Ferrellgas director granted 1,019 Phantom Units
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.
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 Trade Summary
Grant/Award: 1,019 shares
Grant/Award
1 txn
Insider
Safran Andrew
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Units | 1,019 | $0.00 | $0.00 |
Holdings After Transaction:
Phantom Units — 1,019 contracts (Direct)
Footnotes (4)
- F1. Each Phantom Unit represents the economic equivalent of one Class A Unit.
- F2. Accrues dividend equivalent rights.
- F3. 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.
- F4. See above note.
Key Figures
Phantom Units granted: 1,019 units
Grant price per unit: $0.0000
Units following transaction: 1,019 units
+3 more
6 metrics
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
Key Terms
Phantom Units, Class A Unit, dividend equivalent rights, change of control, +1 more
5 terms
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."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
