Hi-Crush Partners LP (NYSE:HCLP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On January9, 2017, Hi-Crush Partners LP (the Partnership) held a
special meeting of its unitholders (the Special Meeting). At the
Special Meeting, the Partnerships unitholders approved the first
amendment and restatement to the Partnerships Long Term Incentive
Plan (the Restated LTIP), which, among other things, provided for
an increase in the number of common units of the Partnership
reserved and available for delivery with respect to awards under
the Restated LTIP by 2,700,000 common units to an aggregate of
4,064,035 common units. Following receipt of approval from the
Partnerships unitholders at the Special Meeting, the Restated
LTIP was made effective as of September21, 2016.
A more detailed description of the material terms of the Restated
LTIP is set forth in the Partnerships definitive proxy statement
on Schedule 14A for the special meeting filed with the Securities
and Exchange Commission on October21, 2016, under the heading
Approval of the First Amended and Restated Long-Term Incentive
Plan and such description is incorporated herein by reference. In
addition, the foregoing summary of the Restated LTIP is qualified
in its entirety by reference to the full text of the Restated
LTIP, which is attached hereto as Exhibit 10.1 and incorporated
by reference herein.
Item5.07. Submission of Matters to Vote of Security
Holders.
On January9, 2017, the Partnership held the Special Meeting, at
which the Partnerships unitholders were asked to (i)approve the
Restated LTIP, as described in more detail under Item5.02 above
(the Restated LTIP Proposal), and (ii)to approve the adjournment
of the Special Meeting to a later date or dates, if necessary or
appropriate, to solicit additional proxies in the event there
were not sufficient votes at the time of the special meeting to
approve the Restated LTIP (the Adjournment Proposal).
The certified results of the matters voted upon at the Special
Meeting are as follows:
Proposal 1 – Restated LTIP:
The unitholders approved the Restated LTIP Proposal. The voting
results were as follows:
|
|
|
|
|
|||
| 30,038,995 | 2,174,593 | 337,737 | N/A |
Proposal 2 -Adjournment Proposal:
The unitholders approved the Adjournment Proposal. The voting
results were as follows:
|
|
|
|
|
|||
| 30,454,494 | 1,747,796 | 349,037 | N/A |
1
Item9.01 – Financial Statements and Exhibits
(d) |
Exhibits |
|
|
|
|
| 10.1 |
Hi-Crush Partners LP First Amended and Restated Long Term Incentive Plan |
2
About Hi-Crush Partners LP (NYSE:HCLP)
Hi-Crush Partners LP is a producer and supplier of monocrystalline sand. The Company is a limited partnership formed to acquire selected sand reserves and related processing and transportation facilities of Hi-Crush Proppants LLC. It operates in Frac Sand Sales segment. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States. It owns, operates and develops sand reserves, and related excavation and processing facilities. Its 857-acre facility with rail infrastructure, located in Wyeville, Wisconsin (the Wyeville facility) contains approximately 82.1 million tons of proven recoverable reserves of frac sand meeting American Petroleum Institute (API) specifications. It also holds approximately 98% interest in Augusta facility, which is located in Eau Claire County, Wisconsin and contains over 40.9 million tons of proven recoverable reserves of frac sand meeting API specifications. Hi-Crush Partners LP (NYSE:HCLP) Recent Trading Information
Hi-Crush Partners LP (NYSE:HCLP) closed its last trading session down -0.10 at 18.60 with 530,493 shares trading hands.