[Form 4] Cheniere Energy Partners, LP Insider Trading Activity

Rhea-AI Filing Summary

Richard Oliver G III, a director of Cheniere Energy Partners, L.P. (CQP), reported Section 16 transactions dated 09/07/2025. On that date portions of previously granted phantom unit awards vested: 750 phantom units vested from each of the 2021, 2022, 2023 and 2024 grants (each grant originally 3,000 phantom units), and a new 3,000 phantom-unit grant payable in cash was issued. The filing shows multiple matched transactions: phantom units converted/recognized (code M) in 750-unit increments and corresponding disposals (code D) of 375 units at $53.98 in several lines. Each phantom unit is stated to be the economic equivalent of one common unit, and the phantom units vest 25% on each anniversary of the grant date.

Positive

• Scheduled vesting of long-term incentive awards occurred for multiple prior grants, demonstrating planned compensation execution
• New cash-settled grant of 3,000 phantom units was granted on 09/07/2025

Negative

• Partial dispositions recorded: multiple disposals of 375 units at $53.98, indicating units were sold or settled for cash
• Form 4 does not disclose total outstanding common units or percentage ownership, so ownership impact cannot be measured from this filing

Insights

Corporate Governance Expert

TL;DR: Director received scheduled vesting of long-term phantom-unit awards and a new cash-settled grant; transactions are routine compensation events.

The filing documents routine vesting activity for long-term incentive awards: 25% tranche vesting across four prior grants and a contemporaneous cash-settled grant of 3,000 phantom units. The report includes matched acquisitions (code M) reflecting vesting and small disposals (code D) of 375 units at $53.98 each, consistent with sale/settlement activity tied to vesting. This pattern aligns with standard equity-compensation mechanics for alignment and liquidity; no amendments, unusual transactions, or changes in control are disclosed.

Securities Analyst

TL;DR: The Form 4 shows incremental increases in beneficial phantom-unit holdings plus short-form dispositions at $53.98; no material dilution or large disposals signaled.

The reporting shows four separate 750-unit vesting events from prior grants and an additional 3,000-unit cash grant. Disposals of 375 units at $53.98 are recorded against successive ownership totals (e.g., from 18,000 to 17,625, etc.), indicating partial sell-to-cover or cash-settlement steps. All phantom units are economically equivalent to common units, but this filing does not quantify total outstanding common units or percentage ownership, so investor-scale impact cannot be measured from this document alone.

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
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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^*

Richard Oliver G III

(Last) (First) (Middle)

949 RYAN STREET

(Street)

LAKE CHARLES LA 70601

(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)	18,000	D
Units Representing Limited Partner Interests	09/07/2025		D		375	D	$53.98	17,625	D
Units Representing Limited Partner Interests	09/07/2025		M		750	A	(2)	18,375	D
Units Representing Limited Partner Interests	09/07/2025		D		375	D	$53.98	18,000	D
Units Representing Limited Partner Interests	09/07/2025		M		750	A	(3)	18,750	D
Units Representing Limited Partner Interests	09/07/2025		D		375	D	$53.98	18,375	D
Units Representing Limited Partner Interests	09/07/2025		M		750	A	(4)	19,125	D
Units Representing Limited Partner Interests	09/07/2025		D		375	D	$53.98	18,750	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 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 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 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 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 09/7/2025, the Reporting Person was granted 3,000 phantom units payable in cash. 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 Oliver G. Richard, III	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 CQP director Richard Oliver G III report on Form 4?

The Form 4 reports vesting events on 09/07/2025: four 750-unit vesting entries from prior phantom-unit grants and a new 3,000 phantom-unit cash grant, plus several disposals of 375 units at $53.98.

What is a phantom unit as described in the CQP Form 4?

The filing states each phantom unit is the economic equivalent of one common unit of the issuer and vests 25% on each of the first four anniversaries of the grant date.

How many phantom units vested on 09/07/2025 for prior grants?

On 09/07/2025, 750 phantom units vested from each of the 2021, 2022, 2023 and 2024 grants (four separate 750-unit vesting events).

Were any units sold or disposed of and at what price?

Yes; the Form 4 records multiple disposals of 375 units at $53.98 in connection with the 09/07/2025 transactions.

Does the Form 4 show a change in reporting person’s role or control status?

No. The filing identifies the reporting person as a Director and does not report any change in role or that the person is a 10% owner.