Sec Form 4 Filing - Cubbage Vincent T. @ Arc Logistics Partners LP - 2016-12-28

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Cubbage Vincent T.
2. Issuer Name and Ticker or Trading Symbol
Arc Logistics Partners LP [ ARCX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
See Remarks
(Last) (First) (Middle)
725 FIFTH AVENUE, 19TH FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
12/28/2016
(Street)
NEW YORK, NY10022
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common units representing limited partner interests 12/28/2016 S( 1 ) 27,894 D $ 14.5 ( 2 ) 53,833 D
Common units representing limited partner interests 11/18/2016 G V 16,673 ( 3 ) D $ 0 30,516 ( 4 ) I ( 4 ) By LightfootCapital Partners,LP
Common units representing limited partner interests 12/28/2016 P( 1 ) 164 ( 5 ) A $ 14.5 ( 2 ) 30,680 ( 6 ) I ( 6 ) By Lightfoot Capital Partners, LP
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Owne rship
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Cubbage Vincent T.
725 FIFTH AVENUE, 19TH FLOOR
NEW YORK, NY10022
X See Remarks
Signatures
/s/ Stephen J. Pilatzke, as Attorney-in-Fact for Vincent T. Cubbage 12/30/2016
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Represents Mr. Cubbage's sale of common units representing limited partner interests in the Issuer ("Common Units") to Lightfoot Capital Partners, LP ("LCP LP"), a 10% owner of the Issuer, which was intended to cover the Reporting Person's tax liability resulting from the settlement on November 17, 2016 of phantom units subject to performance-based vesting that were awarded to the Reporting Person under the Issuer's Long-Term Incentive Plan.
( 2 )The Reporting Person sold the Common Units to LCP LP at a price equal to the closing price of the Issuer's Common Units on November 17, 2016.
( 3 )The Reporting Person may be deemed to have indirectly owned, as of November 17, 2016, 47,189 of the Common Units held by LCP LP. As of November 18, 2016, the Reporting Person transferred by gift to a family trust established for estate planning purposes, the sole trustee of which is the spouse of the Reporting Person, a portion of his limited liability company membership interests in Lightfoot Capital Partners GP LLC ("LCP GP"), the general partner of LCP LP, and a portion of his limited partner interests in LCP LP. The interests transferred to the trust represented beneficial ownership of 16,673 of the Common Units owned by LCP LP.
( 4 )Certain members of LCP GP may elect to cause LCP LP to distribute the Common Units held by LCP LP to the partners of LCP LP and to the members of LCP GP. As a member of LCP GP and a partner of LCP LP, Mr. Cubbage may be deemed to indirectly own a portion of the Common Units held by LCP LP.
( 5 )The Reporting Person may be deemed to indirectly own 164 of the 27,894 Common Units acquired by LCP LP.
( 6 )As set out in footnote 4 above, Mr. Cubbage may be deemed to indirectly own a portion of the Common Units held by LCP LP. As of the date of this report, LCP LP owns 5,242,775 Common Units. As a member of LCP GP and a partner of LCP LP, Mr. Cubbage may be deemed to indirectly own 30,680 of these Common Units. Mr. Cubbage disclaims beneficial ownership of the Common Units owned by LCP LP except to the extent of his pecuniary interest therein.

Remarks:
Chief Executive Officer and Chairman

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