Energy Transfer LP (ET) director discloses 7,423 restricted units and updated holdings

Rhea-AI Filing Summary

Energy Transfer LP director reports new equity award and updated holdings. A board member of Energy Transfer LP received an award of 7,423 restricted common units on January 2, 2026 under the company’s long-term incentive plan at a price of $0 per unit. These restricted units are scheduled to vest 60% on January 2, 2029 and 40% on January 2, 2031, generally contingent on the director’s continued service on the board of the partnership’s general partner. The filing also reflects a transaction on December 29, 2025 involving 10 common units at a price of $0. After these transactions, the director reports beneficial ownership of 195,687 common units held directly and 24,523 common units held indirectly through The Amelia June Holt Perry Living Trust.

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^*

Perry James Richard

(Last) (First) (Middle)

200 OAK RUN LANE

(Street)

ROUND TOP TX 78954

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Energy Transfer LP [ ET ]

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)
01/02/2026

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
Common Units	12/29/2025		G	V	10	A	$0	188,264	D
Common Units	01/02/2026		A		7,423(1)	A	$0	195,687	D
Common Units								24,523	I	By: The Amelia June Holt Perry Living Trust U/A 10/12/2022

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

Explanation of Responses:

1. An award of restricted units granted under the Amended and Restated Energy Transfer LP Long-Term Incentive Plan scheduled to vest 60% on January 2, 2029 and 40% on January 2, 2031, generally contingent upon the reporting person's continued service on the Board of the general partner of the Partnership on each applicable vesting date.

	/s/ Peggy J. Harrison, Attorney-in-Fact for Mr. Perry	01/06/2026
	** 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.

FAQ

What insider transaction did Energy Transfer LP (ET) report in this Form 4?

The filing reports that a director of Energy Transfer LP received an award of 7,423 restricted common units on January 2, 2026 under the Amended and Restated Energy Transfer LP Long-Term Incentive Plan, at a price of $0 per unit.

What is the vesting schedule for the 7,423 restricted units reported by Energy Transfer LP (ET)?

The award of 7,423 restricted units is scheduled to vest 60% on January 2, 2029 and 40% on January 2, 2031, generally contingent on the reporting person’s continued service on the board of the general partner on each vesting date.

How many Energy Transfer LP (ET) units does the director own after these transactions?

After the reported transactions, the director beneficially owns 195,687 common units directly and 24,523 common units indirectly through The Amelia June Holt Perry Living Trust U/A 10/12/2022.

What other transaction besides the restricted unit grant is disclosed for the Energy Transfer LP (ET) director?

The filing shows a transaction on December 29, 2025 involving 10 common units with a transaction code G and a reported price of $0 per unit.

What role does the reporting person hold at Energy Transfer LP (ET)?

The reporting person is identified as a Director of Energy Transfer LP, with the appropriate box for director status checked in the relationship section.

How are some of the Energy Transfer LP (ET) units held indirectly by the director?

The filing states that 24,523 common units are held indirectly by the reporting person through The Amelia June Holt Perry Living Trust U/A 10/12/2022, as indicated in the indirect ownership column.