Equity

3 Months Ended

Mar. 31, 2022

We had 9,162,504 common limited partner units held by the public outstanding as of March 31, 2022. Additionally, as of March 31, 2022, Delek Holdings owned an 78.9% limited partner interest in us, consisting of 34,311,278 common limited partner units.

On April 14, 2022, we filed a shelf registration statement with the SEC, which was declared on April 29, 2022, which provides the Partnership the ability to offer up to $200.0 million of our common limited partner units from time to time and through one or more methods of distribution, subject to market conditions and our capital needs.

On December 22, 2021, Delek Holdings issued a press release regarding a program to sell up to 434,590 common limited partner units representing limited partner interests in the Partnership. We will not sell any securities under this program and we will not receive any proceeds from the sale of the securities by Delek Holdings.

Equity Activity

The table below summarizes the changes in the number of limited partner units outstanding from December 31, 2021 through March 31, 2022.


	Common - Public	Common - Delek Holdings	Total
Balance at December 31, 2021	8,774,053	34,696,800	43,470,853
Unit-based compensation awards (1)	2,929	—	2,929
Delek Holdings resale of units	385,522	(385,522)	—
Balance at March 31, 2022	9,162,504	34,311,278	43,473,782

(1) Unit-based compensation awards are presented net of 1,088 units withheld for taxes as of March 31, 2022.

Issuance of Additional Securities

Our Partnership Agreement authorizes us to issue an unlimited number of additional partnership securities for the consideration and on the terms and conditions determined by our general partner without the approval of the unitholders. Costs associated with the issuance of securities are allocated to all unitholders' capital accounts based on their ownership interest at the time of issuance.

Cash Distributions

Our Partnership Agreement sets forth the calculation to be used to determine the amount and priority of available cash distributions that our limited partner unitholders will receive. Our distributions earned with respect to a given period are declared subsequent to quarter end.

The table below summarizes the quarterly distributions related to our quarterly financial results:


Quarter Ended	Total Quarterly Distribution Per Limited Partner Unit		Total Cash Distribution (in thousands)		Date of Distribution	Unitholders Record Date
March 31, 2021	$	0.920	$	39,968	May 14, 2021	May 10, 2021
June 30, 2021	$	0.940	$	40,846	August 11, 2021	August 5, 2021
September 30, 2021	$	0.950	$	41,286	November 10, 2021	November 5, 2021
December 31, 2021	$	0.975	$	42,384	February 8, 2022	February 1, 2022
March 31, 2022	$	0.980	$	42,604	May 12, 2022 (1)	May 5, 2022

(1) Expected date of distribution.