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Westlake Chemical Partners (WLKP) awards director 5,044 phantom units tied to Common Units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Westlake Chemical Partners LP reported that director Finley G. Stephen received a grant of 5,044 Phantom Units on August 12, 2026. These Phantom Units are derivatives that are the economic equivalent of 5,044 Common Units of the partnership. The award has an exercise date of August 12, 2027 and an expiration date of September 12, 2027, and was granted at a stated price of $0.00 per unit, reflecting compensation rather than a market purchase.

Positive

  • None.

Negative

  • None.
Insider FINLEY G STEPHEN
Role Director
Type Security Shares Price Value
Grant/Award Phantom Units F1 5,044 $0.00 $0.00
Holdings After Transaction: Phantom Units — 0 shares (Direct)
Footnotes (1)
  1. F1. Each Phantom Unit is the economic equivalent of one Common Unit of the Issuer.
Phantom Units granted 5,044 Phantom Units Derivative award to director on August 12, 2026
Underlying Common Units 5,044 Common Units Each Phantom Unit equals one Common Unit economically
Grant price per unit $0.00 per Phantom Unit Reported transaction price for the Phantom Unit award
Exercise date August 12, 2027 Exercise date for the Phantom Unit award
Expiration date September 12, 2027 Expiration date for the Phantom Unit award
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.
economic equivalent financial
"Each Phantom Unit is the economic equivalent of one Common Unit of the Issuer."

FAQ

What insider transaction did WLKP report for Finley G. Stephen?
Westlake Chemical Partners LP reported that Finley G. Stephen received a grant of 5,044 Phantom Units on August 12, 2026, as a derivative award linked to the partnership’s Common Units.

How many Phantom Units were granted in the latest WLKP Form 4?
The filing shows a grant of 5,044 Phantom Units. Each Phantom Unit is the economic equivalent of one Common Unit, so the award corresponds to 5,044 Common Units in value terms.

What are the key dates for the WLKP Phantom Unit award to Finley G. Stephen?
The Phantom Units were granted on August 12, 2026, with an exercise date of August 12, 2027 and an expiration date of September 12, 2027, defining the period in which value realization may occur.

What does the WLKP Form 4 say about the value of the Phantom Units granted?
The transaction reports a price of $0.00 per Phantom Unit, indicating the award was granted as compensation rather than purchased in the open market for cash consideration.

Was the WLKP Phantom Unit grant made under a Rule 10b5-1 trading plan?
The document-level checkbox indicates no Rule 10b5-1 trading plan for this report, meaning the grant is not characterized there as being made under a pre-arranged trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
FINLEY G STEPHEN
(Last)(First)(Middle)
2801 POST OAK BLVD., STE. 600
(Street)
HOUSTON TEXAS 77056
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Westlake Chemical Partners LP [ WLKP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/12/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Units(1)08/12/2026A5,04408/12/202709/12/2027Common Units5,044$00D
Explanation of Responses:
1. Each Phantom Unit is the economic equivalent of one Common Unit of the Issuer.
Remarks:
Mr. Woelfel is a Director of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP.
G. Stephen Finley by J Feng POA08/13/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR