Ferrellgas Director Edward Newberry Receives Phantom Unit Award

What Happened Edward Newberry, a director of Ferrellgas Partners L.P., was granted 5,782 phantom units on September 23, 2026. The award was recorded at $0.00 per unit (derivative award), so there was no cash payment by Newberry at grant. Phantom units represent rights to future cash payments tied to the Class A unit price rather than immediate equity.

Key Details

• Transaction date: 2026-09-23; filing date: 2026-09-25 (filed within the typical 2‑business‑day Form 4 window).
• Instrument & amount: 5,782 Phantom Units (derivative award) acquired at $0.00.
• Shares/units owned after transaction: not stated in the filing.
• Footnotes:
  • F1: Each Phantom Unit equals the economic equivalent of one Class A Unit.
  • F2: Phantom Units accrue dividend equivalent rights.
  • F3/F4: The award vests on September 23, 2027. Each vested Phantom Unit entitles the holder to a cash payment upon the first to occur of (1) termination of service from the board, (2) a change of control, or (3) the third anniversary of the September 23, 2026 grant date; payout is equal to the average closing price of a Class A Unit for the 10 trading days immediately preceding the payout event, per the Phantom Unit Award Agreement.

Context This is a director compensation grant (an award), not an open‑market purchase or sale. Phantom units are derivative awards that give economic exposure to the unit price and dividend equivalents but do not convey immediate ownership or voting rights. Such grants are routine for non‑employee directors and should be viewed as compensation rather than a direct personal market investment.