UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF 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 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
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. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Bandera Partners LLC 50 BROAD STREET, SUITE 1820 NEW YORK, NY 10004 |
 |  X |  |  |
Bylinsky Gregory 50 BROAD STREET, SUITE 1820 NEW YORK, NY 10004 |
 |  X |  |  |
Gramm Jefferson 50 BROAD STREET, SUITE 1820 NEW YORK, NY 10004 |
 |  X |  |  |
Shpiz Andrew 50 BROAD STREET, SUITE 1820 NEW YORK, NY 10004 |
 |  X |  |  |
/s/ Gregory Bylinsky, Managing Director, On behalf of Bandera Partners LLC | 05/13/2010 | |
**Signature of Reporting Person | Date | |
/s/ Gregory Bylinsky | 05/13/2010 | |
**Signature of Reporting Person | Date | |
/s/ Jefferson Gramm | 05/13/2010 | |
**Signature of Reporting Person | Date | |
/s/ Andrew Shpiz | 05/13/2010 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(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) | The Common Units reported herein as indirectly beneficially owned by Bandera Partners LLC, Gregory Bylinsky, Jefferson Gramm and Andrew Shpiz (the "Master Fund Shares") are directly owned by Bandera Master Fund L.P., a Cayman Islands exempted limited partnership ("Bandera Master Fund"). Bandera Partners LLC is the investment manager of Bandera Master Fund and may be deemed to have beneficial ownership of the Master Fund Shares by virtue of the sole and exclusive authority granted to Bandera Partners LLC by Bandera Master Fund to vote and dispose of the Master Fund Shares. Mr. Bylinsky, Mr. Gramm and Mr. Shpiz may be deemed to have beneficial ownership of the Master Fund Shares in their capacities as Managing Partners, Managing Directors and Portfolio Managers of Bandera Partners LLC. |
(2) | Indirect beneficial ownership of the Master Fund Shares has not been allocated to the Reporting Persons on a proportional basis. Each of Bandera Partners LLC, Mr. Bylinsky, Mr. Gramm and Mr. Shpiz disclaims beneficial ownership of the Master Fund Shares except to the extent of its or his pecuniary interest therein pursuant to Rule 16a-1(a)(2). |
(3) | These securities are owned solely by Mr. Shpiz. |
 Remarks: This Form 3 is being filed because Star Gas Partners, L.P. reported in its Quarterly Report on Form 10-Q filed with the  Securities and Exchange Commission on May 10, 2010 that the number of Common Units issued and outstanding as of April 30,  2010 decreased to 69,806,896 Common Units.  As a result, the Reporting Persons may be deemed to have beneficial ownership of  more than ten percent of the issued and outstanding Common Units of Star Gas Partners, L.P. |