Frangou Angeliki 4

What Happened

• Angeliki Frangou, CEO and Chairwoman of Navios Maritime Partners L.P. (NMM) and a reported 10% owner, acquired a total of 3,268 common units in three open‑market transactions between July 23 and July 27, 2026. Reported daily counts: 1,131 (Jul 23), 1,084 (Jul 24), and 1,053 (Jul 27).
• The filing reports weighted average prices of $79.02 (Jul 24) and $77.64 (Jul 27). The Jul 23 line in the filing contains an apparent typographical error (an implausible per‑share figure and an aggregate value in the hundreds of millions). The filing’s footnote clarifies the actual price range for Jul 23 was $73.73–$76.34. Using the footnote ranges, the three purchases imply an approximate cash outlay of roughly $250–$260K (approx. $252K using midrange pricing), with $85.7K and $81.8K confirmed for Jul 24 and Jul 27 respectively.

Key Details

• Transaction dates & reported prices:
  • Jul 23, 2026 — 1,131 shares (filing shows a typographical price; footnote reports per‑share range $73.73–$76.34)
  • Jul 24, 2026 — 1,084 shares @ $79.02 (≈ $85,657)
  • Jul 27, 2026 — 1,053 shares @ $77.64 (≈ $81,750)
• Shares owned after transactions (beneficial ownership in filing):
  • After Jul 23: 4,776,699 common units (3,183,199 via N Shipmanagement; 1,489,115 via three other affiliated entities; 104,385 via Raymar Investments S.A.)
  • After Jul 24: 4,777,783 common units (Raymar balance reported as 105,469)
  • After Jul 27: 4,778,836 common units (Raymar balance reported as 106,522)
• Notable footnotes:
  • Trades were executed under a Rule 10b5‑1 trading plan between Raymar Investments S.A. (an entity affiliated with Ms. Frangou) and UBS Financial Services Inc., adopted Dec 9, 2025 — indicating these were pre‑scheduled plan trades.
  • The filing discloses per‑day price ranges and offers to provide the per‑trade breakdown on request. One line contains an apparent typographical error for Jul 23 pricing/aggregate.
  • Olympos Maritime Ltd. (affiliated) is the General Partner and holds 622,296 general partnership units (~2.1% interest as of Jul 27, 2026).
• Timeliness: Form 4 was filed July 27, 2026 (the filing does not flag lateness; confirm compliance if timing is a material concern).

Context

• These are purchases (acquisitions) executed under a 10b5‑1 plan, which typically means trades were pre‑arranged and do not necessarily reflect new insider views on company prospects. For retail investors, scheduled purchases are informative but less actionable than unscheduled insider buys.