Safran Andrew 4

What Happened Andrew Safran, a director of Ferrellgas Partners L P, received a grant of 1,019 phantom units (derivative award) on 2026-06-01. The Form 4 reports the units at $0.00 (no cash paid at grant). These are not actual Class A Units today but represent the economic equivalent and the right to receive a cash payment if and when the phantom units vest and are settled.

Key Details

• Transaction date: 2026-06-01; Form 4 filed 2026-06-03 (appears timely within the usual two-business-day reporting window).
• Transaction type/code: A — Award/Grant of derivative securities (phantom units).
• Quantity and price: 1,019 phantom units @ $0.00 (no cash exchanged at grant).
• Shares/units owned after transaction: Not reported in this filing.
• Notable terms: units accrue dividend-equivalent rights and vest on October 9, 2026. Once vested, each phantom unit entitles the holder to a cash payment upon the earlier of (1) termination of Board service, (2) a change of control, or (3) October 9, 2028, equal to the 10-day average closing price of a Class A Unit prior to the triggering event (subject to the Phantom Unit Award Agreement).

Context Phantom units are a form of deferred cash compensation tied to the company unit price — they do not convey immediate ownership or voting rights. This grant is an award (neutral signal) rather than a purchase or sale; it’s common compensation for non-employee directors. The filing shows standard vesting and settlement terms; no sale or immediate conversion was reported.