer").
F2 The Reporting Person settled approximately 50% of his newly vested phantom units for cash and the rest for common units.
F3 Includes common units acquired under USA Compression Partners, LP Distribution Reinvestment Plan.
F4 Common units held by each of the Alex B. Long Trust and the Adam Ericson Long Trust, of which the Reporting Person is the trustee under agreements dated April 17, 2007.
F5 These phantom units were awarded on December 5, 2019 pursuant to a Retention Phantom Unit Agreement.
F6 The phantom units vest incrementally, with 60% of the phantom units vesting on December 5, 2022 and 40% of the phantom units vesting on December 5, 2024.
F7 In the event of the cessation of the Reporting Person's service by the General Partner for cause or by the Reporting Person without good reason, all unvested phantom units at the time of such cessation will automatically be forfeited. Notwithstanding the foregoing, if the Reporting Person retires after attaining the age of 65, 60% of his then-unvested phantom units will be forfeited at the time of retirement.
F8 These phantom units were awarded on December 5, 2019.
F9 In the event of the cessation of the Reporting Person's service for any reason, all phantom units that have not vested prior to or in connection with such cessation of service shall automatically be forfeited. Notwithstanding the foregoing, if the Reporting Person retires after attaining the age of 65, 60% of his then-unvested phantom units will be forfeited at the time of retirement.

Remarks:

The Reporting Person is the President, Chief Executive Officer and Director of USA Compression 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.