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  4. [Form 4] SUBURBAN PROPANE PARTNERS LP Insider Trading Activity

SPH insider reports 24,112 phantom units and tax withholding

Filing Impact
(Very High)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Suburban Propane Partners LP (SPH) senior vice president for product supply, purchasing and logistics reported routine equity compensation activity. On 11/14/2025, the insider had 11,998 common units withheld at $18.83 per unit to cover taxes tied to the vesting of previously granted restricted units, and 23,403 common units were acquired and then disposed of at the same price, leaving 147,357 common units held directly. On 11/15/2025, the insider acquired 24,112 common units at $0.00 as part of equity awards, increasing direct holdings to 171,469 common units. A related phantom unit award of 24,112 units was granted, with one third of the phantom units vesting on each of the first three anniversaries of the grant date and settling in cash based on the trading prices of the common units on each vesting date.

Positive

  • None.

Negative

  • None.
Insider Brinkworth Douglas
Role SVP- Prod.Sup,Purch.&Logistics
Type Security Shares Price Value
Grant/Award Phantom Units 24,112 $0.00 --
Grant/Award Common Units (representing limited partnership interests) 24,112 $0.00 --
Exercise Phantom Units 23,403 $0.00 --
Tax Withholding Common Units (representing limited partnership interests) 11,998 $18.83 $226K
Exercise Common Units (representing limited partnership interests) 23,403 $18.83 $441K
Disposition Common Units (representing limited partnership interests) 23,403 $18.83 $441K
Holdings After Transaction: Phantom Units — 49,064 shares (Direct); Common Units (representing limited partnership interests) — 171,469 shares (Direct)
Footnotes (1)
  1. Represents filer's payment of tax liability in connection with the vesting of previously granted restricted units by means of Issuer's withholding of Common Units in accordance with the provisions of Issuer's restricted unit plan and SEC Rule 16b-3. One third of the phantom units vest on each of the first three anniversaries of the grant date, subject to continuous employment or service of the reporting person from the grant date through the applicable payment date. Upon vesting, phantom units are automatically converted into cash equal to the average of the highest and lowest trading prices of the Issuer's Common Units on the vesting date.
Form 4 Insider Transactions: What Each Field Means →
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*
Brinkworth Douglas
(Last) (First) (Middle)
C/O SUBURBAN PROPANE PARTERS, L.P.
240 ROUTE 10 WEST
(Street)
WHIPPANY NJ 07981
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SUBURBAN PROPANE PARTNERS LP [ SPH ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
SVP- Prod.Sup,Purch.&Logistics
3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025
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 (representing limited partnership interests) 11/14/2025 F(1) 11,998 D $18.83 147,357 D
Common Units (representing limited partnership interests) 11/14/2025 M 23,403 A $18.83 170,760 D
Common Units (representing limited partnership interests) 11/14/2025 D 23,403 D $18.83 147,357 D
Common Units (representing limited partnership interests) 11/15/2025 A 24,112 A $0.0000 171,469 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
Phantom Units (2) 11/15/2025 A 24,112 (2) (2) Common Units 24,112 $0.0000 49,064 D
Phantom Units (2) 11/14/2025 M 23,403 (2) (2) Common Units 23,403 (2) 24,952 D
Explanation of Responses:
1. Represents filer's payment of tax liability in connection with the vesting of previously granted restricted units by means of Issuer's withholding of Common Units in accordance with the provisions of Issuer's restricted unit plan and SEC Rule 16b-3.
2. One third of the phantom units vest on each of the first three anniversaries of the grant date, subject to continuous employment or service of the reporting person from the grant date through the applicable payment date. Upon vesting, phantom units are automatically converted into cash equal to the average of the highest and lowest trading prices of the Issuer's Common Units on the vesting date.
Bryon Koepke, by power of attorney 11/17/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did Suburban Propane Partners LP (SPH) report on this Form 4?

The Form 4 reports equity transactions by an officer of Suburban Propane Partners LP, including tax withholding on vested restricted units, exercises and dispositions of equity awards, and the grant and vesting of phantom units tied to the company’s common units.

How many SPH common units did the insider have withheld for taxes?

The insider had 11,998 common units withheld at a price of $18.83 per unit to satisfy tax liabilities associated with the vesting of restricted units under the issuer’s restricted unit plan.

What are the insider’s SPH common unit holdings after these transactions?

Following the reported transactions on 11/14/2025 and 11/15/2025, the insider directly holds 171,469 common units of Suburban Propane Partners LP.

What phantom unit activity was reported for SPH on this Form 4?

The filing shows the grant of 24,112 phantom units and the exercise of 23,403 phantom units, each linked to an equivalent number of SPH common units, with resulting phantom unit holdings of 49,064 units after the transactions.

How do the SPH phantom units vest and settle for the reporting person?

According to the disclosure, one third of the phantom units vest on each of the first three anniversaries of the grant date, subject to continued service, and upon vesting they convert into cash equal to the average of the highest and lowest trading prices of SPH common units on the vesting date.

What transaction codes were used for the SPH insider transactions?

The reported transactions use SEC transaction codes including F for tax withholding in connection with restricted unit vesting, M for the exercise of derivative securities such as phantom units, and A and D for acquisitions and dispositions of common units.