Westlake Chemical Partners Insider Trims Holding by 17% in Form 4

Rhea-AI Filing Summary

Westlake Chemical Partners LP (WLKP) – Form 4 insider transaction

Director Randy Woelfel reported a matched exercise-and-sale on 8 Aug 2025 covering 4,882 common units:

• Exercise (Code M): 4,882 phantom units converted into an equal number of common units on 7 Aug 2025.
• Sale (Code D): the same 4,882 common units immediately sold at $21.96, generating proceeds of roughly $107 k.

After the transactions, Woelfel’s direct ownership fell from 28,795 to 23,913 common units (≈17% reduction) and no derivative (phantom) units remain outstanding. He also received a separate grant of 5,005 new phantom units on 6 Aug 2025 that will settle in common units one year later.

No 10b5-1 trading plan was indicated, and the filing involves only one reporting person. While the dollar value is modest relative to WLKP’s market capitalization, insider sales can be viewed cautiously by investors, particularly when they reduce ownership levels.

Positive

• None.

Negative

• Director reduced direct holdings by 4,882 units (≈17%) through open-market sale at $21.96.

Insights

Securities Analyst

TL;DR: Small director sale (≈$107 k) lowers stake 17%; signal is mildly negative but not material to WLKP fundamentals.

The matched exercise-and-sale structure suggests Woelfel monetised phantom-unit compensation rather than divesting a strategic position. Post-sale holdings of 23,913 units keep meaningful alignment with unitholders. The $21.96 sale price is near recent trading ranges and does not hint at valuation extremes. Because WLKP’s daily trading value exceeds the sale size, liquidity impact is negligible. Absent other insiders selling or fundamental news, I classify the event as low-impact and slightly negative for sentiment.

SEC Form 4

FORM 4

UNITED 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^*

WOELFEL RANDY

(Last) (First) (Middle)

2801 POST OAK BLVD., STE. 600

(Street)

HOUSTON TX 77056

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Westlake Chemical Partners LP [ WLKP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/06/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Units	08/07/2025		M		4,882	A	(1)	28,795	D
Common Units	08/07/2025		D		4,882	D	$21.96	23,913	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Units	(1)	08/06/2025		A		5,005		08/06/2026	09/06/2026	Common Units	5,005	$0	0	D
Phantom Units	(1)	08/07/2025		M			4,882	08/07/2025	09/07/2025	Common Units	4,882	$0	0	D

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.

	Randy Woelfel by J Feng POA	08/08/2025
	** Signature of Reporting Person	Date
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.

FAQ

How many WLKP units did Director Randy Woelfel sell?

4,882 common units were sold on 07-Aug-2025.

What price did the WLKP insider receive for the units?

The sale price was $21.96 per unit.

What is the director's remaining WLKP ownership after the sale?

Woelfel now directly holds 23,913 common units.

Did the insider use a Rule 10b5-1 trading plan?

The Form 4 does not indicate use of a 10b5-1 plan.

Were any new WLKP phantom units granted?

Yes, 5,005 phantom units were granted on 06-Aug-2025.

Is the sale considered large relative to WLKP's trading volume?

At roughly $107 k, the sale is small compared with WLKP’s typical daily dollar volume.