Form 4: Suburban Propane Director Logan Jr. Acquires Shares and Phantom Units

Director Harold R. Logan Jr. of Suburban Propane Partners, L.P. acquired 13,112 common units and 7,060 phantom units on November 15, 2024.

Summary

• Harold R. Logan Jr., 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 phantom units also have a price of $0.00.
• Following these transactions, Mr. Logan directly owns 50,127 common units.
• The phantom units vest over three years, with one-third vesting on each anniversary of the grant date, contingent on continuous service.
• Upon vesting, the phantom units convert to cash based on the average of the highest and lowest trading prices of Suburban Propane's common units on the vesting date.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction by a company director, which is generally viewed neutrally to slightly positive as it indicates confidence. The lack of any negative information keeps the sentiment from being lower.

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 the next three years, converting to cash based on the trading price of the common units at the time of vesting.

Industry Context

This is a standard SEC Form 4 filing, which is common for publicly traded companies when insiders make transactions in their company's securities. It provides transparency into the trading activities of company directors.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• The vesting schedule of the phantom units is a common practice for incentivizing long-term service of directors and employees.
• The conversion of phantom units to cash based on the average trading price is a typical method for valuing these types of awards.

Stakeholder Impact

• The acquisition of shares by a director may be viewed positively by shareholders, indicating confidence in the company's prospects.

Key Dates

Keywords

Suburban Propane Partners, Director, Harold R. Logan Jr., Common Units, Phantom Units, Share Acquisition, Form 4, Insider Trading