Rick Jacob Settle - 31 Jan 2023 Form 4 Insider Report for TXO Energy Partners, L.P. (TXO)

Role
Director, Other*
Signature
/s/ Brent W. Clum, Attorney-in-fact
Issuer symbol
TXO
Transactions as of
31 Jan 2023
Net transactions value
$0
Form type
4
Filing time
02 Feb 2023, 15:05:31 UTC
Previous filing
26 Jan 2023
Next filing
02 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TXO Common Units Conversion of derivative security +4,552 +64% 11,716 31 Jan 2023 By MorningStar Partners II, L.P. F1, F2, F3
transaction TXO Common Units Award $0 +4,500 $0.000000 4,500 31 Jan 2023 Direct F4

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 TXO Series 5 Preferred Units Conversion of derivative security $0 -1 -100% $0.000000* 0 31 Jan 2023 Common Units 4,552 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Immediately prior to the closing of the Issuer's initial public offering, the Issuer's series 5 preferred units automatically converted into common units of the Issuer.
F2 Reflects securities acquired in a transaction exempt from reporting pursuant to Rule 16a-13.
F3 Reflects the number of units beneficially held following a 1-for-25.33 reverse unit split effected by the Issuer on January 31, 2023, which was exempt from reporting pursuant to Rule 16a-9.
F4 Reflects phantom units. Each phantom unit is the economic equivalent of one common unit of the Issuer and will be settled in common units upon vesting. The phantom units will vest on January 31, 2024.

Remarks:

The Reporting Person is a Director of TXO Energy 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.