Suburban Propane (SPH) files Form 144 for 7,500-share sale via Morgan Stanley

Rhea-AI Filing Summary

Form 144 notice reports a proposed sale of 7,500 shares of the issuer's common stock through Morgan Stanley Smith Barney, with an aggregate market value of $139,977. The securities are listed on the NYSE and the filing shows 65,473,322 shares outstanding, placing the proposed sale at a very small fraction of the outstanding equity. The shares were acquired on 11/15/2024 as compensation for past services from the issuer and are being sold via an identified broker with an approximate sale date of 08/13/2025.

The filing also discloses a prior sale during the past three months by an individual named Harold R. Logan Jr. of 6,900 Class A common shares for gross proceeds of $132,034.95. The filer certifies they are not aware of any undisclosed material adverse information about the issuer. The notice is a routine compliance filing detailing insider compensation shares being offered for sale and related historical dispositions.

Insights

Securities Analyst

TL;DR: Proposed sale of 7,500 compensation shares appears immaterial relative to outstanding equity and is a routine Rule 144 compliance notice.

The Form 144 specifies a planned sale of 7,500 common shares acquired as compensation on 11/15/2024, listed with an aggregate market value of $139,977 and an approximate sale date of 08/13/2025. Against 65,473,322 shares outstanding, this position represents a de minimis ownership stake, suggesting limited market impact. The filing's disclosure of a recent sale of 6,900 shares by an identified seller provides additional context on recent insider liquidity but does not, by itself, indicate material change to company fundamentals.

Corporate Governance Expert

TL;DR: Insider sale of compensation shares is documented and accompanied by standard certifications; appears to follow routine governance and disclosure practices.

The document shows the securities were granted as compensation for past services and are now proposed to be sold through an identified broker, which is consistent with standard post-grant disposition. The statement by the filer affirming no knowledge of undisclosed material adverse information is the typical attestation on this form. The recent prior sale by a named individual is noted but the sizes disclosed are small relative to the company's outstanding shares, limiting governance or signaling concerns based solely on these entries.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	7500	139977.00	65473322	08/13/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	11/15/2024	Compensation for Past Services	ISSUER			7500	11/15/2024	Services Rendered

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
HAROLD R. LOGAN JR. 240 Route 10 West Whippany NJ 07981	Class A Common	05/21/2025	6900	132034.95

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the SPH Form 144 announce?

The filing announces a proposed sale of 7,500 common shares with an aggregate market value of $139,977 to be executed through Morgan Stanley Smith Barney.

How and when were the shares being sold on the SPH Form 144 acquired?

The 7,500 shares were acquired on 11/15/2024 as compensation for past services from the issuer; the filing notes the nature of payment as services rendered.

What exchange and broker are listed in the SPH filing?

The securities are listed on the NYSE and the broker of record is Morgan Stanley Smith Barney LLC.

Does the Form 144 show any recent sales by insiders for SPH?

Yes. The filing lists a past sale by Harold R. Logan Jr. of 6,900 Class A common shares on 05/21/2025 for gross proceeds of $132,034.95.

Does the filer claim possession of undisclosed material information in the SPH Form 144?

The filer represents by signing the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.