Energy Transfer 2015 Annual Report Download - page 144

Table of Contents
• at a rate of 60% in December 2016 and 40% in December 2018 for awards granted in December 2013;
• at a rate of 60% in December 2015 and 40% in December 2017 for awards granted in January 2013;
• ratably in December of each year through 2017 for awards granted in December 2012; and
• ratably in December of each year through 2016 for awards granted in December 2011;
Sunoco Logistics common unit awards outstanding to Messrs. Long, McCrea, Mason and Hennigan vest as follows:
• at a rate of 60% in December 2016 and 40% in December 2018 for awards granted in January 2014 and awards granted in December 2013;
• at a rate of 60% in December 2017 and 40% in December 2019 for awards granted in December 2014;
• at a rate of 60% in December 2018 and 40% in December 2020 for awards granted in December 2015; and
• ratable in December of each year through 2017 for awards granted in January 2013 and December 2012.
Sunoco LP common unit awards outstanding to Messrs. Long, Ramsey and Mason vest as follows:
• at a rate of 60% in December 2017 and 40% in December 2019 for awards granted in November 2014 and January 2015; and
• at a rate of 60% in December 2018 and 40% in December 2020 for awards granted in December 2015
(2) Sunoco Logistics unit amounts reflect the two-for-one split of Sunoco Logistics common units in June 2014.
(3) Market value was computed as the number of unvested awards as of December 31, 2015 multiplied by the closing price of our Common Units or Sunoco
Logistics common units, accordingly, on December 31, 2015.
(4) Effective April 30, 2015, Mr. Salinas resigned from his position with our General Partner. The Compensation Committee accelerated the vesting of
61,841 ETP restricted unit awards and 32,660 Sunoco Logistics restricted unit awards, with vesting values of $3,505,828 and $1,347,358, respectively,
upon the termination of Mr. Salinas in May 2015. The realized value of this vesting has also been included as other compensation in the “Summary
Compensation Table.”
(5) Upon the April 30, 2015 Regency Merger, each outstanding unvested Regency unit award converted into 0.4124 ETP unit awards, maintaining the same
terms as the original Regency award terms, which were similar to those of ETP. These outstanding unit awards represent Regency awards that converted
to ETP awards.
Option Exercises and Units Vested Table
Unit Awards
Name
Number of Units Acquired on Vesting(1)
(2)
(#)
Value Realized on Vesting(1)
($)
ETP Unit Awards:
Kelcy L. Warren
—
$ —
Thomas E. Long
8,042
271,739
Martin Salinas, Jr. (3)
61,841
3,505,828
Matthew S. Ramsey (4)
—
—
Marshall S. (Mackie) McCrea
107,200
3,986,554
Thomas P. Mason
30,000
1,115,640
Michael J. Hennigan
—
—
Sunoco Logistics Unit Awards:
Martin Salinas, Jr. (3)
32,600
1,347,358
Marshall S. (Mackie) McCrea
6,666
171,849
Michael J. Hennigan
52,000
1,340,560
(1) Amounts presented represent the number of unit awards vested during 2015 and the value realized upon vesting of these awards, which is calculated as
the number of units vested multiplied by the closing price of our Common Units or Sunoco Logistics common units, accordingly, upon the vesting date.
(2) Sunoco Logistics unit amounts reflect the two-for-one split of Sunoco Logistics common units in June 2014.
138