Westlake Chemical Partners director exercises 5,005 units
Westlake Chemical Partners LP director Lisa A. Friel exercised 5,005 Phantom Units, each economically equivalent to one Common Unit, into 5,005 Common Units on August 6, 2026.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Westlake Chemical Partners LP director Lisa A. Friel exercised 5,005 Phantom Units, each economically equivalent to one Common Unit, into 5,005 Common Units on August 6, 2026. She then disposed of 2,502 Common Units to the issuer at $21.35 per unit, leaving 0 Phantom Units from this award.
Insider Trade Summary
5,005 shares exercised/converted
Exercise
3 txns
Insider
Friel Lisa A.
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 | 2,502 | $21.35 | $53K |
Holdings After Transaction:
Phantom Units — 0 contracts (Direct);
Common Units — 9,666 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 Phantom Units
Common Units Acquired via Exercise: 5,005 Common Units
Common Units Disposed to Issuer: 2,502 Common Units
+2 more
5 metrics
Phantom Units Exercised
5,005 Phantom Units
Derivative exercise into Common Units on August 6, 2026
Common Units Acquired via Exercise
5,005 Common Units
Received upon exercise of Phantom Units on August 6, 2026
Common Units Disposed to Issuer
2,502 Common Units
Disposition to issuer on August 6, 2026
Disposition Price
$21.35 per unit
Price for 2,502 Common Units disposed to issuer
Phantom Units Remaining
0 Phantom Units
Total Phantom Units following the derivative exercise
Key Terms
Phantom Units, Common Units, derivative security, Disposition to issuer
4 terms
Phantom Units financial
"Each Phantom Unit is the economic equivalent of one Common Unit of the Issuer."
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
"Each Phantom Unit is the economic equivalent of one Common Unit of the Issuer."
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.
derivative security financial
"Transaction code M reflects an exercise or conversion of a derivative security."
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
Disposition to issuer financial
"Transaction code D is described as a Disposition to issuer."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did WLKP director Lisa A. Friel report?
Lisa A. Friel reported exercising 5,005 Phantom Units into 5,005 Common Units of Westlake Chemical Partners LP (WLKP). On the same date, she disposed of 2,502 Common Units back to the issuer at $21.35 per unit in a disposition-to-issuer transaction.
How many WLKP Phantom Units did Lisa A. Friel exercise and what did she receive?
She exercised 5,005 Phantom Units, each economically equivalent to one Common Unit of WLKP. This exercise converted into 5,005 Common Units, reflecting a derivative-security conversion rather than an open-market purchase, with the Phantom Units balance for this award going to zero afterward.
How many WLKP Common Units did Lisa A. Friel dispose of and at what price?
Friel disposed of 2,502 Common Units of WLKP in a transaction coded as a disposition to the issuer. The reported transaction price was $21.35 per unit, and this event occurred on August 6, 2026 as part of the same reporting sequence.
What are WLKP Phantom Units as reported in this Form 4 filing?
The filing explains that each Phantom Unit is the economic equivalent of one Common Unit of WLKP. They function as a derivative-based compensation instrument, settling in Common Units upon exercise or conversion, rather than being standard exchange-traded partnership units.
Were Lisa A. Friel’s WLKP transactions reported under a Rule 10b5-1 plan?
The Form 4’s Rule 10b5-1 checkbox is not marked as affirmatively adopted, and there is no specific footnote indicating a trading plan. The report therefore does not state that these WLKP transactions were executed pursuant to a Rule 10b5-1 trading arrangement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
