KNOT Offshore director reports indirect unit holdings
KNOT Offshore Partners LP director and 10% owner Trygve Seglem filed an initial ownership report showing indirect holdings of the partnership’s units through affiliated entities.
Rhea-AI Filing Summary
KNOT Offshore Partners LP director and 10% owner Trygve Seglem filed an initial ownership report showing indirect holdings of the partnership’s units through affiliated entities. The filing lists 9,661,255 common units and 208,333 Series A preferred units held indirectly by Knutsen NYK Offshore Tankers AS, plus 252,405 Class B units. It also notes 90,368 common units held indirectly by KNOT Offshore Partners GP LLC, which is wholly owned by Knutsen NYK Offshore Tankers AS. The report explains the joint-venture and family ownership chain and states that Seglem disclaims beneficial ownership of the securities except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Seglem Trygve
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Units | -- | -- | -- |
| holding | Common Units | -- | -- | -- |
| holding | Series A Preferred Units | -- | -- | -- |
| holding | Class B Units | -- | -- | -- |
Holdings After Transaction:
Common Units — 9,661,255 shares (Indirect, By Knutsen NYK Offshore Tankers AS);
Common Units — 90,368 shares (Indirect, By KNOT Offshore Partners GP LLC);
Series A Preferred Units — 208,333 shares (Indirect, By Knutsen NYK Offshore Tankers AS);
Class B Units — 252,405 shares (Indirect, By Knutsen NYK Offshore Tankers AS)
Footnotes (1)
- F1. Knutsen NYK Offshore Tanks AS ("KNOT") owns 100% of KNOT Offshore Partners GP LLC (the "General Partner"), the general partner of KNOT Offshore Partners LP (the "Issuer"). The General Partner owns 640,278 general partner units in the Issuer, representing the general partner interest in the Issuer. KNOT is a joint venture between NYK Holding (Europe) B.V. and TS Shipping Invest AS ("TSSI"), each of which owns a 50% interest and has the power to appoint half of the members of the board of directors of KNOT. TSSI is a wholly owned subsidiary of Seglem Holding AS, of which 70% is owned by Trygve Seglem with the remainder owned by members of his immediate family. The Reporting Person disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission or beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
Key Figures
Indirect common units (KNOT AS): 9,661,255 common units
Indirect common units (GP LLC): 90,368 common units
Series A preferred units: 208,333 units
+2 more
5 metrics
Indirect common units (KNOT AS)
9,661,255 common units
Indirectly held by Knutsen NYK Offshore Tankers AS
Indirect common units (GP LLC)
90,368 common units
Indirectly held by KNOT Offshore Partners GP LLC
Series A preferred units
208,333 units
Indirectly held by Knutsen NYK Offshore Tankers AS
Class B units
252,405 units
Indirectly held by Knutsen NYK Offshore Tankers AS
Unknown transaction entries
4 entries
All classified as holdings with unknown transaction codes
Key Terms
general partner units, beneficial ownership, pecuniary interest, Section 16
4 terms
general partner units financial
"The General Partner owns 640,278 general partner units in the Issuer, representing the general partner interest"
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of the securities except to the extent of his pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein"
Section 16 regulatory
"shall not be deemed an admission or beneficial ownership of all of the reported securities for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the KNOP Form 3 filing by Trygve Seglem report?
The Form 3 reports Seglem’s indirect ownership in KNOT Offshore Partners LP units. It lists common, Series A preferred, and Class B units held through Knutsen NYK Offshore Tankers AS and KNOT Offshore Partners GP LLC, rather than direct personal holdings.
How many KNOP common units are reported as indirectly owned in this Form 3?
The filing lists 9,661,255 common units indirectly held by Knutsen NYK Offshore Tankers AS. It also shows 90,368 common units held indirectly by KNOT Offshore Partners GP LLC, giving investors a view of significant affiliated ownership stakes.
What preferred and Class B units of KNOP are disclosed in this Form 3?
The Form 3 shows 208,333 Series A preferred units and 252,405 Class B units. Both positions are reported as indirectly owned by Knutsen NYK Offshore Tankers AS, reflecting additional layers of economic interest beyond common units.
How is Trygve Seglem connected to Knutsen NYK Offshore Tankers AS and KNOP’s general partner?
Knutsen NYK Offshore Tankers AS owns 100% of KNOT Offshore Partners GP LLC, KNOP’s general partner. Seglem indirectly owns a majority of Seglem Holding AS, which controls TS Shipping Invest AS, a 50% owner of Knutsen NYK Offshore Tankers AS.
Does Trygve Seglem claim full beneficial ownership of the KNOP units reported?
No, the filing states that Seglem disclaims beneficial ownership except to the extent of his pecuniary interest. This means inclusion of the securities does not represent an admission of full beneficial ownership for Section 16 purposes.
What role does KNOT Offshore Partners GP LLC play in KNOP’s ownership structure?
KNOT Offshore Partners GP LLC is the general partner of KNOT Offshore Partners LP. It owns 640,278 general partner units, and the Form 3 reports 90,368 common units indirectly through this general partner entity.
AI-generated analysis. How Rhea-AI works. Not financial advice.
