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  4. [Form 4] Navios Maritime Partners L.P. Insider Trading Activity

Insider at Navios Maritime Partners (NMM) adds 2,463 common units

Filing Impact
(Moderate)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Navios Maritime Partners L.P. insider Angeliki Frangou, a director, officer and more than 10% owner, reported open-market purchases of a total of 2,463 common units. She bought 1,234 common units at an average price of $68.2143 on April 1, 2026, and 1,229 common units at $69.4626 on April 2, 2026.

The purchases were made indirectly through Raymar Investments S.A., an entity affiliated with her, under a Rule 10b5-1 trading plan with UBS Financial Services Inc. Following these transactions, she beneficially owns 4,688,777 common units indirectly and 366,766 common units directly, plus 622,296 general partnership units held through Olympos Maritime Ltd., representing about a 2.1% ownership interest in Navios Maritime Partners based on all outstanding units.

Positive

  • None.

Negative

  • None.

Insights

Small, pre-planned insider buying that looks routine rather than thesis-changing.

Angeliki Frangou reported buying 2,463 Navios Maritime Partners common units in the open market at prices around $68–$69 per unit. These trades were executed through an affiliated entity, Raymar Investments S.A., under a Rule 10b5-1 trading plan adopted in December 2025.

After the purchases, she beneficially owns 4,688,777 common units indirectly and 366,766 common units directly, plus 622,296 general partnership units representing about a 2.1% interest. The added 2,463 units are very small relative to her overall stake, and the pre-planned nature of the trades makes their timing less informative.

Overall, the filing shows continued significant ownership and marginal incremental buying, but the scale and Rule 10b5-1 structure suggest this is routine portfolio management rather than a signal likely to alter an investment view.

Insider Frangou Angeliki
Role See Remarks
Bought 2,463 shs ($170K)
Type Security Shares Price Value
Purchase Common Unit 1,229 $69.4626 $85K
Purchase Common Unit 1,234 $68.2143 $84K
holding Common Unit -- -- --
holding General Partnership Unit -- -- --
Holdings After Transaction: Common Unit — 4,688,777 shares (Indirect, See footnote); Common Unit — 366,766 shares (Direct); General Partnership Unit — 622,296 shares (Indirect, See footnote)
Footnotes (1)
  1. The transactions reported herein were made pursuant to a Rule 10b5-1 trading plan between Raymar Investments S.A., an entity affiliated with Ms. Frangou, and UBS Financial Services Inc. adopted on December 9, 2025. The transactions reported herein were effected in multiple transactions each day at prices ranging from (1) $67.70 to $68.77 on April 1, 2026 and (2) $67.48 to $70.49 on April 2, 2026. The prices reported above reflect the weighted average purchase prices on each such day for the transactions reported herein. The Reporting Person hereby undertakes to provide upon request to the Staff of the Securities and Exchange Commission, the issuer, or any security holder of the issuer full information regarding the number of shares and the prices at which these reported transactions were effected each day. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 15,234 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of April 1, 2026. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 16,463 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of April 2, 2026. Olympos Maritime Ltd., an entity affiliated with Ms. Frangou, is the general partner (the "General Partner") of Navios Maritime Partners L.P. ("NMM"). As of April 3, 2026, the General Partner owns 622,296 general partnership units, representing an approximately 2.1% ownership interest in NMM based on all outstanding common units and general partnership units.
Units bought April 1, 2026 1,234 common units at $68.2143 Open-market purchase of Navios Maritime Partners units
Units bought April 2, 2026 1,229 common units at $69.4626 Open-market purchase of Navios Maritime Partners units
Total units bought 2,463 common units Aggregate of April 1–2, 2026 purchases
Indirect common units after trades 4,688,777 common units Beneficially owned indirectly by Frangou after April 2, 2026
Direct common units holding 366,766 common units Directly owned by Frangou as of April 1, 2026
General partnership units 622,296 units (~2.1%) Owned by Olympos Maritime Ltd., affiliated with Frangou, as of April 3, 2026
April 1 trade price range $67.70–$68.77 Range of prices for April 1, 2026 transactions
April 2 trade price range $67.48–$70.49 Range of prices for April 2, 2026 transactions
Rule 10b5-1 trading plan regulatory
"The transactions reported herein were made pursuant to a Rule 10b5-1 trading plan between Raymar Investments S.A."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
beneficially owned financial
"The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
weighted average purchase prices financial
"The prices reported above reflect the weighted average purchase prices on each such day for the transactions"
general partnership units financial
"the General Partner owns 622,296 general partnership units, representing an approximately 2.1% ownership interest"
more than 10% owner regulatory
"reporting person is listed as a director, officer and more than 10% owner"
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).
X
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*
Frangou Angeliki
(Last)(First)(Middle)
C/O NAVIOS SHIPMANAGEMENT INC.
85 AKTI MIAOULI
(Street)
PIRAEUSGREECE18538
(City)(State)(Zip)
GREECE
(Country)		2. Issuer Name and Ticker or Trading Symbol
Navios Maritime Partners L.P. [ NMM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirectorX10% Owner
XOfficer (give title below)Other (specify below)
See Remarks
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026		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
Common Unit04/01/2026P(1)1,234A$68.2143(2)4,687,548ISee footnote(3)
Common Unit04/02/2026P(1)1,229A$69.4626(2)4,688,777ISee footnote(4)
Common Unit366,766D
General Partnership Unit622,296ISee footnote(5)
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
Explanation of Responses:
1. The transactions reported herein were made pursuant to a Rule 10b5-1 trading plan between Raymar Investments S.A., an entity affiliated with Ms. Frangou, and UBS Financial Services Inc. adopted on December 9, 2025.
2. The transactions reported herein were effected in multiple transactions each day at prices ranging from (1) $67.70 to $68.77 on April 1, 2026 and (2) $67.48 to $70.49 on April 2, 2026. The prices reported above reflect the weighted average purchase prices on each such day for the transactions reported herein. The Reporting Person hereby undertakes to provide upon request to the Staff of the Securities and Exchange Commission, the issuer, or any security holder of the issuer full information regarding the number of shares and the prices at which these reported transactions were effected each day.
3. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 15,234 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of April 1, 2026.
4. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 16,463 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of April 2, 2026.
5. Olympos Maritime Ltd., an entity affiliated with Ms. Frangou, is the general partner (the "General Partner") of Navios Maritime Partners L.P. ("NMM"). As of April 3, 2026, the General Partner owns 622,296 general partnership units, representing an approximately 2.1% ownership interest in NMM based on all outstanding common units and general partnership units.
Remarks:
Chief Executive Officer & Chairwoman of the Board
/s/ Todd Mason, by POA from Angeliki Frangou, Chairwoman of the Board, Chief Executive Officer and Director04/03/2026
** 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 did Angeliki Frangou report in this Navios Maritime Partners (NMM) Form 4?

