Welcome to our dedicated page for Suburban Propane Partners SEC filings (Ticker: SPH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Suburban Propane Partners, L.P. (NYSE: SPH) SEC filings page provides access to the partnership’s official regulatory disclosures filed with the U.S. Securities and Exchange Commission. Suburban Propane is a publicly traded master limited partnership that describes itself as a nationwide distributor of propane, renewable propane, renewable natural gas (RNG), fuel oil and related products and services, as well as a marketer of natural gas and electricity and a producer of and investor in low carbon fuel alternatives.
Through this page, readers can review key filings such as Annual Reports on Form 10‑K, which include detailed information on the company’s operations, risk factors, and financial statements, and Current Reports on Form 8‑K, which Suburban Propane uses to report material events. Recent 8‑K filings have covered topics such as fiscal year and quarterly financial results, distribution declarations, conference call announcements, and financing transactions, including the pricing and completion of a private offering of 6.500% senior notes due 2035 and related plans to redeem outstanding senior notes due 2027.
Filings also describe Suburban Propane’s use of non‑GAAP financial measures like EBITDA and Adjusted EBITDA, and explain how the partnership views gross margin as revenues less cost of products sold. Risk-related disclosures discuss factors that may affect the business, including weather conditions, climate and regulatory developments, commodity price volatility, competition with other energy sources, renewable fuel project performance and environmental attribute markets, among others.
On Stock Titan, these SEC documents are complemented by AI-powered summaries designed to highlight the main points of lengthy filings such as 10‑K and 10‑Q reports, as well as significant 8‑K items. Users can quickly see the context of new debt offerings, distribution announcements, or changes in leverage and capital projects, while still having direct access to the full text on EDGAR. The page also helps track items relevant to governance and capital structure, including debt covenants and other obligations described in indentures filed as exhibits.
Suburban Propane Partners, L.P. (SPH) is a Delaware master limited partnership and nationwide energy marketer. It focuses on distributing propane, renewable propane, RNG, fuel oil and refined fuels, and marketing natural gas and electricity in deregulated markets. As of March 28, 2025, non‑affiliate Common Units had an aggregate market value of about $1.38 billion, and as of November 24, 2025 there were 66,157,310 Common Units outstanding.
The partnership believes it is the third‑largest U.S. retail propane marketer by 2024 retail gallons. For the year ended September 27, 2025, it served roughly 1.0 million customers from about 750 locations in 42 states, selling approximately 400.5 million gallons of propane and 16.5 million gallons of fuel oil and refined fuels. Operations are managed in propane, fuel oil and refined fuels, natural gas and electricity, and other services.
Suburban’s strategy is built around three pillars—Go Green with Suburban Propane, SuburbanCares and Suburban Commitment to Excellence. It is investing in renewable energy platforms, including RNG facilities and equity stakes in Independence Hydrogen and Oberon Fuels, while emphasizing operating efficiency, selective acquisitions and non‑strategic asset sales. The filing outlines extensive risk factors including weather, commodity price volatility, regulation, debt obligations and evolving climate and environmental policies.
Suburban Propane Partners, L.P. (SPH) reported an insider transaction by a director. On 11/19/2025, the reporting person disposed of 5,000 common units representing limited partnership interests in an open market-style transaction coded as a sale. The units were sold at a price of $18.51 per unit. After this transaction, the director beneficially owns 26,727 common units, held directly.
SPH reported a planned sale of common stock under a Form 144 notice. The insider intends to sell 5,000 common shares through Morgan Stanley Smith Barney LLC Executive Financial Services on the NYSE, with an aggregate market value of $92,562.50 and 65,473,322 shares outstanding for the class. The shares were acquired from the issuer on 11/15/2025 as compensation for past services, with the consideration described as services rendered, and the intended sale date is around 11/19/2025.
Suburban Propane Partners (SPH) reported a Form 4 filing for a director involving common units and phantom units on 11/14/2025. The director had transactions in 2,354 common units at a price of $18.83 per unit and held 64,549 common units beneficially following the reported activity, in direct ownership form. The filing also shows activity in 2,354 phantom units linked to common units, with 4,706 phantom units beneficially owned afterward.
According to the disclosure, one third of the phantom units vest on each of the first three anniversaries of the grant date, as long as the director’s employment or service continues through the applicable payment date. When these phantom units vest, they are automatically converted into cash based on the average of the highest and lowest trading prices of the issuer’s common units on the vesting date.
