Director at MARTIN MIDSTREAM (MMLP) receives 23,200-unit equity grant

Rhea-AI Filing Summary

MARTIN MIDSTREAM PARTNERS L.P. director Byron R. Kelley reported an acquisition of common units through an equity award. On this Form 4, he received a grant of 23,200 common units as a restricted stock award at a reference price of $2.8017 per unit. Following this grant, his directly owned stake increased to 175,266 common units, reflecting additional equity-based compensation rather than an open-market purchase.

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

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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^*

KELLEY BYRON R

(Last) (First) (Middle)

4200 STONE ROAD

(Street)

KILGORE TX 75662

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MARTIN MIDSTREAM PARTNERS L.P. [ MMLP ]

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)
02/17/2026

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	02/17/2026		A		23,200(1)	A	$2.8017	175,266	D

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. Grant of restricted stock award.

Remarks:

Byron Kelley is a director of Martin Midstream GP LLC, the general partner of Martin Midstream Partners L.P.

	/s/ Byron R. Kelley	02/19/2026
	** 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.
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FAQ

What insider transaction did MMLP director Byron Kelley report on this Form 4?

Director Byron R. Kelley reported receiving a grant of 23,200 MARTIN MIDSTREAM PARTNERS L.P. common units. The filing describes this as a restricted stock award, indicating equity compensation rather than an open-market transaction, and it increases his directly held ownership position in the partnership.

Was the MMLP insider transaction a stock purchase or an equity award?

The MMLP insider activity was an equity award, not a market purchase. The Form 4 identifies the transaction as a grant of restricted stock, coded as a grant, award, or other acquisition, highlighting that the units were received as compensation rather than bought in the open market.

How many MMLP common units does Byron Kelley own after this reported grant?

After the reported restricted stock grant, Byron R. Kelley directly owns 175,266 MARTIN MIDSTREAM PARTNERS L.P. common units. This total reflects the addition of 23,200 units from the grant and represents his direct beneficial ownership position following the transaction on record.

What was the reference price for the MMLP restricted stock units granted to the director?

The restricted stock units granted to the director carried a reference price of $2.8017 per common unit. This figure is disclosed in the Form 4 as the transaction price per share for the 23,200-unit award, providing a valuation reference for the equity compensation granted.

How is the MMLP Form 4 transaction coded and what does it mean?

The MMLP Form 4 transaction is coded “A” for a grant, award, or other acquisition. This indicates the director acquired the 23,200 common units through an equity compensation grant, rather than by buying or selling units in the open market or through a discretionary trading decision.