Barron Bradley C 4

What Happened

• Bradley C. Barron, a director of Sunoco LP (SUN), was granted 2,436 restricted phantom units on 2026-01-02. The Form 4 reports an acquisition price of $0.00 (no cash paid) and a total reported value of $0 for the grant. This is an award rather than a market purchase or sale.

Key Details

• Transaction date: January 2, 2026; Form 4 filed January 21, 2026 (filed after the typical 2-business-day reporting window).
• Award: 2,436 restricted phantom units (reported as "Acquired" under code A) at $0.00.
• Shares/units owned after transaction: Not specified in the filing.
• Footnote: The units are restricted phantom units under the Sunoco LP 2018 Long Term Incentive Plan; vesting is contingent on continued board service — 60% vest on 01/02/2029 and 40% on 01/02/2031.
• No 10b5-1 plan, tax-withholding sale, or exercise noted.

Context

• Restricted phantom units are a form of equity-linked compensation that typically track the value of partnership units and pay out in units or cash upon vesting; they do not represent an immediate open-market purchase or sale.
• Grants to directors are common compensation practices and do not by themselves indicate a buy or sell signal by the insider. The late filing means the market did not receive this report within the usual short reporting window.