Form 4: Suburban Propane Partners LP Executive Reports Share Transactions

Suburban Propane Partners LP's Chief Operating Officer, Steven C. Boyd, engaged in multiple transactions involving common units and phantom units on November 15, 2024.

Summary

• Steven C. Boyd, Chief Operating Officer of Suburban Propane Partners LP, reported several transactions on November 15, 2024.
• These transactions included the disposition of 15,980 common units to cover tax liabilities related to vesting restricted units at a price of $17.77 per unit.
• Additionally, 16,314 common units were acquired through the vesting of phantom units at a price of $17.77 per unit.
• These 16,314 common units were then disposed of, also at $17.77 per unit.
• The transactions resulted in a net change in direct ownership of common units, with the reporting person holding 198,596 common units after the transactions.
• The reporting person also holds 26,108 phantom units, which vest over three years.

Sentiment

Score: 5

Explanation: The document is a routine filing of insider transactions, which is neither positive nor negative. It reflects standard executive compensation practices.

Industry Context

This filing is a routine disclosure of insider transactions, which is common in publicly traded partnerships like Suburban Propane Partners LP. These transactions are often related to executive compensation and do not necessarily indicate a change in the company's outlook.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and partnerships in the US, including those in the energy sector like Suburban Propane Partners LP.
• Similar filings are made by executives at companies such as Energy Transfer LP (ET) and Enterprise Products Partners L.P. (EPD), which are also in the energy infrastructure space.
• The transactions reported are typical for vesting schedules of restricted stock and phantom units, which are common forms of executive compensation across the industry.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are related to executive compensation and do not represent a significant change in ownership.

Key Dates

Keywords

Suburban Propane Partners LP, common units, phantom units, insider trading, Form 4, executive compensation, Steven C. Boyd, vesting, tax liability