Westlake Chemical Partners exercises and disposes 5,005 units
Westlake Chemical Partners LP director Randy Woelfel exercised 5,005 Phantom Units into 5,005 Common Units on August 6, 2026, then disposed 5,005 Common Units back to the issuer at $21.35 per unit.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Westlake Chemical Partners LP director Randy Woelfel exercised 5,005 Phantom Units into 5,005 Common Units on August 6, 2026, then disposed 5,005 Common Units back to the issuer at $21.35 per unit. Each Phantom Unit is economically equivalent to one Common Unit.
Insider Trade Summary
5,005 shares exercised/converted
Exercise
3 txns
Insider
WOELFEL RANDY
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Units F1 | 5,005 | $0.00 | $0.00 |
| Exercise | Common Units F1 | 5,005 | -- | -- |
| Disposition | Common Units | 5,005 | $21.35 | $107K |
Holdings After Transaction:
Phantom Units — 0 contracts (Direct);
Common Units — 23,913 shares (Direct)
Footnotes (1)
- F1. Each Phantom Unit is the economic equivalent of one Common Unit of the Issuer.
Key Figures
Phantom Units exercised: 5,005 units
Common Units acquired via exercise: 5,005 units
Common Units disposed to issuer: 5,005 units
+3 more
6 metrics
Phantom Units exercised
5,005 units
Derivative Phantom Units converted into Common Units on August 6, 2026
Common Units acquired via exercise
5,005 units
Common Units received upon exercise of Phantom Units on August 6, 2026
Common Units disposed to issuer
5,005 units
Disposition to issuer at $21.35 per unit on August 6, 2026
Disposition price per Common Unit
$21.35 per unit
Price for 5,005 Common Units disposed to issuer
Phantom Units remaining after exercise
0 units
Total Phantom Units following transaction reported as 0.0000
Phantom Unit expiration date
2026-09-06
Expiration date of Phantom Units that were exercised on August 6, 2026
Key Terms
Phantom Units, Common Units, Disposition to issuer, Rule 10b5-1 trading plan
4 terms
Phantom Units financial
"The reported derivative security consists of Phantom Units economically tied to Common Units."
Phantom units are a form of employee compensation that mimics ownership in a company without issuing real shares: recipients receive cash or stock value tied to the company’s share price or performance when the units vest. They matter to investors because phantom units align employee incentives with shareholder value while avoiding share dilution; however, they create future cash obligations and can affect a company’s financial statements and cash flow.
Common Units financial
"The exercise converted Phantom Units into Common Units of Westlake Chemical Partners LP."
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
Disposition to issuer financial
"A D-coded transaction reflects a disposition to issuer of Common Units."
Rule 10b5-1 trading plan regulatory
"The 10b5-1 checkbox is not marked, so no trading plan is designated."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did WLKP director Randy Woelfel report?
Randy Woelfel reported exercising 5,005 Phantom Units into 5,005 Common Units and then disposing 5,005 Common Units back to Westlake Chemical Partners LP at $21.35 per unit on August 6, 2026, leaving no reported Phantom Units outstanding.
How many WLKP Phantom Units were converted and into what security?
Woelfel converted 5,005 Phantom Units into 5,005 Common Units. A footnote states each Phantom Unit is the economic equivalent of one Common Unit of Westlake Chemical Partners LP, so the exercise produced an equal number of Common Units before the subsequent disposition.
At what price were WLKP Common Units disposed in this Form 4?
The 5,005 Common Units were disposed to the issuer at $21.35 per unit. The transaction is coded as a disposition to issuer, indicating the units were transferred back to Westlake Chemical Partners LP rather than sold in the open market.
Were Randy Woelfel’s WLKP transactions under a Rule 10b5-1 plan?
The Form 4’s Rule 10b5-1 checkbox is not marked, indicating these transactions are not designated as occurring under a Rule 10b5-1 trading plan, based on the document-level indicator provided for the August 6, 2026 activity.
What happened to Randy Woelfel’s WLKP Phantom Units after the transactions?
After exercising 5,005 Phantom Units, the reported Phantom Unit holdings are 0. This reflects that all Phantom Units covered in this filing were converted into Common Units, which were then disposed to the issuer on the same date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