She reported open-market purchases of 2,463 Navios Maritime Partners common units over two days. The trades occurred on April 1 and April 2, 2026, at weighted average prices around the high-$60s per unit, executed indirectly through an affiliated investment entity.

How many Navios Maritime Partners (NMM) units did Frangou buy and at what prices?

Frangou bought 1,234 common units at a weighted average price of $68.2143 on April 1, 2026, and 1,229 common units at $69.4626 on April 2, 2026. Both transactions were reported as open-market purchases of Navios Maritime Partners common units.

Were the NMM insider purchases made under a Rule 10b5-1 trading plan?

Yes. The filing states the transactions were made under a Rule 10b5-1 trading plan between Raymar Investments S.A., an entity affiliated with Frangou, and UBS Financial Services Inc. This trading plan was adopted on December 9, 2025 and governs the reported purchases.

How many Navios Maritime Partners (NMM) common units does Frangou beneficially own after these trades?

After the reported purchases, Frangou beneficially owns 4,688,777 common units indirectly and 366,766 common units directly. The indirect holdings include units owned through N Shipmanagement Acquisition Corp. and other affiliated entities, as well as units held via Raymar Investments S.A.

What are the price ranges for the NMM trades mentioned in the Form 4 footnotes?

The footnotes explain that trades on April 1, 2026 occurred at prices ranging from $67.70 to $68.77, and trades on April 2, 2026 ranged from $67.48 to $70.49. The Form 4 reports weighted average purchase prices for each day rather than listing every individual trade.

What is the significance of the 622,296 general partnership units mentioned for Navios Maritime Partners (NMM)?

Olympos Maritime Ltd., an entity affiliated with Frangou, owns 622,296 general partnership units in Navios Maritime Partners. The filing notes this represents approximately a 2.1% ownership interest in the partnership based on all outstanding common units and general partnership units as of April 3, 2026.