Westlake Chemical Partners (WLKP) Director Finley G. Stephen Exercises Phantom Units

What Happened Finley G. Stephen, a director of Westlake Chemical Partners GP LLC (the general partner of Westlake Chemical Partners LP), reported exercising/converting phantom unit derivatives on 2026-08-06. The filing shows a total of 10,010 phantom units involved: 5,005 units were reported as acquired (converted to common units) and 5,005 units were reported as disposed at $0.00. No cash proceeds are reported for the disposed units.

Key Details

• Transaction date: 2026-08-06; Form 4 filed 2026-08-07 (timely).
• Transaction type/code: Exercise/conversion of derivative (M).
• Quantity: 10,010 phantom units in total — 5,005 acquired, 5,005 disposed.
• Prices: Acquired entry shows N/A; disposed entry shows $0.00 (no cash proceeds reported).
• Shares owned after transaction: Not disclosed on this Form 4.
• Footnote: F1 — each Phantom Unit is the economic equivalent of one Common Unit of the issuer.
• Remark: Mr. Finley is a director of Westlake Chemical Partners GP LLC (the general partner).

Context Phantom units are derivative awards that track the value of common units; this filing documents a conversion/exercise of those derivatives rather than an open-market purchase or sale. The report shows no cash proceeds for the disposed portion, so this should not be interpreted as a market sale — it appears to be an internal conversion/settlement. As always, conversions or awards are administrative transactions and do not alone indicate the insider’s market sentiment.