Energy Transfer (ET) director reports 7,423 restricted unit award on Form 4

Rhea-AI Filing Summary

Energy Transfer LP director Thomas E. McReynolds reported receiving an award of 7,423 common units on January 2, 2026. The units were granted at a price of $0 under the Energy Transfer LP Long-Term Incentive Plan. The restricted units are scheduled to vest 60% on January 2, 2029 and 40% on January 2, 2031, generally contingent on his continued service on the board of the general partner through each vesting date.

After this grant, McReynolds beneficially owns 686,236 common units directly. He also reports indirect ownership of 12,142,593 common units through McReynolds Equity Partners, L.P. and 17,445,608 common units through McReynolds Energy Partners, L.P. This filing reflects an equity-based compensation grant rather than an open‑market purchase or sale.

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

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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^*

MCREYNOLDS JOHN W

(Last) (First) (Middle)

8111 WESTCHESTER DRIVE, SUITE 600

(Street)

DALLAS TX 75225

(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	01/02/2026		A		7,423(1)	A	$0	686,236	D
Common Units								12,142,593	I	By: McReynolds Equity Partners, L.P.
Common Units								17,445,608	I	By: McReynolds Energy Partners, L.P.

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. McReynolds	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 (ET) report for Thomas E. McReynolds?

Thomas E. McReynolds, a director of Energy Transfer LP, reported an award of 7,423 common units on January 2, 2026 as equity compensation.

At what price were the 7,423 Energy Transfer (ET) units granted to the director?

The 7,423 common units reported by the director were granted at a stated price of $0, consistent with a restricted unit award under a long-term incentive plan.

When do the restricted units granted to the Energy Transfer (ET) director vest?

The restricted units are scheduled to vest 60% on January 2, 2029 and 40% on January 2, 2031, generally contingent on continued board service through each vesting date.

How many Energy Transfer (ET) units does Thomas E. McReynolds own after this transaction?

Following the award, Thomas E. McReynolds reports 686,236 common units held directly, plus 12,142,593 units indirectly through McReynolds Equity Partners, L.P. and 17,445,608 units indirectly through McReynolds Energy Partners, L.P.

Is this Energy Transfer (ET) Form 4 transaction a purchase or equity grant?

This Form 4 reflects an equity grant of restricted common units under the Amended and Restated Energy Transfer LP Long-Term Incentive Plan, not an open-market purchase or sale.

What is the relationship of the reporting person to Energy Transfer (ET)?

The reporting person, Thomas E. McReynolds, is identified as a director of Energy Transfer LP and files this Form 4 as a single reporting person.