Form 4: Ferrellgas Director Asner Receives Phantom Unit Grant

Ferrellgas Partners L P Director Scott Ian Asner was granted 3,796 phantom units, representing an economic equivalent of Class A Units, vesting in October 2026.

Summary

• Scott Ian Asner, a Director of Ferrellgas Partners L P, acquired 3,796 phantom units.
• Each phantom unit is the economic equivalent of one Class A Unit.
• The phantom units accrue dividend equivalent rights.
• The units are scheduled to vest on October 9, 2026.
• Upon vesting, each unit represents the right to receive a cash payment.
• The cash payment amount will be equal to the average closing price of a Class A Unit for the 10 trading days immediately preceding the first to occur of: termination of service from the Board, a change of control, or October 9, 2028.

Sentiment

Score: 6

Explanation: The grant of phantom units to a director is a routine compensation event that aligns the director's interests with shareholder value creation. It does not reflect company performance or significant strategic shifts, hence a slightly positive but not highly impactful sentiment.

Positives

• Director Scott Ian Asner received 3,796 phantom units, aligning his interests with shareholders.
• The phantom units accrue dividend equivalent rights, providing ongoing benefits.
• The vesting schedule and payment triggers incentivize continued service and performance.

Risks

• The value of the phantom units is tied to the Class A Unit price, exposing the director to market fluctuations.
• Payment is contingent on specific events (termination of service, change of control, or October 9, 2028), introducing timing uncertainty for the director.

Future Outlook

The phantom units are set to vest on October 9, 2026, with a cash payment tied to the Class A Unit price upon the earliest of the director's service termination, a change of control, or October 9, 2028.

Industry Context

This grant of phantom units to a director is a common form of long-term incentive compensation in publicly traded companies, designed to align the interests of directors with those of shareholders by tying a portion of their compensation to the company's equity performance.

Related Party Transactions

• The grant of 3,796 phantom units to Director Scott Ian Asner constitutes a related party transaction as it involves compensation provided by the issuer to a member of its Board of Directors.

Stakeholder Impact

• Shareholders: The grant aligns the director's financial interests with the long-term performance of the company's Class A Units, potentially encouraging decisions that enhance shareholder value.

Next Steps

• The phantom units will vest on October 9, 2026.
• A cash payment for vested units will occur upon the earliest of the director's service termination, a change of control, or October 9, 2028.

Key Dates

Keywords

Ferrellgas Partners, Scott Ian Asner, Form 4, Phantom Units, Director Compensation, Insider Transaction, Equity Grant, Class A Units, Executive Compensation