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Ferrellgas Partners (FGPR) director awarded 1,019 cash-settled Phantom Units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Ferrellgas Partners L.P. director Andrew Safran received a grant of 1,019 Phantom Units, each representing the economic equivalent of one Class A Unit. The award was granted at no exercise price and accrues dividend equivalent rights.

The Phantom Units vest on October 9, 2026. After vesting, each unit entitles Safran to a cash payment following the earlier of leaving the Board, a change of control, or October 9, 2028, based on the average closing price of a Class A Unit over the 10 trading days before that event.

Positive

  • None.

Negative

  • None.
Insider Safran Andrew
Role null
Type Security Shares Price Value
Grant/Award Phantom Units 1,019 $0.00 --
Holdings After Transaction: Phantom Units — 1,019 shares (Direct, null)
Footnotes (1)
  1. Each Phantom Unit represents the economic equivalent of one Class A Unit. Accrues dividend equivalent rights. Vests on October 9, 2026. Each vested Phantom Unit represents the right to receive a cash payment following the first to occur of (1) termination of service from the Board of Directors, (2) a change of control, or (3) October 9, 2028, in an amount equal to the average closing price of a Class A Unit for the 10 trading days immediately preceding the first to occur of the foregoing, subject to the terms and conditions of the Phantom Unit Award Agreement. See above note.
Phantom Units granted 1,019 units Grant of Phantom Units to director Andrew Safran
Grant price per unit $0.0000 Phantom Unit award granted at no exercise price
Units following transaction 1,019 units Total Phantom Units held after this award
Underlying Class A Units 1,019 units Each Phantom Unit economically equals one Class A Unit
Vesting date October 9, 2026 Date Phantom Units vest for Andrew Safran
Final payment reference date October 9, 2028 Latest date for payment-trigger event reference
Phantom Units financial
"Each Phantom Unit represents the economic equivalent of one Class A Unit."
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.
Class A Unit financial
"Each Phantom Unit represents the economic equivalent of one Class A Unit."
dividend equivalent rights financial
"Accrues dividend equivalent rights."
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
change of control financial
"following the first to occur of (1) termination of service from the Board of Directors, (2) a change of control, or (3) October 9, 2028"
A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.
Phantom Unit Award Agreement financial
"subject to the terms and conditions of the Phantom Unit Award Agreement."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Safran Andrew
(Last)(First)(Middle)
ONE LIBERTY PLAZA
(Street)
LIBERTY MISSOURI 64068
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
FERRELLGAS PARTNERS L P [ NONE ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Units(1)06/01/2026A(2)1,019 (3) (4)Class A Units1,019$01,019D
Explanation of Responses:
1. Each Phantom Unit represents the economic equivalent of one Class A Unit.
2. Accrues dividend equivalent rights.
3. Vests on October 9, 2026. Each vested Phantom Unit represents the right to receive a cash payment following the first to occur of (1) termination of service from the Board of Directors, (2) a change of control, or (3) October 9, 2028, in an amount equal to the average closing price of a Class A Unit for the 10 trading days immediately preceding the first to occur of the foregoing, subject to the terms and conditions of the Phantom Unit Award Agreement.
4. See above note.
/s/ Andrew Safran06/03/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Ferrellgas Partners (FGPR) report for Andrew Safran?

Andrew Safran received 1,019 Phantom Units as a compensation award. Each Phantom Unit is economically equivalent to one Class A Unit and was granted at no exercise price, increasing his deferred, cash-settled exposure to Ferrellgas Partners’ equity value over time.

When do Andrew Safran’s 1,019 Phantom Units at Ferrellgas Partners (FGPR) vest?

The 1,019 Phantom Units granted to Andrew Safran vest on October 9, 2026. After vesting, each unit can trigger a cash payment when he leaves the Board, if a change of control occurs, or on October 9, 2028, whichever happens first.

How are Andrew Safran’s Phantom Units at Ferrellgas Partners (FGPR) settled?

The Phantom Units are settled in cash rather than stock. Each vested unit pays an amount equal to the average closing price of a Class A Unit over the 10 trading days before the earliest of his Board departure, a change of control, or October 9, 2028.

Do the Ferrellgas Partners (FGPR) Phantom Units granted to Andrew Safran earn dividends?

Yes, the Phantom Units accrue dividend equivalent rights. This means Safran receives cash or equivalent credits tied to dividends paid on Class A Units, aligning the economic benefits of the Phantom Units with those of actual unit ownership during the award period.

What does each Phantom Unit represent in the Ferrellgas Partners (FGPR) grant?

Each Phantom Unit represents the economic equivalent of one Class A Unit of Ferrellgas Partners. While they do not confer actual unit ownership, they mirror the value and dividend profile of Class A Units and are ultimately settled in cash rather than additional partnership units.