Westlake Chemical Partners grants 5,044 Phantom Units

Westlake Chemical Partners LP reported that director Lisa A. Friel received a grant of 5,044 Phantom Units on August 12, 2026.

Rhea-AI Filing Summary

Westlake Chemical Partners LP reported that director Lisa A. Friel received a grant of 5,044 Phantom Units on August 12, 2026. The award carries a per-unit price of $0.00 and is classified as a derivative security. Each Phantom Unit is disclosed as the economic equivalent of one Common Unit of Westlake Chemical Partners LP. The Phantom Units relate to an equal number of underlying Common Units and are scheduled with an exercise date of August 12, 2027 and an expiration date of September 12, 2027.

Insider Trade Summary

Grant/Award: 5,044 shares

Grant/Award 1 txn

Insider Friel Lisa A.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Units F1	5,044	$0.00	$0.00

Holdings After Transaction: Phantom Units — 0 contracts (Direct)

Footnotes (1)

1. F1. Each Phantom Unit is the economic equivalent of one Common Unit of the Issuer.

Key Figures

Phantom Units granted: 5,044 Phantom Units Grant price per Phantom Unit: $0.00 per unit Underlying Common Units: 5,044 Common Units +2 more

5 metrics

Phantom Units granted 5,044 Phantom Units Grant to director Lisa A. Friel on August 12, 2026

Grant price per Phantom Unit $0.00 per unit Stated transaction price for Phantom Units award

Underlying Common Units 5,044 Common Units Each Phantom Unit is economic equivalent of one Common Unit

Exercise date August 12, 2027 Exercise date for the Phantom Units award

Expiration date September 12, 2027 Expiration date for the Phantom Units award

Key Terms

Phantom Units, Common Units, economic equivalent, derivative security

4 terms

Phantom Units financial

"The security title is reported as "Phantom Units"."

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."

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."

derivative security financial

"The award is classified as 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Westlake Chemical Partners LP (WLKP) report for Lisa A. Friel?

Westlake Chemical Partners LP reported that Lisa A. Friel received a grant of 5,044 Phantom Units on August 12, 2026. The units are a form of derivative compensation tied to the partnership’s Common Units.

What are the terms of the 5,044 Phantom Units granted at WLKP?

The grant consists of 5,044 Phantom Units at a stated price of $0.00 per unit. Each Phantom Unit is the economic equivalent of one Common Unit, with an exercise date of August 12, 2027 and expiration on September 12, 2027.

How do the Phantom Units granted to the WLKP director relate to Common Units?

Each Phantom Unit granted to the WLKP director is disclosed as the economic equivalent of one Common Unit of Westlake Chemical Partners LP. The award therefore tracks the value of 5,044 Common Units without an immediate issuance of those units.

Was the WLKP Phantom Unit grant to Lisa A. Friel made under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirmative, indicating the transaction is not reported as made under a Rule 10b5-1 trading plan. It is recorded as a grant or award of derivative securities.

What is the reported ownership type for the WLKP Phantom Units grant?

The Phantom Units granted to the WLKP director are reported with direct ownership, coded as "D". The transaction is categorized as a grant, award, or other acquisition of derivative securities rather than a market purchase or sale.

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

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Available on EDGAR 08/13/2026 - 01:09 PM Accepted by SEC EDGAR 08/13/2026 - 01:09 PM Learn about SEC filing dates

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^*

Friel Lisa A.

(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)

X	Director		10% 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)

X	Form 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)
			Code	V	Amount	(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Units	(1)	08/12/2026		A		5,044		08/12/2027	09/12/2027	Common Units	5,044	$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.

	Lisa Friel by J Feng POA	08/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)