Westlake Chemical Partners (WLKP) awards 5,044 Phantom Units to director
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
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 shares (Direct)
Footnotes (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
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.
