Westlake Chemical Partners (WLKP) Form 4/A Corrects Omitted 320-Unit Purchase
Rhea-AI Filing Summary
Jean-Marc Gilson, President, CEO and Director of Westlake Chemical Partners LP (WLKP), amended a prior Form 4 to disclose an additional insider purchase. The amendment reports that 320 common units were purchased on 08/28/2024 at a price of $22.95 per unit, bringing the reporting persons beneficial ownership to 3,427 common units. The amendment states the 320 units were inadvertently omitted from the original Form 4 filed for the same date.
The Form 4/A is signed by a power of attorney on 08/28/2025 and clarifies that this filing supplements, rather than replaces, the original disclosure.
Positive
- Amendment corrects disclosure by reporting an omitted purchase of 320 common units, improving transparency
- Insider purchase disclosed: 320 common units acquired on 08/28/2024 at $22.95, now totaling 3,427 units
Negative
- Initial omission of 320 units from the original Form 4 indicates an error in prior reporting
- Amendment filed one year later (original transaction 08/28/2024; amendment dated/signature 08/28/2025), showing a delayed correction
Insights
TL;DR: Amendment corrects an omitted insider purchase of 320 units at $22.95, a minor disclosure adjustment with limited market impact.
The amendment documents a retrospective correction: 320 common units were acquired on 08/28/2024 at $22.95, increasing the reporting persons disclosed holdings to 3,427 units. As presented, the transaction size is small relative to typical LP market capitalizations and this filing is corrective in nature rather than announcing a new material transaction.
TL;DR: Timely transparency matters; the Form 4/A restores accurate insider reporting but reflects an initial disclosure omission.
The document transparently amends the original Form 4 to include 320 units omitted from the initial filing. The signature by a power of attorney on 08/28/2025 formally certifies the correction. The filing addresses compliance with Section 16 reporting requirements by supplementing prior disclosure.