Ferrellgas Director Scott Asner Receives 5,782 Phantom Units

What Happened

• Scott Asner, a member of the Board of Directors of Ferrellgas Partners L P, received an award of 5,782 phantom units on 2026-09-23. The Form 4 records the grant as a derivative award at $0.00 per unit (no immediate cash paid).
• These are "Phantom Units" (derivative awards) that track the economic value of one Class A Unit each; they do not immediately transfer equity but give the right to a future cash payment based on the Class A Unit price when paid out.

Key Details

• Transaction date: 2026-09-23; filing date: 2026-09-25 (filed promptly).
• Grant type/code: A (award/grant) — 5,782 Phantom Units; price at grant reported $0.00.
• Shares/units owned after transaction: not disclosed in the filing.
• Footnotes (summary):
  • F1: Each Phantom Unit equals the economic equivalent of one Class A Unit.
  • F2: Phantom Units accrue dividend equivalent rights.
  • F3/F4: The units vest on September 23, 2027. Each vested Phantom Unit entitles the holder to a cash payment following the first to occur of (1) termination of Board service, (2) a change of control, or (3) the third anniversary of the September 23, 2026 grant date. The payout amount equals the average closing price of a Class A Unit for the 10 trading days immediately preceding that triggering event, subject to the award agreement.

Context

• This is a compensation award (cash‑settled phantom units), not a market purchase or sale. It creates potential future cash exposure tied to the company’s Class A Unit price if and when units vest and payout conditions occur.
• Such awards are common for directors as compensation and do not by themselves signal insider buying or selling.