Sec Form 4 Filing - Weiss Charles S @ Breitburn Energy Partners LP - 2016-01-01

Insider filing report for Changes in Beneficial Ownership
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
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
OMB APPROVAL
OMB Number: 3235-0287
Expires: November 30, 2011
Estimated average burden hours per response... 0.5
1. Name and Address of Reporting Person
Weiss Charles S
2. Issuer Name and Ticker or Trading Symbol
Breitburn Energy Partners LP [ BBEP]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
515 S. FLOWER STREET, SUITE 4800
3. Date of Earliest Transaction (MM/DD/YY)
01/01/2016
(Street)
LOS ANGELES, CA90071
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 ( 1 ) 01/01/2016 M 3,159 A $ 0 48,986 D
Common Units ( 1 ) 01/01/2016 M 2,868 A $ 0 51,854 D
Common Units ( 1 ) 01/01/2016 M 8,892 A $ 0 60,746 D
Common Units ( 1 ) 10,985 I Family Trust ( 2 )
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 F orm of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Phantom Units ( 3 ) 01/01/2016 M 3,159 ( 4 ) ( 4 ) Common Units ( 1 ) 3,159 $ 0 0 D
Restricted Phantom Units ( 3 ) 01/01/2016 M 2,868 ( 5 ) ( 5 ) Common Units ( 1 ) 2,868 $ 0 2,868 D
Restricted Phantom Units ( 3 ) 01/01/2016 M 8,892 ( 6 ) ( 6 ) Common Units ( 1 ) 8,892 $ 0 17,785 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Weiss Charles S
515 S. FLOWER STREET
SUITE 4800
LOS ANGELES, CA90071
X
Signatures
/s/ Roberta E. Kass, Attorney-in-Fact 01/04/2016
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Common Units representing limited partner interests ("common units").
( 2 )The reported common units shown as indirectly owned are owned directly by WFI, LLC, which is wholly owned by Mr. Weiss and his family. Mr. Weiss has the power and authority to dispose of the common units , and accordingly, may be deemed to be the beneficial owner of such common units.
( 3 )Each Restricted Phantom Unit ("RPU") is the economic equivalent of one common unit which includes a distribution equivalent right that entitles the holder to cash distributions at the same rate payable to common unitholders.
( 4 )The RPUs that vested on January 1, 2016, were settled for an equal number of common units.
( 5 )The RPUs that vested on January 1, 2016, were settled for an equal number of common units. On January 1, 2017, the remaining RPUs will be settled for an equal number of common units.
( 6 )The RPUs that vested on January 1, 2016, were settled for an equal number of common units. On each of January 1, 2017, and January 1, 2018, one-half of the remaining RPUs will be settled for an equal number of common units.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.