Home > Insider Trading > Filing (0001568939-16-000004)

Filing Details

Accession Number:: 0001568939-16-000004
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-08-17 12:33:57
Reporting Period:: 2016-08-01

Filing Date:: 2016-08-17
Accepted Time:: 2016-08-17 12:33:57
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1362705	Sanchez Production Partners Lp	SPP	Crude Petroleum & Natural Gas (1311)	113742489

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1375511	Ltd Offshore Hedge Hite	C/O Walkers Corporate Services Limited Walker House George Town, Grand Cayman E9 KY1-9005	No	No	No	Yes
1496278	Hite Hedge Lp	One Gateway Center Suite 308 Newton MA 02458	No	No	Yes	No
1519590	Hite Mlp Lp	300 Washington Street Suite 308 Newton MA 02458	No	No	Yes	No
1520872	Ltd. Caymans Mlp Hite	C/O Walkers Spv Limited Walker House, 87 Mary Street George Town E9 KY1-9001	No	No	No	Yes
1559404	Hite Mlp Advantage Lp	One Gateway Center, Suite 308 300 Washington Street Newton MA 02458	No	No	Yes	No
1568939	Hite Hedge Asset Management Llc	One Gateway Center Suite 308 Newton MA 02458	No	No	Yes	No
1617140	Hite Hedge Qp Lp	One Gateway Center, Suite 308 Newton MA 02458	No	No	Yes	No
1672471	M James Jampel	300 Washington Street, Suite 308 Newton MA 02458	No	No	No	Yes

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Sanchez Production Partners	Disposition	2016-08-09	3,388	$10.68	551,885	No	4	S	Direct
Sanchez Production Partners	Disposition	2016-08-11	10,000	$10.71	541,885	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

Show Other Fields >>

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Sanchez Production Partners	Cash Settled Equity Swap	Disposition	2016-08-01	7,600	$10.59	7,600	$0.00
Sanchez Production Partners	Cash Settled Equity Swaps	Disposition	2016-08-02	2,589	$10.58	2,589	$0.00
Sanchez Production Partners	Cash Settled Equity Swaps	Disposition	2016-08-03	100	$10.53	100	$0.00
Sanchez Production Partners	Cash Settled Equity Swap	Disposition	2016-08-04	900	$10.50	900	$0.00
Sanchez Production Partners	Cash Settled Equity Swap	Disposition	2016-08-08	6,092	$10.81	6,092	$0.00
Sanchez Production Partners	Cash Settled Equity Swap	Disposition	2016-08-09	3,300	$10.75	3,300	$0.00
Sanchez Production Partners	Cash Settled Equity Swap	Disposition	2016-08-10	1,292	$10.70	1,292	$0.00
Sanchez Production Partners	Cash Settled Equity Swap	Disposition	2016-08-11	10,000	$10.71	10,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
135,135	2016-12-31	2016-12-31	Yes	4	S	Indirect
132,546	2016-12-31	2016-12-31	Yes	4	S	Indirect
132,446	2016-12-31	2016-12-31	Yes	4	S	Indirect
131,546	2016-12-31	2016-12-31	Yes	4	S	Indirect
121,454	2016-12-31	2016-12-31	Yes	4	S	Indirect
122,154	2016-12-31	2016-12-31	Yes	4	S	Indirect
120,862	2016-12-31	2016-12-31	Yes	4	S	Indirect
110,862	2016-12-31	2016-12-31	Yes	4	S	Indirect

Footnotes

The securities disclosed in this Form 4 may be deemed indirectly beneficially owned by HITE Hedge Asset Management LLC. The securities are directly held by HITE Hedge LP, HITE MLP LP, HITE Hedge QP, and HITE MLP Advantage LP (collectively, the "HITE Funds"), for which HITE Hedge Asset Management LLC is the investment advisor. Mr. Jampel serves as Managing Member of HITE Hedge Asset Management LLC.
(Continued from footnote 1) Each of HITE Hedge Asset Management LLC and Mr. Jampel may be deemed to be the indirect beneficial owners of such Common Units held by the HITE Funds by virtue of their direct and indirect control of the HITE funds.
(Continued from footnote 2) the reporting Persons are filing this report because each of the Reporting Persons is a member of a Section 13(g) group with HITE Hedge Asset Management LLC as disclosed in a Schedule 13G filed on behalf of the Reporting Persons on April 22, 2016. As of April 22, 2016, the member of this Section 13(g) group collectively owned more than 10% of the Issuer's outstanding Common Units. Each Reporting Person disclaims beneficial ownership of the Common Units reported herein except to the extent of his or its pecuniary interest therein.
The number of Common Units reported herein does not include an additional aggregate 204,474 common units HITE believes the Reporting Persons are entitled to receive pursuant to the terms of the Issuer's Amended and Restated Agreement of Limited Partnership, dated as of August 3, 2015. The Reporting Persons are in discussions with the Issuer about their entitlement to these Common Units.
In addition to the Common Units reported herein, two other funds (HITE Hedge Offshore, Ltd., HITE MLP Caymans Ltd.) for which HITE serves as investment advisor have exposure to 169,000 (110,762 after the sales) through cash-settled equity swaps (the "Equity Swaps") under which its profit will be bad upon ay increase in value in the common units and its loss will be based upon any decrease in the value of the common units over the term of the transactions. The Equity Swaps may only be settled in cash and do not give the Reporting Persons direct or indirect voting, investment or dispositive control over any common units and do not require the counterpart thereto to acquire, hold, vote or dispose of any securities of the Issuer. Accordingly, the Reporting Persons disclaim any beneficial ownership of any common units that may be referenced in the swap contracts or other securities or financial instruments that may be held from time to time by any counterparty to the contracts.