Ferrellgas (FGPR) director shifts Class B holdings into Class A units

Rhea-AI Filing Summary

Ferrellgas Partners director Pamela A. Breuckmann reported non-cash conversions of Class B Units into Class A Units. On March 16, 2026, 377 Class B Units held directly and 531 Class B Units held through the Pamela A. Breuckmann Revocable Trust were converted into Class A Units at a rate of five Class A Units for each Class B Unit. Following these conversions, she held 1,891 Class A Units directly and 4,744 Class A Units indirectly through the trust. All outstanding Class B Units of the issuer were converted to Class A Units on this date, and no Class B Units remain outstanding for this reporting person.

Insider Trade Summary

908 shares exercised/converted

Mixed 4 txns

Insider Breuckmann Pamela A

Role Director

Type	Security	Shares	Price	Value
Conversion	Class B Units	377	$0.00	--
Conversion	Class B Units	531	$0.00	--
Conversion	Class A Units	1,885	$0.00	--
Conversion	Class A Units	2,655	$0.00	--

Holdings After Transaction: Class B Units — 0 shares (Direct); Class B Units — 0 shares (Indirect, By Pamela A. Breuckmann Revocable Trust); Class A Units — 1,891 shares (Direct); Class A Units — 4,744 shares (Indirect, By Pamela A. Breuckmann Revocable Trust)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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
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^*

Breuckmann Pamela A

(Last) (First) (Middle)

C/O FERRELLGAS, INC.

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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Class A Units	03/16/2026		C(1)		1,885	A	(1)	1,891	D
Class A Units	03/16/2026		C(1)		2,655	A	(1)	4,744	I	By Pamela A. Breuckmann Revocable Trust

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
Class B Units	(1)	03/16/2026		C			377	(1)	(1)	Class A Units	(1)	$0	0	D
Class B Units	(1)	03/16/2026		C			531	(1)	(1)	Class A Units	(1)	$0	0	I	By Pamela A. Breuckmann Revocable Trust

Explanation of Responses:

1. On March 16, 2026, all of the Issuer's outstanding Class B Units were converted into Class A Units of the Issuer at a conversion rate of five Class A Units for each Class B Unit. The Class B Units were convertible at the option of the Issuer, subject to satisfaction of a specified condition, at specified conversion rates applicable to specified time periods. The Class B Units had no expiration date.

	/s/ Pamela A. Breuckmann	03/26/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Ferrellgas (FGPR) director Pamela Breuckmann report?

Pamela Breuckmann reported conversions of Class B Units into Class A Units. On March 16, 2026, she converted both directly held and trust-held Class B Units into Class A Units, reflecting a structural change in holdings rather than an open-market purchase or sale.

How many Ferrellgas (FGPR) Class A Units does Pamela Breuckmann hold after the conversion?

After the conversion, Pamela Breuckmann holds 1,891 Class A Units directly. She also holds 4,744 Class A Units indirectly through the Pamela A. Breuckmann Revocable Trust, as disclosed in the filing, giving visibility into her total reported Class A Unit position.

What was the conversion rate from Class B to Class A Units at Ferrellgas (FGPR)?

Each Class B Unit converted into five Class A Units. The filing states that all outstanding Class B Units were converted into Class A Units at a fixed rate of five Class A Units for every Class B Unit, and the Class B Units had no expiration date.

Did Ferrellgas (FGPR) director Pamela Breuckmann buy or sell units in the market?

The transactions were conversions, not market buys or sells. All reported entries use code “C” for conversion of derivative securities, reflecting Class B Units turning into Class A Units at no stated cash price, rather than open-market trading activity.

How are Pamela Breuckmann’s indirect Ferrellgas (FGPR) holdings structured?

Her indirect holdings are through a revocable trust. The filing notes that certain Class A Units are held by the Pamela A. Breuckmann Revocable Trust, indicating indirect ownership separate from her directly held Class A Units in Ferrellgas Partners.

What happened to all outstanding Class B Units of Ferrellgas (FGPR)?

All outstanding Class B Units were converted into Class A Units. On March 16, 2026, the issuer converted every Class B Unit at the five-for-one rate into Class A Units, leaving no Class B Units outstanding for the reporting person.