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Filing Details

Accession Number:: 0001104659-17-029576
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-05-03 21:21:09
Reporting Period:: 2017-02-24

Filing Date:: 2017-05-03
Accepted Time:: 2017-05-03 21:21:09
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1362705	Sanchez Production Partners Lp	SPP	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1231922	Iii R Antonio Sanchez	1000 Main Street, Suite 3000 Houston TX 77002		Yes	No	No	No

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
Common Units	Acquisiton	2017-02-24	170,750	$11.66	170,750	No	4	A	Indirect	By SP Holdings, LLC
Common Units	Acquisiton	2017-02-24	154,737	$13.45	325,487	No	4	A	Indirect	By SP Holdings, LLC
Common Units	Disposition	2017-02-24	325,487	$0.00	0	No	4	J	Indirect	By SP Holdings, LLC
Common Units	Disposition	2017-05-01	9,000	$13.97	223,692	No	4	S	Direct
Common Units	Disposition	2017-05-02	6,000	$13.94	217,692	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	A	Indirect	By SP Holdings, LLC
No	4	A	Indirect	By SP Holdings, LLC
No	4	J	Indirect	By SP Holdings, LLC
No	4	S	Direct
No	4	S	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Units	35,320	Indirect	By Sanchez Oil & Gas Corporation

Footnotes

Represents a distribution to SP Holdings, LLC ("SP Holdings") of a total of 325,487 Issuer common units, comprised of 170,750 and 154,737 common units valued at $11.66 and $13.45 per common unit, respectively, on February 24, 2017 pursuant to the Amended and Restated Shared Services Agreement, by and between Issuer and SP Holdings, dated March 6, 2015 (the "Shared Services Agreement"), and a concurrent distribution by SP Holdings of all 325,487 common units to its sole member, SP Capital Holdings, LLC ("SP Capital"), for no consideration.
Concurrently with such aforementioned distributions, SP Capital distributed (i) 301,076 common units to its members on a pro rata basis and for no consideration (including the 78,279 common units distributed to Antonio R. Sanchez, III) and (ii) the remaining 24,411 common units to one individual, cumulatively resulting in exempt distributions under Rule 16a-9 and/or Rule 16a-13 of 325,487 common units to SP Capital, 301,076 common units to the members of SP Capital (including Antonio R. Sanchez, III) and 24,411 common units to one individual.
These common units were owned directly by SP Holdings. SP Holdings is owned and controlled by its sole member, SP Capital. SP Capital is managed by Antonio R. Sanchez, III and other members of the Sanchez family. Antonio R. Sanchez, III may be deemed to share voting and dispositive power over the securities controlled by SP Capital. Antonio R. Sanchez, III disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership by Antonio R. Sanchez, III of the reported securities for purposes of Section 16 or any other purpose.
The sales of common units directly owned by Antonio R. Sanchez, III reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan established by Antonio R. Sanchez, III and were used to satisfy Antonio R. Sanchez, III's federal income tax obligations with respect to various distributions of common units pursuant to the Shared Services Agreement.
This number represents the number of common units beneficially owned as of the date of this filing and takes into account, in addition to the transactions reported herein, other transactions reported on Form 4 and Form 5 filings since February 24, 2017, the date of the earliest transaction reported herein.
These securities are owned directly by Sanchez Oil & Gas Corporation ("SOG"). SOG is managed by Antonio R. Sanchez, III and other members of the Sanchez family. Antonio R. Sanchez, III shares voting and dispositive power over the securities controlled by SOG. Antonio R. Sanchez, III disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership by Antonio R. Sanchez, III of the reported securities for purposes of Section 16 or any other purpose.
These securities were inadvertently excluded from the immediately preceding Form 4 of Antonio R. Sanchez, III filed April 5, 2017.