Cheniere Energy Partners Insider Filing: Ball Reports Vesting and $53.98 Sales

Rhea-AI Filing Summary

James Robert Ball, a director of Cheniere Energy Partners, L.P. (CQP), reported a series of transactions on 09/07/2025 related to phantom units and common units. Multiple prior grants partially vested, producing vesting entries and cash/common-unit settlements. Following the reported activity, Mr. Ball beneficially owned 8,625 common-unit equivalents. Several disposals are reported at a price of $53.98 per unit for specified executed sales.

Positive

• Vesting of long-term awards from grants made 2021–2025 shows alignment with prior compensation programs
• Beneficial ownership remains substantial at 8,625 unit equivalents after transactions

Negative

• Reported disposals at $53.98 reduced direct holdings on 09/07/2025
• Partial cash settlements indicate some economic realization rather than retention in common units

Insights

Financial Analyst

TL;DR: Director executed routine vesting and small disposals; ownership changed modestly without indicating a material shift in control or liquidity.

The Form 4 documents vesting events from prior phantom-unit grants and associated disposals executed on 09/07/2025. Total beneficial ownership after these transactions is reported as 8,625 unit equivalents. Disposals executed at $53.98 reduce direct holdings but represent limited scale relative to total ownership. This filing appears to reflect scheduled compensation vesting and partial cash settlements rather than extraordinary insider divestiture.

Corporate Governance Expert

TL;DR: Transactions are consistent with standard director compensation vesting schedules and mixed cash/unit settlement mechanics.

The explanation clarifies that phantom-unit grants from 2021–2025 vest 25% annually and that some awards pay in cash while others split cash and common units. The reporting via POA and signature indicates standard administrative handling. No new grants beyond those disclosed appear to change governance or authority.

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

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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^*

Ball James Robert

(Last) (First) (Middle)

845 TEXAS AVENUE

SUITE 1250

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
09/07/2025

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

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

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

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	09/07/2025		M		750	A	(1)	8,250	D
Units Representing Limited Partner Interests	09/07/2025		D		750	D	$53.98	7,500	D
Units Representing Limited Partner Interests	09/07/2025		M		750	A	(2)	8,250	D
Units Representing Limited Partner Interests	09/07/2025		D		750	D	$53.98	7,500	D
Units Representing Limited Partner Interests	09/07/2025		M		750	A	(3)	8,250	D
Units Representing Limited Partner Interests	09/07/2025		D		375	D	$53.98	7,875	D
Units Representing Limited Partner Interests	09/07/2025		M		750	A	(4)	8,625	D
Units Representing Limited Partner Interests	09/07/2025		D		375	D	$53.98	8,250	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)	09/07/2025		M			750	09/07/2025	09/07/2025	COMMON UNITS	750	(1)	0	D
PHANTOM UNITS	(2)	09/07/2025		M			750	09/07/2025	09/07/2025	COMMON UNITS	750	(2)	750	D
PHANTOM UNITS	(3)	09/07/2025		M			750	09/07/2025	09/07/2025	COMMON UNITS	750	(3)	1,500	D
PHANTOM UNITS	(4)	09/07/2025		M			750	09/07/2025	09/07/2025	COMMON UNITS	750	(4)	2,250	D
PHANTOM UNITS	(5)	09/07/2025		A		3,000		(6)	(6)	COMMON UNITS	3,000	$0	3,000	D

Explanation of Responses:

1. On 09/7/2021, the Reporting Person was granted 3,000 phantom units payable in cash and previously reported on a Form 4. Twenty-five percent of this grant vested on 9/7/2025, the fourth anniversary of the grant date. Each phantom unit is the economic equivalent of one common unit of the Issuer.

2. On 09/7/2022, the Reporting Person was granted 3,000 phantom units payable in cash and previously reported on a Form 4. Twenty-five percent of this grant vested on 9/7/2025, the third anniversary of the grant date. Each phantom unit is the economic equivalent of one common unit of the Issuer.

3. On 09/7/2023, the Reporting Person was granted 3,000 phantom units payable one-half in cash and one-half in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 9/7/2025, the second anniversary of the grant date. Each phantom unit is the economic equivalent of one common unit of the Issuer.

4. On 09/7/2024, the Reporting Person was granted 3,000 phantom units payable one-half in cash and one-half in common units and previously reported on a Form 4. Twenty-five percent of this grant vested on 9/7/2025, the first anniversary of the grant date. Each phantom unit is the economic equivalent of one common unit of the Issuer.

5. On 9/7/2025, the Reporting Person was granted 3,000 phantom units payable one-half in cash and one-half 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 under POA by James Robert Ball	09/09/2025
	** 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.

FAQ

What transactions did James Robert Ball report on Form 4 for CQP?

The filing reports vesting of phantom-unit grants and associated disposals on 09/07/2025, including sales executed at $53.98 per unit.

How many unit equivalents does Mr. Ball own after the reported transactions?

Following the reported activity, Mr. Ball beneficially owned 8,625 common-unit equivalents.

What is the vesting schedule for the phantom units mentioned in the Form 4?

Each phantom-unit grant vests 25% on each of the first four anniversaries of its grant date, per the filing.

Were any new phantom-unit grants made on 09/07/2025?

Yes. The filing notes a 3,000 phantom-unit grant on 09/07/2025 payable one-half in cash and one-half in common units.

Who signed the Form 4 filing for James Robert Ball?

The Form 4 was signed under power of attorney by Sean N. Markowitz on behalf of James Robert Ball on 09/09/2025.