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.
Suburban Propane Partners, L.P. filings document material events for a publicly traded master limited partnership with Common Units listed on the New York Stock Exchange. Recent 8-K reports furnish quarterly results, distribution declarations, conference-call notices, Regulation FD disclosures and other events tied to its propane, fuel oil, refined fuels, natural gas and electricity businesses.
The filings include non-GAAP operating measures such as EBITDA, Adjusted EBITDA and gross margin, with discussion of commodity costs, retail sales prices and derivative mark-to-market activity. Capital-structure disclosures cover the partnership's Common Units, revolving credit borrowings, senior notes indentures and related covenants, while distribution notices address partnership tax withholding treatment for foreign unitholders.
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.
Suburban Propane Partners (SPH) Chief Financial Officer, reporting on Form 4, disclosed several transactions in Common Units and phantom units. On 11/14/2025, 11,998 Common Units were withheld at $18.83 per unit to cover tax obligations tied to vesting of previously granted restricted units, leaving 174,070 Common Units directly owned afterward. The same day, 23,403 units were acquired through a transaction coded “M” at $18.83 and an equal number of units were disposed of at that price.
On 11/15/2025, 24,112 Common Units were acquired at $0.0000 per unit, increasing direct ownership to 198,182 Common Units. Related derivative holdings show phantom units: 23,403 units involved in a transaction on 11/14/2025 and 24,112 additional phantom units on 11/15/2025, bringing phantom unit holdings to 49,064. The phantom units vest in three 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, subject to continued service.
Suburban Propane Partners LP (SPH) President & CEO, who is also a director, reported several equity transactions in Common Units and phantom units. On 11/14/2025, the reporting person satisfied tax withholding related to vesting of previously granted restricted units through the issuer’s withholding of 22,442 Common Units, and also exercised and disposed of units at a price of $18.83 per unit. On 11/15/2025, the reporting person acquired 48,224 Common Units at a stated price of $0.0000. After these transactions, the reporting person directly beneficially owned 336,981 Common Units and 31,290 phantom units, which vest in thirds on each of the first three anniversaries of the grant date and convert into cash based on the trading price of the issuer’s Common Units upon vesting.
Suburban Propane Partners LP (SPH) reported an insider equity transaction by a director on 11/14/2025. The filing shows the exercise of derivative-based phantom units into 2,354 common units at $18.83 per unit, followed by a disposition of the same 2,354 common units at the same price. After these transactions, the reporting person directly beneficially owned 31,727 common units and 4,706 phantom units. The phantom units vest in three equal annual installments and, upon vesting, are automatically settled in cash based on the average of the highest and lowest trading prices of SPH common units on the vesting date.
Suburban Propane Partners LP (SPH) director transaction reported
A director of Suburban Propane Partners LP reported activity in common units and related phantom units on 11/14/2025. The reporting person exercised 2,354 phantom units, which converted into the same number of common units at a price of $18.83 per unit. On the same date, the director disposed of 2,354 common units at $18.83 per unit, indicating a matched exercise and sale.
Following these transactions, the director beneficially owned 39,120 common units directly and held 4,706 phantom units. The phantom units vest in three equal annual installments from the grant date and, upon vesting, are automatically settled in cash based on the average of the highest and lowest trading prices of Suburban Propane’s common units on the vesting date.
Suburban Propane Partners LP (SPH) reported an insider transaction by a director on 11/14/2025. The director exercised 2,354 phantom units into common units representing limited partnership interests at a price of $18.83 per unit and then disposed of 2,354 common units at the same price. After these transactions, the director directly beneficially owned 36,809 common units and held 4,706 phantom units as derivative securities. The phantom units vest in three equal annual installments, and upon vesting are settled in cash based on the average of the highest and lowest trading prices of SPH common units on the vesting date.
Suburban Propane Partners LP (SPH) reported a Form 4 for a director showing activity in common units and phantom units on 11/14/2025. The director acquired 2,354 common units (representing limited partnership interests) in a transaction coded "M" at a price of $18.83 per unit, then disposed of 2,354 common units in a separate transaction coded "D" at the same $18.83 price. Following these transactions, the director directly beneficially owned 74,195 common units. In addition, 2,354 phantom units were involved in a derivative transaction coded "M," leaving 4,706 phantom units beneficially owned. The phantom units vest in three equal annual installments from the grant date and are settled in cash based on the average of the highest and lowest trading prices of the issuer's common units on each vesting date.
Suburban Propane Partners, L.P. director transaction: A reporting person serving as a director of SUBURBAN PROPANE PARTNERS LP (SPH) reported equity transactions dated 11/14/2025. The individual exercised 3,138 phantom units into common units at a price of $18.83 per unit and then disposed of 3,138 common units at the same price. After these transactions, the director beneficially owned 73,176 common units directly and 6,276 phantom units.
The phantom units vest in three equal installments on each of the first three anniversaries of the grant date, subject to continued service. Upon vesting, each phantom unit is settled in cash based on the average of the highest and lowest trading prices of SPH common units on the vesting date.
Suburban Propane Partners, L.P. (SPH) furnished an 8-K announcing its Fiscal 2025 full year and fourth quarter results via press release. The company highlights non-GAAP metrics, including EBITDA and Adjusted EBITDA, and discusses gross margin (revenues less cost of products sold, excluding depreciation and amortization). The detailed calculations and reconciliations are provided in Exhibit 99.1. The information is furnished and not deemed filed under the Exchange Act.
Suburban Propane Partners, L.P. furnished a press release announcing its Fiscal 2025 fourth quarter distribution declaration. The announcement was made on October 23, 2025 and the press release was provided as Exhibit 99.1. The partnership’s common units trade on the NYSE under the symbol SPH.