Form 4: Ferrellgas Director Edward Newberry Granted 12,729 Phantom Units

Ferrellgas Partners L.P. Director Edward Newberry was granted 12,729 phantom units, which vest on September 25, 2025, as part of his compensation.

Summary

• Edward Newberry, a Director of Ferrellgas Partners L.P., was granted 12,729 phantom units on July 1, 2025.
• Each phantom unit represents the economic equivalent of one Class A Unit of Ferrellgas Partners L.P.
• The phantom units accrue dividend equivalent rights.
• The granted units are scheduled to vest on September 25, 2025.
• Upon vesting, each phantom unit represents the right to receive a cash payment.
• The cash payment will be triggered by the first to occur of: termination of service from the Board of Directors, a change of control, or the third anniversary of the July 1, 2025 grant date.
• The payment amount will be equal to the average closing price of a Class A Unit for the 10 trading days immediately preceding the triggering event.

Sentiment

Score: 7

Explanation: The grant of phantom units to a director is a positive step in aligning management interests with shareholder value, reflecting a standard and generally well-regarded compensation practice. It is not a major strategic announcement but indicates ongoing governance and compensation activities.

Positives

• The grant of phantom units aligns the director's financial interests with the long-term performance and shareholder value of Ferrellgas Partners L.P.
• The phantom units accrue dividend equivalent rights, providing an additional incentive for the director.

Negatives

• The compensation is in the form of phantom units, meaning there is no immediate equity transfer or cash payment to the director upon grant.
• The ultimate value of the compensation is contingent on the future market price of Class A Units, introducing market risk for the recipient.

Risks

• The value of the phantom units is directly tied to the future market price of Ferrellgas Partners L.P.'s Class A Units, exposing the compensation to market fluctuations.
• The cash payment for vested phantom units is contingent on specific future events (termination of service, change of control, or the third anniversary of the grant date), which may not occur as anticipated or may occur at an unfavorable time for valuation.

Future Outlook

The future value of the phantom units is directly dependent on the market price of Ferrellgas Partners L.P.'s Class A Units at the time of vesting and the subsequent payment trigger. The vesting on September 25, 2025, and potential payment triggers (termination of service, change of control, or July 1, 2028) outline future events related to this compensation.

Industry Context

This Form 4 filing details a standard compensation grant to a director, which is a common practice across industries to align executive and board member interests with shareholder returns. It does not provide information on broader industry trends or competitive positioning.

Comparison to Industry Standards

• NA

Related Party Transactions

• Grant of 12,729 phantom units to Edward Newberry, a Director of Ferrellgas Partners L.P., as part of his compensation package.

Stakeholder Impact

• Shareholders: The grant aligns the director's financial incentives with the performance of the company's Class A Units, potentially encouraging decisions that benefit shareholder value.
• Management/Director: Edward Newberry receives future compensation tied to the company's performance, providing a long-term incentive.

Next Steps

• Vesting of the 12,729 phantom units on September 25, 2025.
• Potential cash payment to Edward Newberry upon the occurrence of a triggering event (termination of service, change of control, or the third anniversary of the grant date).

Key Dates

Keywords

Ferrellgas Partners, Edward Newberry, Phantom Units, Director Compensation, SEC Form 4, Equity Grant, Class A Units, Executive Compensation, Insider Transaction