Finley converts 5,005 phantom units, Westlake Chemical Partners LP (NYSE: WLKP)
Rhea-AI Filing Summary
Stephen G. Finley, a director of Westlake Chemical Partners GP LLC, exercised 5,005 phantom units, each economically equivalent to one common unit, into 5,005 Westlake Chemical Partners LP common units on August 6, 2026. Following this conversion, he directly held 36,935 common units.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 5,005 shares
Net Buy
2 txns
Insider
FINLEY G STEPHEN
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Units F1 | 5,005 | $0.00 | $0.00 |
| Exercise | Common Units F1 | 5,005 | -- | -- |
Holdings After Transaction:
Phantom Units — 0 shares (Direct);
Common Units — 36,935 shares (Direct)
Footnotes (1)
- F1. Each Phantom Unit is the economic equivalent of one Common Unit of the Issuer.
Key Figures
Phantom units converted: 5,005 units
Common units acquired: 5,005 units
Common units held after: 36,935 units
3 metrics
Phantom units converted
5,005 units
Derivative exercise on 2026-08-06
Common units acquired
5,005 units
Issued upon conversion of phantom units
Common units held after
36,935 units
Direct ownership following reported transactions
Key Terms
Phantom Units, economic equivalent, derivative security
3 terms
Phantom Units financial
"Security title "Phantom Units"; each phantom unit is the economic equivalent..."
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.
economic equivalent financial
"Each Phantom Unit is the economic equivalent of one Common Unit of the Issuer."
derivative security financial
"Transaction code description "Exercise or conversion of 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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Westlake Chemical Partners (WLKP) director Stephen G. Finley report in this Form 4?
Director Stephen G. Finley reported exercising 5,005 phantom units, which are economically equivalent to common units, into 5,005 common units of Westlake Chemical Partners LP on August 6, 2026, increasing his direct holdings to 36,935 common units.
How many Westlake Chemical Partners (WLKP) phantom units were converted and into what security?
Finley converted 5,005 phantom units into 5,005 common units. A footnote states that each phantom unit is the economic equivalent of one common unit, so the derivative position was fully transformed into an equal number of common units.
What is Stephen G. Finley’s direct common unit ownership in WLKP after the reported transactions?
After the reported conversion, Finley directly owns 36,935 common units of Westlake Chemical Partners LP. This figure reflects his position immediately following the exercise of 5,005 phantom units into an equal number of common units on August 6, 2026.
Were the WLKP transactions by Stephen G. Finley made under a Rule 10b5-1 trading plan?
The filing indicates the Rule 10b5-1 checkbox is not marked, and document-level data shows no 10b5-1 plan affirmation. The reported exercise and resulting acquisition of common units therefore are not identified as occurring under a pre-arranged trading plan.
What type of securities did Stephen G. Finley hold and exercise in Westlake Chemical Partners (WLKP)?
Finley held phantom units, classified as a derivative security. On August 6, 2026, he exercised these phantom units, which are the economic equivalent of common units, resulting in the acquisition of 5,005 WLKP common units.