Dan Borgen - Feb 16, 2022 Form 4 Insider Report for USD Partners LP (USDP)

Role: Officer, Director
Signature: /s/ Adam K. Altsuler, Attorney-in-Fact for Daniel Kent Borgen
Stock symbol: USDP
Transactions as of: Feb 16, 2022
Transactions value $: -$300,836
Form type: 4
Date filed: 2/18/2022, 03:37 PM
Previous filing: Sep 24, 2021
Next filing: Feb 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	USDP	COMMON UNITS (LIMITED PARTNER INTERESTS)	Award	$0	+98.2K	+20.29%	$0.00	582K	Feb 16, 2022	Direct	F1, F2
transaction	USDP	COMMON UNITS (LIMITED PARTNER INTERESTS)	Tax liability	-$301K	-51.4K	-8.84%	$5.85^*	531K	Feb 16, 2022	Direct	F3, F4
holding	USDP	COMMON UNITS (LIMITED PARTNER INTERESTS)						193K	Feb 16, 2022	By KKB Holdings LLC

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the grant of phantom units. Each phantom unit is the economic equivalent of one common unit of USDP. The phantom units vest in four annual installments commencing on the one-year anniversary of the issuance date.
F2	Includes 402,372 phantom units.
F3	Represents common units of limited partnership interest withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person upon vesting of outstanding phantom units.
F4	Includes 283,199 phantom units.

Remarks:

The Reporting Person is President and Chief Executive Officer and a director of USD 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.