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Westlake Chemical Partners (WLKP) director receives 5,044 phantom unit award

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

Rhea-AI Filing Summary

Westlake Chemical Partners LP reported that director Randy Woelfel received a grant of 5,044 Phantom Units on August 12, 2026. Each Phantom Unit is the economic equivalent of one Common Unit of the partnership. These derivative awards carry an exercise date of August 12, 2027 and an expiration date of September 12, 2027.

Positive

  • None.

Negative

  • None.
Insider WOELFEL RANDY
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 Grant of derivative Phantom Units on August 12, 2026
Underlying Common Units 5,044 Common Units Each Phantom Unit is the economic equivalent of one Common Unit
Transaction price per unit $0.00 Reported price per Phantom Unit for the grant
Exercise date August 12, 2027 Exercise date for the Phantom Units
Expiration date September 12, 2027 Expiration date for the Phantom Units
Phantom Units financial
"The grant covers 5,044 Phantom Units as a derivative award."
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."
Common Units financial
"Each Phantom Unit is the economic equivalent of one Common Unit."
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.

FAQ

What insider transaction did WLKP director Randy Woelfel report?
Randy Woelfel reported a grant of 5,044 Phantom Units of Westlake Chemical Partners LP. The award was made on August 12, 2026 as a derivative security tied economically to the company’s Common Units.

What are the key terms of the Phantom Units granted at WLKP?
The grant covers 5,044 Phantom Units, each equal economically to one Common Unit. The units have an exercise date of August 12, 2027 and an expiration date of September 12, 2027, according to the reported data.

Did the WLKP Phantom Unit grant to Randy Woelfel involve any cash price?
The reported transaction price per unit is $0.00, indicating this was a compensation-related award rather than a market purchase. The filing classifies the transaction as a grant or award acquisition of derivative securities.

How many WLKP Common Units underlie Randy Woelfel’s Phantom Units?
The 5,044 Phantom Units are linked to 5,044 underlying Common Units of Westlake Chemical Partners LP. A footnote states that each Phantom Unit is the economic equivalent of one Common Unit of the issuer.

Was the WLKP Phantom Unit award made under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not marked as affirmative, so the reported Phantom Unit grant is not indicated as being made pursuant to a Rule 10b5-1 trading plan in this report.

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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*
WOELFEL RANDY
(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.
Randy Woelfel 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