Form 4: Alliance Resource Partners LP: Executive's Holdings Adjusted Following Retirement Plan Termination
SEC Form 4 Filing
Senior VP and CFO Cary P. Marshall's holdings in Alliance Resource Partners LP were adjusted following the termination of a supplemental executive retirement plan, resulting in a cash settlement for phantom units.
Summary
- Cary P. Marshall, Senior VP and CFO of Alliance Resource Partners LP, had his holdings adjusted due to the termination of the Alliance Coal, LLC Supplemental Executive Retirement Plan.
- The plan's termination resulted in a cash settlement for 61,670 phantom units, which were previously intended to be settled in common units.
- Marshall's total holdings include 984,622 common units held indirectly through a trust and 93,125 common units held indirectly through an LLC.
Sentiment
Score: 7
Explanation: The document is a routine disclosure of an executive's holdings adjustment, which is neither positive nor negative. It is a neutral event from an investment perspective.
Industry Context
This filing is a routine disclosure of changes in beneficial ownership by a company executive, which is common in the energy sector and other publicly traded companies. It reflects adjustments to executive compensation and holdings.
Comparison to Industry Standards
- Executive compensation structures involving phantom units and retirement plans are common across the energy industry.
- Similar filings are regularly made by executives at companies like Peabody Energy (BTU) and Arch Resources (ARCH), reflecting changes in their holdings.
- The settlement of phantom units in cash rather than shares is not unusual, especially upon termination of a plan.
Stakeholder Impact
- The change in holdings has a minimal impact on shareholders as it is a routine adjustment of an executive's compensation.
- The cash settlement of phantom units does not dilute the existing shares.
Key Dates
| Date | Description |
|---|---|
| 11/15/1998 | Date of Cary P. Marshall Revocable Trust. |
| 04/12/2013 | Date of power of attorney for Kenneth Hemm. |
| 12/16/2024 | Date of the transaction and termination of the retirement plan. |
| 12/18/2024 | Date of the filing. |
Keywords
Alliance Resource Partners LP, Cary P. Marshall, executive compensation, phantom units, retirement plan, SEC Form 4, insider trading
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