Cheniere Energy Partners (CQP) director adds 3,000 units via phantom awards

Rhea-AI Filing Summary

Director Ellis L. McCain of Cheniere Energy Partners, L.P. reported compensation-related equity activity involving common units and phantom units. On May 29, 2026, McCain exercised previously granted phantom units, acquiring 3,000 common units, split into four transactions of 750 units each.

These phantom units had vested in 25% tranches tied to earlier grants made between 2022 and 2025, with each phantom unit economically equivalent to one common unit. After the transactions, McCain directly holds 20,250 common units and 3,000 phantom units, reflecting ongoing participation in the partnership’s long-term incentive program.

Insider Trade Summary

3,000 shares exercised/converted

Mixed 9 txns

Insider MCCAIN ELLIS L

Role null

Type	Security	Shares	Price	Value
Exercise	PHANTOM UNITS	750	$0.00	--
Exercise	PHANTOM UNITS	750	$0.00	--
Exercise	PHANTOM UNITS	750	$0.00	--
Exercise	PHANTOM UNITS	750	$0.00	--
Grant/Award	PHANTOM UNITS	3,000	$0.00	--
Exercise	Units Representing Limited Partner Interests	750	$0.00	--
Exercise	Units Representing Limited Partner Interests	750	$0.00	--
Exercise	Units Representing Limited Partner Interests	750	$0.00	--
Exercise	Units Representing Limited Partner Interests	750	$0.00	--

Holdings After Transaction: PHANTOM UNITS — 0 shares (Direct, null); Units Representing Limited Partner Interests — 20,250 shares (Direct, null)

Footnotes (1)

1. On 05/29/2022, the Reporting Person was granted 3,000 phantom units payable in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 05/29/2026, the fourth anniversary of the grant date. Each phantom unit was the economic equivalent of one common unit of the Issuer. On 05/29/2023, the Reporting Person was granted 3,000 phantom units payable in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 05/29/2026, the third anniversary of the grant date. Each phantom unit was the economic equivalent of one common unit of the Issuer. On 05/29/2024, the Reporting Person was granted 3,000 phantom units payable in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 05/29/2026, the second anniversary of the grant date. Each phantom unit was the economic equivalent of one common unit of the Issuer. On 05/29/2025, the Reporting Person was granted 3,000 phantom units payable in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 05/29/2026, the first anniversary of the grant date. Each phantom unit was the economic equivalent of one common unit of the Issuer. On 05/29/2026, the Reporting Person was granted 3,000 phantom units payable in common units. Each phantom unit is the economic equivalent of one common unit of the Issuer. The phantom units vest twenty-five percent on each of the first, second, third and fourth anniversaries of the grant date.

Key Figures

Common units acquired via exercises: 3,000 units Common units held after transactions: 20,250 units New phantom units granted: 3,000 phantom units +3 more

6 metrics

Common units acquired via exercises 3,000 units Phantom units converted to common units on May 29, 2026

Common units held after transactions 20,250 units Direct holdings following May 29, 2026 Form 4 activity

New phantom units granted 3,000 phantom units Grant on May 29, 2026, economically equivalent to common units

Phantom units exercised 3,000 phantom units Total derivative exercises reported, converting into common units

Phantom units held after activity 3,000 phantom units Remaining phantom units following exercises and new grant

Individual exercise lots 750 units each Four separate exercises of phantom units into common units

Key Terms

phantom units, economic equivalent, vested, grant date, +1 more

5 terms

phantom units financial

"the Reporting Person was granted 3,000 phantom units payable in common units"

Phantom units are a form of employee compensation that mimics ownership in a company without issuing real shares: recipients receive cash or stock value tied to the company’s share price or performance when the units vest. They matter to investors because phantom units align employee incentives with shareholder value while avoiding share dilution; however, they create future cash obligations and can affect a company’s financial statements and cash flow.

economic equivalent financial

"Each phantom unit was the economic equivalent of one common unit"

vested financial

"Twenty-five percent of this grant vested on 05/29/2026"

grant date financial

"vested on 05/29/2026, the fourth anniversary of the grant date"

The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.

