Form 4: Cheniere Energy Partners Director Richard Oliver G III Reports Changes in Beneficial Ownership

Director Richard Oliver G III reports transactions involving Cheniere Energy Partners, L.P. units and phantom units, including vesting of previously granted phantom units.

Summary

• On September 7, 2024, Richard Oliver G III, a director of Cheniere Energy Partners, L.P., reported changes in beneficial ownership.
• The transactions involved the vesting of phantom units previously granted to Richard Oliver G III.
• Specifically, 25% of phantom unit grants from 2020, 2021, 2022 and 2023 vested on September 7, 2024.
• Each vesting event involved 750 phantom units, payable one-half in cash and one-half in common units.
• Richard Oliver G III also acquired 3,000 phantom units on September 7, 2024, payable one-half in cash and one-half in common units, which vest 25% annually over four years.
• Richard Oliver G III disposed of 375 units at $48.53 on each of the vesting dates.
• Following these transactions, Richard Oliver G III directly owns between 16,125 and 17,625 units representing limited partner interests and 3,000 phantom units.

Sentiment

Score: 7

Explanation: The document reflects routine executive compensation activity, which is generally viewed neutrally. The vesting of phantom units and new grants suggest continued alignment of management with unitholder interests, contributing to a slightly positive sentiment.

Positives

• The vesting of phantom units indicates continued alignment of the director's interests with those of the company and its unitholders.
• The acquisition of new phantom units suggests ongoing participation in the company's long-term incentive plans.

Future Outlook

The phantom units granted on 09/07/2024 vest twenty-five percent on each of the first, second, third and fourth anniversaries of the grant date.

Industry Context

This filing is a routine disclosure related to executive compensation and ownership changes, common in publicly traded companies. It provides transparency to investors regarding the alignment of management's interests with those of the unitholders.

Comparison to Industry Standards

• Vesting schedules for equity compensation, such as the four-year vesting period for the phantom units, are standard practice among publicly traded companies, including those in the energy sector.
• Companies like Kinder Morgan and Enterprise Products Partners also utilize equity-based compensation to align management incentives with long-term unitholder value.

Stakeholder Impact

• The vesting of phantom units and subsequent acquisition of common units could have a minor impact on unitholder equity.
• The transactions provide transparency to unitholders regarding executive compensation.

Key Dates