MINAMI W D 4

What Happened

• Director W.D. Minami reported two transactions on 2026-04-01. He made an open-market purchase of 2,000 shares at $100.00 each (total cost $200,000) and was granted 250 restricted limited partnership units (RLPUs) as compensation (reported at $0.00).
• The 250 RLPUs are a compensation award that fully vests on April 1, 2027. The open-market purchase is a straightforward buy (often interpreted as a more informative, bullish signal than a sale); the award is compensation, not a market purchase.

Key Details

• Transaction dates and prices: 2026-04-01 — Purchase (P): 2,000 shares @ $100.00 ($200,000); Award/Grant (A): 250 RLPUs @ $0.00.
• Shares owned after transaction: Not specified in the provided filing excerpt. The filing notes that reported holdings include unvested RLPUs (see footnote F2).
• Footnotes: F1 — 250 RLPUs granted as board compensation; fully vests 4/1/2027. F2 — reported holdings include unvested RLPUs.
• Filing timeliness: Transactions dated 2026-04-01 were reported on Form 4 filed 2026-04-02 (timely filing).

Context

• The award is a common form of director compensation and will vest over a year; it does not represent an open-market purchase. The 2,000-share open-market buy is a direct purchase by the director and may be of interest to investors tracking insider buying activity.