Angeliki Frangou (NMM) adds 3,771 common units via 10b5-1 plan buys

Filing Impact

(Moderate)

Filing Sentiment

(Positive)

Form Type

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 common units made through affiliated entity Raymar Investments S.A. under a Rule 10b5-1 trading plan adopted on December 9, 2025.

Raymar bought 1,235 common units at a weighted average price of $66.9958 on March 19, 2026, 1,247 units at $66.7065 on March 20, 2026, and 1,289 units at $64.8692 on March 23, 2026, totaling 3,771 units.

Following these transactions, Frangou beneficially owns 4,678,741 common units indirectly, including 3,183,199 units through N Shipmanagement Acquisition Corp., 1,489,115 units through three other affiliated entities and 6,427 units through Raymar as of March 23, 2026. She also holds 366,766 common units directly and 622,296 general partnership units, representing approximately 2.1% ownership based on all outstanding common and general partnership units.

Insider Trade Summary 10b5-1

Net Buyer: 3,771 shares ($249,539)

Net Buy 5 txns

Insider Frangou Angeliki

Role See Remarks

Bought 3,771 shs ($250K)

Type	Security	Shares	Price	Value
Purchase	Common Unit	1,289	$64.8692	$84K
Purchase	Common Unit	1,247	$66.7065	$83K
Purchase	Common Unit	1,235	$66.9958	$83K
holding	Common Unit	--	--	--
holding	General Partnership Unit	--	--	--

Holdings After Transaction: Common Unit — 4,678,741 shares (Indirect, See footnote); Common Unit — 366,766 shares (Direct); General Partnership Unit — 622,296 shares (Direct)

Footnotes (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) $66.43 to $67.47 on March 19, 2026; (2) $65.72 to $67.06 on March 20, 2026 and (3) $64.00 to $65.38 on March 23, 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) 3,891 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 March 19, 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) 5,138 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 March 20, 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) 6,427 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 March 23, 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 March 23, 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.

Form 4 Insider Transactions: What Each Field Means →

03/23/2026 - 06:03 PM

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^*

Frangou Angeliki

(Last)

(First)

(Middle)

C/O NAVIOS SHIPMANAGEMENT INC.

85 AKTI MIAOULI

(Street)

PIRAEUS

GREECE

18538

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Unit	03/19/2026		P⁽¹⁾		1,235	A	$66.9958⁽²⁾	4,676,205	I	See footnote⁽³⁾
Common Unit	03/20/2026		P⁽¹⁾		1,247	A	$66.7065⁽²⁾	4,677,452	I	See footnote⁽⁴⁾
Common Unit	03/23/2026		P⁽¹⁾		1,289	A	$64.8692⁽²⁾	4,678,741	I	See footnote⁽⁵⁾
Common Unit								366,766	D
General Partnership Unit								622,296	D⁽⁶⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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) $66.43 to $67.47 on March 19, 2026; (2) $65.72 to $67.06 on March 20, 2026 and (3) $64.00 to $65.38 on March 23, 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) 3,891 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 March 19, 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) 5,138 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 March 20, 2026.

5. 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) 6,427 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 March 23, 2026.

6. 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 March 23, 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 Director	03/23/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Angeliki Frangou report for Navios Maritime Partners (NMM)?

Angeliki Frangou reported three open-market purchases totaling 3,771 common units. The buys occurred on March 19, 20 and 23, 2026 through Raymar Investments S.A., an affiliated entity, under a pre-established Rule 10b5-1 trading plan with UBS Financial Services Inc.

At what prices were the Navios Maritime Partners (NMM) units purchased?

The reported purchases were made at weighted average prices between $64.8692 and $66.9958 per unit. Each day’s trades occurred in multiple transactions within ranges from $64.00 to $67.47, with the Form 4 disclosing the weighted averages for each trading date.

How many Navios Maritime Partners (NMM) units does Angeliki Frangou now beneficially own?

After these transactions, Angeliki Frangou beneficially owns 4,678,741 common units indirectly. This includes holdings via N Shipmanagement Acquisition Corp., three other affiliated entities and Raymar Investments S.A. She also holds 366,766 common units directly as of March 19–23, 2026.

What is the role of Raymar Investments S.A. in the NMM Form 4 filing?

Raymar Investments S.A. is an entity affiliated with Angeliki Frangou that executed the reported purchases. The trades occurred under a Rule 10b5-1 trading plan between Raymar and UBS Financial Services Inc., adopted on December 9, 2025, providing a pre-arranged framework for acquisitions.

What is a Rule 10b5-1 trading plan and how does it relate to NMM’s insider buys?

A Rule 10b5-1 trading plan is a preset program for trading a company’s securities. In this case, Raymar Investments S.A., affiliated with Angeliki Frangou, used such a plan with UBS Financial Services Inc. to systematically purchase NMM common units on specified dates.

What additional interests does Angeliki Frangou hold in Navios Maritime Partners (NMM)?

Besides common units, Angeliki Frangou is linked to 622,296 general partnership units. These are owned by Olympos Maritime Ltd., the general partner of NMM and an entity affiliated with her, representing approximately 2.1% ownership interest based on all outstanding units as of March 23, 2026.