Form 4: Suburban Propane Executive Reports Share Transactions
SEC Form 4 Filing
A Suburban Propane executive, Douglas Brinkworth, reported the acquisition and disposal of common units and phantom units on November 15, 2024.
Summary
- Douglas Brinkworth, an SVP at Suburban Propane Partners L.P., reported several transactions involving the company's common units and phantom units on November 15, 2024.
- These transactions included the disposal of 15,539 common units to cover tax liabilities at a price of $17.77 per unit.
- He also acquired 15,334 common units through the vesting of phantom units at $17.77 per unit, and then disposed of these same 15,334 units.
- Additionally, 24,206 common units were acquired at $0.00 per unit.
- The executive also acquired 15,334 phantom units and 24,206 phantom units, both at $0.00 per unit.
- Following these transactions, Brinkworth directly owns 167,326 common units and 48,355 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 executive compensation practices.
Industry Context
This filing is a routine disclosure of insider transactions, which is a common practice 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.
- The transactions reported are typical for executives who receive stock-based compensation, such as restricted stock units and phantom units.
- The vesting and tax withholding mechanisms are common features of equity compensation plans.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
- The transactions do not have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 11/15/2024 | Date of the reported transactions involving common and phantom units. |
| 11/18/2024 | Date the form was signed by power of attorney. |
Keywords
Suburban Propane, common units, phantom units, insider trading, executive compensation, SEC Form 4, Douglas Brinkworth
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.