Energy Transfer (ET) Director Kelcy L. Warren Buys 1,000,000 Units

What Happened Kelcy L. Warren, a director of Energy Transfer LP (ET), purchased a total of 1,000,000 common units in two reported transactions. On 2026-08-18 he acquired 352,032 units at a weighted average price of $21.27 (total ~$7,487,721). On 2026-08-19 he acquired 647,968 units at a weighted average price of $21.26 (total ~$13,775,800). Combined, the purchases totaled 1,000,000 units for approximately $21,263,521. These were reported as purchases (P), which are generally viewed as insider buys rather than sales.

Key Details

• Transaction dates and prices:
  • 2026-08-18: 352,032 units at $21.27 (weighted avg); total ~$7,487,721. (Footnote F1: purchases occurred at prices ranging $21.175–$21.30.)
  • 2026-08-19: 647,968 units at $21.26 (weighted avg); total ~$13,775,800. (Footnote F3: purchases occurred at prices ranging $21.185–$21.30.)
• Total acquired: 1,000,000 units for ~$21,263,521.
• Shares owned after transaction: Not specified in the provided filing.
• Ownership/beneficial interest notes: Reported units are held through multiple entities controlled by Mr. Warren (Kelcy Warren Partners LP, Kelcy Warren Partners II LP, Warren Capital Corp., ET Company Ltd., LE GP, LLC, Kelcy Warren Partners III, LLC — footnotes F2, F4–F8). Mr. Warren disclaims beneficial ownership except to the extent of his pecuniary interest in those entities.
• Filing timing: Reported on Form 4 filed 2026-08-20 covering trades on Aug 18–19; filing appears timely.

Context These entries are straightforward purchases (no options exercise, awards, or gifts). The footnotes note weighted-average pricing across multiple transactions and commit to provide a breakdown of prices upon request to the company, shareholders, or the SEC staff. As with all insider filings, purchases indicate the insider added to positions but do not, by themselves, explain motivation.