Form 4: Icahn Enterprises L.P.: Carl Icahn Receives Payment-in-Kind Dividend, Increasing Indirect Ownership

Carl Icahn reports receiving 21,962,413 Depositary Units of Icahn Enterprises L.P. as a payment-in-kind dividend, increasing his indirect beneficial ownership.

Summary

• Carl Icahn, Chairman of the Board of Icahn Enterprises L.P., reported a transaction on April 16, 2025, where he received 21,962,413 Depositary Units as a payment-in-kind dividend.
• The dividend was received on 450,788,170 Depositary Units owned on the dividend record date.
• The price per unit foregone in exchange for the dividend was $7.9861.
• Following the transaction, Icahn's indirect beneficial ownership increased to 472,750,583 Depositary Units.
• These units are held indirectly through various entities including CCI Onshore LLC, Gascon Partners, High Coast Limited Partnership, Highcrest Investors LLC, and Thornwood Associates Limited Partnership.
• Icahn disclaims beneficial ownership of the units held by these entities except to the extent of his pecuniary interest therein.
• Mr. Icahn may be deemed to indirectly beneficially own the 12,008 Depository Units owned by Gail Golden, his wife, which are not included in the total reported in column 5.
• Mr. Icahn disclaims beneficial ownership of such Depositary Units for all purposes.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing detailing a dividend distribution. It's neutral in tone and reflects a routine corporate action.

Positives

• The receipt of a payment-in-kind dividend suggests Icahn Enterprises L.P. is distributing value to its unitholders.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, specifically due to a dividend distribution. It's common for publicly traded partnerships to issue units as dividends.

Stakeholder Impact

• The payment-in-kind dividend provides existing unitholders with additional units, potentially diluting the value of each unit slightly, but also providing them with additional assets.

Key Dates

Keywords

Icahn Enterprises, IEP, Carl Icahn, Depositary Units, Payment-in-Kind Dividend, Beneficial Ownership, SEC Form 4