Sunoco 2015 Annual Report Download - page 137

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135
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED SECURITYHOLDER MATTERS
Securities Authorized for Issuance Under Equity Compensation Plans
The following table provides information, as of December 31, 2015, regarding our common units that may be issued upon
conversion (assuming a one-for-one conversion) of outstanding restricted units granted under the LTIP to executive officers,
directors, and other key employees. The LTIP did not require approval by our limited partners at the time of its adoption in
2002 because the Board adopted the LTIP prior to our initial public offering; however, on December 1, 2015, the limited
partners approved the amended and restated LTIP to, among other things, increase in the maximum number of common units
reserved and available for delivery with respect to awards under the LTIP by 10 million common units.
The amounts in column (a) of this table reflect only restricted units that have been granted under the LTIP since its
inception. No other types of awards have been granted under the LTIP. Each restricted unit shown in the table represents a right
to receive (upon vesting and payout) a specified number of our common units. Vesting and payout is conditioned upon
achievement of certain length of service goals with us and our affiliates. No value is shown in column (b) of the table, since the
restricted units do not have an exercise, or "strike," price. For illustrative purposes, a target payout (i.e., a 100 percent ratio) has
been assumed for vesting and payout of all awards. For more information about the LTIP, refer to "Item 11-Executive
Compensation."
EQUITY COMPENSATION PLAN INFORMATION
Plan Category
(a)
Number of securities to
be issued upon exercise
of outstanding options,
warrants and rights
(b)
Weighted average
exercise price of
outstanding options,
warrants and rights
(c)
Number of securities remaining
available for future issuance
under equity compensation
plans, excluding securities
reflected in column (a)
Equity compensation plans approved by
security holders 2,537,719 — 9,654,117
Equity compensation plans not
approved by security holders — — —
Total 2,537,719 — 9,654,117