Sec Form 4 Filing - Chao James @ Westlake Chemical Partners LP - 2022-05-31

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
Chao James
2. Issuer Name and Ticker or Trading Symbol
Westlake Chemical Partners LP [ WLKP]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chairman
(Last) (First) (Middle)
2801 POST OAK BOULEVARD, SUITE 600
3. Date of Earliest Transaction (MM/DD/YY)
05/31/2022
(Street)
HOUSTON, TX77056
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 05/31/2022 S 29,092 D $ 26.867( 1 ) 25,908 D
Common Units 05/31/2022 S 2,000 D $ 27.54( 2 ) 23,908 D
Common Units 8,473 I by Trust
Common Units 15,524,099 I TTWF LP & TTWF GP LLC( 3 )( 4 )
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 Ownership
(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
Chao James
2801 POST OAK BOULEVARD, SUITE 600
HOUSTON, TX77056
X X Chairman
Signatures
James Chao by J. Feng POA 06/01/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The price reported in Column 4 is a weighted average price. These common units were sold in multiple transactions ranging from $26.50 to $27.48, inclusive. The reporting person undertakes to provide to Westlake Chemical Partners LP ("WLKP"), any security holder of WLKP or the staff of the SEC, upon request, full information regarding the number of common units sold at each separate price within the range set forth in this footnote.
( 2 )The price reported in Column 4 is a weighted average price. These common units were sold in multiple transactions ranging from $27.51 to $27.65, inclusive. The reporting person undertakes to provide WLKP, any security holder of WLKP or the staff of the SEC, upon request, full information regarding the number of common units sold at each separate price within the range set forth in this footnote.
( 3 )WPT LLC ("WPT") owns 14,122,230 common units ("Common Units") representing limited partner interests in the Issuer. Westlake Corporation ("Westlake") owns 100% of each of Westlake Olefins LLC ("Olefins"), Westlake Vinyl Corporation ("Vinyl") and Westlake Longview Corporation ("Longview"). Olefins owns 100% of Westlake Chemical Investments, lnc., which owns 84.25% of Westlake Polymers LLC ("Polymers"). Vinyl owns 100% of Westlake Vinyls, Inc., which owns 12.95% Polymers. Longview owns 2.80% of Polymers. Polymers owns 100% of WPT. The reporting person may be deemed to indirectly own the Common Units through his ownership interest in TTWF LP, a Delaware limited partnership through which the reporting person indirectly holds 93,405,554 shares of Westlake.The amount also includes 1,401,869 common units held by TTWFGP LLC, which is the general partner of TTWF LP. The reporting person may be deemed to indirectly own these Common Units.
( 4 )Two trusts for the benefit of members of the Chao family, including the reporting person, are the managers of TTWFGP LLC, a Delaware limited liability company that is the general partner of TTWF LP. The limited partners of TTWF LP are five trusts, principally for the benefit of members of the Chao family, including the reporting person, and two corporations owned, indirectly or directly, by certain of these trusts and by other entities owned by members of the Chao family, including the reporting person. The reporting person shares investment and voting power with respect to the common units beneficially owned by TTWF LP. The reporting person disclaims beneficial ownership of the Common Units except to the extent of his pecuniary interest therein.

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