Sanchez Midstream Partners LP (FRA:SHY1) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Equity Awards

On April 5, 2018, the board of directors of the general partner (the “General Partner”) of Sanchez Midstream Partners LP (the “Partnership”) approved the grant of restricted units to the Partnership’s Long-Term Incentive Plan (the “Plan”) to certain executive officers of the General Partner as indicated in the following table:

The grants of the restricted units were made to Award Agreements Relating to Restricted Units (the “Award Agreements”). The restricted units vest on the first anniversary date or the first three anniversaries of their respective grant dates, as applicable. Except in connection with a change in control (as defined in the Plan), participant Disability (as defined in the Plan), or Involuntary Termination (as defined in the Award Agreements) or in the discretion of the board of directors of the General Partner, any unvested restricted units will be forfeited upon such time as the grantee is no longer an officer, employee, consultant or director of the Partnership, the General Partner, any of their affiliates or any other person performing bona fide services for the Partnership and its subsidiaries. Except with respect to the first quarter of 2018, distributions on the restricted units will be paid in cash to the grantee at the same time as distributions are paid to all common unitholders of the Partnership.