Form 4: DKL Executive Sells 250 Common Units via 10b5-1 Plan

Delek Logistics Partners Executive Vice President Reuven Spiegel sold 250 common units for $45.86 each under a pre-arranged 10b5-1 plan.

Summary

• Reuven Spiegel, Executive Vice President and Director of Delek Logistics Partners, LP (DKL), reported a transaction.
• On December 4, 2025, Spiegel disposed of 250 common units.
• The sale was executed at a price of $45.86 per common unit.
• This transaction was conducted pursuant to a Rule 10b5-1 plan, which was adopted on March 6, 2025.
• Following this transaction, Reuven Spiegel directly beneficially owns 24,212 common units of DKL.

Sentiment

Score: 5

Explanation: A routine insider sale executed under a pre-arranged 10b5-1 plan, which typically indicates a planned diversification or liquidity event rather than a reaction to new material information. Therefore, the sentiment is neutral.

Negatives

• An insider sale, even under a 10b5-1 plan, represents a reduction in direct insider ownership.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This is a routine insider transaction report and does not provide information directly related to broader industry trends or competitor activities. It reflects an individual executive's personal financial planning.

Stakeholder Impact

• Shareholders: May observe a minor reduction in insider ownership, though the pre-arranged nature of the 10b5-1 plan typically mitigates concerns about the timing or motivation of the sale.

Key Dates

Recommendation

The sale of 250 common units by an executive, while a reduction in insider ownership, was executed under a pre-arranged 10b5-1 plan. Such plans are often for personal financial planning and do not typically signal a change in the company's fundamental outlook or warrant an immediate change in investment strategy. The transaction volume is also relatively small.

Keywords

Delek Logistics Partners, DKL, Reuven Spiegel, Insider Transaction, Form 4, Common Units, 10b5-1 Plan, Executive Sale