Form 4: Suburban Propane Executive Reports Changes in Beneficial Ownership

Daniel S. Bloomstein, VP-Controller & Chief Accounting Officer at Suburban Propane Partners, reported multiple transactions involving common units and phantom units on November 15, 2024.

Summary

• Daniel S. Bloomstein, a VP-Controller & Chief Accounting Officer at Suburban Propane Partners, reported several transactions on November 15, 2024.
• These transactions included the disposition of 6,338 common units to cover tax liabilities at a price of $17.77 per unit.
• He also acquired 6,282 common units through the vesting of phantom units at $17.77 per unit, which were then disposed of.
• Additionally, 10,759 common units were acquired at $0.00 per unit.
• The transactions also involved the acquisition of 10,759 phantom units and the vesting of 6,282 phantom units.
• Following these transactions, Mr. Bloomstein beneficially owns 71,935 common units and 20,466 phantom units.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing insider transactions, which is neither positive nor negative in itself. It reflects standard compensation practices.

Industry Context

This filing is a routine disclosure of insider transactions, which is common for publicly traded companies. It provides transparency into the trading activities of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider trading activities.
• The transactions reported are typical for executive compensation plans involving restricted stock units and phantom units, similar to those seen at other publicly traded partnerships like Energy Transfer LP (ET) or Enterprise Products Partners L.P. (EPD).
• The vesting schedules and tax withholding mechanisms are also common practices in executive compensation.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are part of standard executive compensation practices.
• The filing provides transparency to shareholders regarding insider trading activities.

Key Dates

Keywords

Suburban Propane Partners, common units, phantom units, beneficial ownership, insider trading, SEC Form 4, executive compensation