anniversaries of the grant date financial

"The phantom units vest twenty-five percent on each of the first, second, third and fourth anniversaries of the grant date"

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MCCAIN ELLIS L

(Last) (First) (Middle)

845 TEXAS AVENUE

SUITE 1250

(Street)

HOUSTON TEXAS 77002

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Cheniere Energy Partners, L.P. [ CQP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Units Representing Limited Partner Interests	05/29/2026		M		750	A	(1)	20,250	D
Units Representing Limited Partner Interests	05/29/2026		M		750	A	(2)	21,000	D
Units Representing Limited Partner Interests	05/29/2026		M		750	A	(3)	21,750	D
Units Representing Limited Partner Interests	05/29/2026		M		750	A	(4)	22,500	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
PHANTOM UNITS	(1)	05/29/2026		M			750	05/29/2026	05/29/2026	COMMON UNITS	750	(1)	0	D
PHANTOM UNITS	(2)	05/29/2026		M			750	05/29/2026	05/29/2026	COMMON UNITS	750	(2)	750	D
PHANTOM UNITS	(3)	05/29/2026		M			750	05/29/2026	05/29/2026	COMMON UNITS	750	(3)	1,500	D
PHANTOM UNITS	(4)	05/29/2026		M			750	05/29/2026	05/29/2026	COMMON UNITS	750	(4)	2,250	D
PHANTOM UNITS	(5)	05/29/2026		A		3,000		(6)	(6)	COMMON UNITS	3,000	$0	3,000	D

Explanation of Responses:

1. On 05/29/2022, the Reporting Person was granted 3,000 phantom units payable in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 05/29/2026, the fourth anniversary of the grant date. Each phantom unit was the economic equivalent of one common unit of the Issuer.

2. On 05/29/2023, the Reporting Person was granted 3,000 phantom units payable in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 05/29/2026, the third anniversary of the grant date. Each phantom unit was the economic equivalent of one common unit of the Issuer.

3. On 05/29/2024, the Reporting Person was granted 3,000 phantom units payable in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 05/29/2026, the second anniversary of the grant date. Each phantom unit was the economic equivalent of one common unit of the Issuer.

4. On 05/29/2025, the Reporting Person was granted 3,000 phantom units payable in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 05/29/2026, the first anniversary of the grant date. Each phantom unit was the economic equivalent of one common unit of the Issuer.

5. On 05/29/2026, the Reporting Person was granted 3,000 phantom units payable in common units. Each phantom unit is the economic equivalent of one common unit of the Issuer.

6. The phantom units vest twenty-five percent on each of the first, second, third and fourth anniversaries of the grant date.

Remarks:

	/s/ Sean N. Markowitz by POA by Ellis L. McCain	06/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did CQP director Ellis L. McCain report on May 29, 2026?

Ellis L. McCain reported exercising phantom units into common units and receiving a new phantom unit grant on May 29, 2026. He acquired 3,000 common units through multiple exercises and was granted 3,000 new phantom units as part of long-term incentive compensation.

How many Cheniere Energy Partners (CQP) common units does Ellis L. McCain hold after these transactions?

After the reported transactions, Ellis L. McCain directly holds 20,250 common units of Cheniere Energy Partners. These units reflect his equity stake following the exercise of 3,000 phantom units that converted into common units on May 29, 2026.

What phantom unit activity did CQP disclose for Ellis L. McCain in this Form 4?

The filing shows McCain was granted 3,000 phantom units and exercised 3,000 previously granted phantom units into common units. Following these moves, he holds 3,000 phantom units, which continue to represent additional future equity-linked compensation in the partnership.

How do Ellis L. McCain’s phantom units at CQP vest according to the filing?

The phantom units vest 25% on each of the first, second, third, and fourth anniversaries of their grant date. Several earlier 3,000-unit grants from 2022 to 2025 reached a 25% vesting milestone on May 29, 2026, triggering conversion into common units.

Are Ellis L. McCain’s CQP transactions open-market buys or compensation-related events?

The reported transactions are compensation-related events, not open-market buys or sells. They involve grants of phantom units and the exercise of vested phantom units into common units at a stated price of $0.00 per unit, consistent with equity incentive awards.