Form 4: Suburban Propane Director Jane Swift Acquires Shares and Phantom Units

Director Jane Swift of Suburban Propane Partners, L.P. acquired 13,112 common units and 7,060 phantom units on November 15, 2024.

Summary

• Jane Swift, a director at Suburban Propane Partners, L.P., reported acquiring 13,112 common units and 7,060 phantom units on November 15, 2024.
• The common units were acquired at a price of $0.00, and the director now beneficially owns 44,247 common units.
• The phantom units vest over three years and will be converted to cash based on the average of the highest and lowest trading prices of the Issuer's Common Units on the vesting date.
• The phantom units are subject to continuous employment or service of the reporting person from the grant date through the applicable payment date.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction, but the acquisition of shares by a director is generally viewed positively as it indicates confidence in the company. The sentiment is therefore moderately positive.

Positives

• The acquisition of shares by a director can be seen as a positive sign of confidence in the company's future.

Future Outlook

The phantom units will vest over three years, subject to continuous employment or service of the reporting person.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders reporting changes in their beneficial ownership of company securities. It is a routine part of corporate governance and transparency.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
• The acquisition of shares and phantom units by a director is a common form of compensation and alignment of interests in many companies.
• The vesting schedule of the phantom units is also a typical practice to incentivize long-term commitment from the director.

Stakeholder Impact

• The acquisition of shares by a director may be viewed positively by shareholders, as it aligns the director's interests with those of the company.

Next Steps

• The phantom units will vest over the next three years, subject to the director's continued service.

Key Dates

Keywords

Suburban Propane Partners, Director, Jane Swift, Common Units, Phantom Units, Beneficial Ownership, SEC Form 4, Equity Securities