XNAS:EXLP Exterran Partners, L.P. Insider Activity 4 Filing - 3/2/2012

Effective Date 3/2/2012

EXLP Fair Value Estimate
Premium
EXLP Consider Buying
Premium
EXLP Consider Selling
Premium
EXLP Fair Value Uncertainty
Premium
EXLP Economic Moat
Premium
EXLP Stewardship
Premium
 
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 OF SECURITIES

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: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
SCHLANGER DANIEL K
  2. Issuer Name and Ticker or Trading Symbol
EXTERRAN PARTNERS, L.P. [EXLP]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr Vice President
(Last)
(First)
(Middle)
16666 NORTHCHASE DRIVE
3. Date of Earliest Transaction (Month/Day/Year)
03/02/2012
(Street)

HOUSTON, TX 77060
4. If Amendment, Date Original Filed (Month/Day/Year)
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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 03/04/2012   M   2,868(1) A $ 0 15,193 D  
Common Units 03/04/2012   F   760(2) D $23.7 14,433 D  
Common Units 03/06/2012   S   100 D $23.2702 14,333 D  
Common Units 03/06/2012   S   900 D $23.271 13,433 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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 control number. SEC 1474 (9-02)

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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)
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
Phantom Units with tandem DERs (1) 03/04/2012   M     673   (1)   (1) Common Units 673 $ 0 1,345 D  
Phantom Units with tandem DERs (1) 03/04/2012   M     1,430   (1)   (1) Common Units 1,430 $ 0 0 D  
Phantom Units with tandem DERs (1) 03/04/2012   M     765   (1)   (1) Common Units 765 $ 0 765 D  
Phantom Units with tandem DERs (3) 03/02/2012   A   3,376     (3)   (3) Common Units 3,376 $ 0 3,376 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SCHLANGER DANIEL K
16666 NORTHCHASE DRIVE
HOUSTON, TX 77060
  X     Sr Vice President  

Signatures

 Susan Miller, Attorney-in-fact   03/06/2012
** Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) This transaction represents the vesting of one-third of the phantom units with tandem Distribution Equivalent Rights (DERs) granted to the reporting person under the Exterran Partners, L.P. Long-Term Incentive Plan (EXLP LTIP). Each phantom unit vested in the form of a common unit. The vested DERs were paid in cash pursuant to the award agreement. Pursuant to applicable SEC reporting requirements, the settlement of the phantom units in exchange for common units of EXLP is reported on this Form 4 as a disposition of the phantom units being settled and a simultaneous acquisition of the underlying common units.
(2) Issuer withheld the maximum allowable units to satisfy the tax withholding obligations associated with the vesting of phantom units.
(3) This award represents a grant of phantom units with tandem Distribution Equivalent Rights (DERs) under the Exterran Partners, L.P. Long-Term Incentive Plan (EXLP LTIP) which vests over a three-year period at the rate of one-third per year. The award is payable in cash or common units at the discretion of the Company and vested DERs are payable in cash. Each phantom unit is the economic equivalent of an EXLP common unit. Vesting is subject to acceleration due to a qualifying change of control. Any unvested portion of this award will be forfeited upon termination of service or employment, unless the termination is due to death or disability.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

XNAS:EXLP Exterran Partners LP Insider Activity 4 Filling

Exterran Partners LP XNAS:EXLP Stock - Get Insider Activity SEC Filing of Exterran Partners LP XNAS:EXLP stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

Content Partners
XNAS:EXLP Exterran Partners, L.P. Insider Activity 4 Filing - 3/2/2012
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Title |  Date |  Author |  Collection |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity

Previous: XNAS:EXLP Exterran Partners, L.P. Insider Activity 4 Filing - 3/2/2012  |  Next: XNAS:EXLP Exterran Partners, L.P. Insider Activity 4 Filing - 3/2/2012