Ferrellgas Partners (FGPR) director receives 3,796 Phantom Units award

Rhea-AI Filing Summary

Ferrellgas Partners director Scott Ian Asner received 3,796 Phantom Units as a new equity-based award. The grant, dated January 26, 2026, is priced at $0 per unit and leaves him with 3,796 derivative securities beneficially owned on a direct basis.

Each Phantom Unit is economically equivalent to one Class A Unit and accrues dividend-equivalent rights. The units vest on October 9, 2026 and entitle the holder to a future cash payment based on the average closing price of a Class A Unit over 10 trading days preceding specified events, including Board service termination, a change of control, or October 9, 2028.

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^*

Asner Scott Ian

(Last) (First) (Middle)

C/O FERRELLGAS, INC.

ONE LIBERTY PLAZA

(Street)

LIBERTY MO 64068

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
01/26/2026

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

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)	01/26/2026		A(2)		3,796		(3)	(4)	Class A Units	3,796	$0	3,796	D

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/ Scott Ian Asner	01/28/2026
	** 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 does the FGPR Form 4 filed by Scott Ian Asner report?

The filing reports a grant of 3,796 Phantom Units to director Scott Ian Asner. These derivative awards are priced at $0 per unit and are economically equivalent to Class A Units, with settlement in cash based on future average market prices under specified conditions.

How many Ferrellgas (FGPR) Phantom Units were granted and when do they vest?

Scott Ian Asner was granted 3,796 Phantom Units on January 26, 2026. The units vest on October 9, 2026, after which vested units entitle him to a cash payment determined using the average closing price of Class A Units over a defined 10‑day trading period.

What economic rights do the FGPR Phantom Units provide to Scott Ian Asner?

Each Phantom Unit is the economic equivalent of one Class A Unit and accrues dividend-equivalent rights. After vesting, each unit entitles Asner to a cash payment equal to the average closing price of a Class A Unit over 10 trading days before a specified triggering event.

Under what conditions are the FGPR Phantom Units paid out in cash?

Vested Phantom Units are paid in cash after the earliest of three events: termination of service from the Board of Directors, a change of control, or October 9, 2028. The cash amount uses the 10‑day average closing price of a Class A Unit before that event.

How many derivative securities does Scott Ian Asner beneficially own after this FGPR grant?

Following the grant, Scott Ian Asner beneficially owns 3,796 derivative securities in the form of Phantom Units. The filing shows these holdings as directly owned and tied to cash-settlement rights based on the future average market price of Ferrellgas Class A Units.