Suburban Propane Partners (SPH) reported insider activity by its VP, Tax, on a Form 4. On 11/14/2025, the officer exercised 5,850 phantom units into the same number of common units at $18.83 per unit, then disposed of 5,850 common units at the same price, ending that day with 29,444 common units held directly. On 11/15/2025, the officer acquired an additional 8,038 common units at $0.0000, bringing the direct holding to 37,482 common units.
In the derivative table, 5,850 phantom units were settled on 11/14/2025, leaving 6,890 phantom units, and a new award of 8,038 phantom units was granted on 11/15/2025 at $0.0000, for a total of 14,928 phantom units held. According to the terms, one third of the phantom units vest on each of the first three anniversaries of the grant date, and upon vesting they are automatically converted into cash based on the issuer’s unit trading prices on the vesting date.
Suburban Propane Partners LP (SPH) reported insider equity activity for its SVP, Operations on a Form 4. On 11/14/2025, the officer satisfied tax obligations related to vesting restricted units through the issuer’s withholding of 7,962 Common Units at $18.83 per unit. On 11/15/2025, the officer acquired 18,754 Common Units at a stated price of $0.0000, reflecting equity compensation rather than an open-market purchase, resulting in 69,587 Common Units held directly afterward. The filing also shows 18,754 phantom units, which convert into cash upon vesting based on the average of the highest and lowest trading prices of the common units on each vesting date, with one third of the phantom units vesting on each of the first three anniversaries of the grant date.
Suburban Propane Partners LP (SPH) reported insider equity activity by its VP-Renewable Nat Gas Operations. On 11/14/2025, the officer had 3,587 common units withheld at $18.83 per unit to cover taxes tied to vesting of previously granted restricted units, and related movements of 6,951 common units at the same price. On 11/15/2025, the officer acquired 8,038 common units at a price of $0.0000, reflecting vesting rather than a market purchase. After these transactions, the officer directly held 24,949 common units. In the derivative account, phantom units tied to common units changed, leaving 15,417 phantom units beneficially owned, which pay cash based on the trading price when they vest.
Suburban Propane Partners LP (SPH) reported insider equity transactions by its VP of Marketing & Brand Strategy on 11/14/2025 and 11/15/2025. The filing shows multiple movements in Common Units representing limited partnership interests at a transaction price of $18.83, including 4,807 units disposed of to cover tax obligations and 9,460 units acquired and then disposed of on the same date. After these transactions, the reporting person directly held 55,375 Common Units.
On the following day, the insider acquired an additional 10,717 Common Units at a stated price of $0.0000, increasing direct beneficial ownership to 66,092 Common Units. In Table II, the insider exercised and received derivative awards in the form of phantom units tied to Common Units: 9,460 phantom units were exercised on 11/14/2025, and 10,717 phantom units were granted on 11/15/2025, resulting in 21,316 phantom units held after the reported transactions.
Suburban Propane Partners (SPH) reported insider equity transactions by its VP-Controller & Chief Accounting Officer. On 11/14/2025, the officer had 5,082 common units withheld at $18.83 per unit to cover taxes upon vesting of restricted units, reducing the holding to 66,853 common units. The same day, 9,867 phantom units were exercised into 9,867 common units, followed by a disposition of those 9,867 common units at $18.83, keeping the total at 66,853 common units. On 11/15/2025, 10,717 common units were acquired at $0.0000, increasing direct ownership to 77,570 common units. The officer also reported 21,316 phantom units, which vest in three annual installments and are settled in cash based on the trading price of SPH common units on each vesting date.
Suburban Propane Partners LP (SPH) reported insider equity activity by a vice president for operational support. On November 14, 2025, the officer satisfied tax obligations tied to previously granted restricted units by allowing the issuer to withhold 4,807 common units at $18.83 per unit. That same day, 9,460 common units were acquired through the exercise of derivative awards at $18.83 and then disposed of in a separate transaction for the same price.
On November 15, 2025, the officer received 10,717 common units at a stated price of $0.0000, increasing direct ownership to 86,599 common units. In addition, the officer reported derivative holdings of 21,316 phantom units, which vest in three equal annual installments and convert into cash based on the average of the highest and lowest trading prices of SPH common units on each vesting date.