Ferrellgas Partners Director Andrew Safran Receives Phantom Unit Award

What Happened Andrew Safran, a director of Ferrellgas Partners L.P., received a grant of 5,782 phantom units on September 23, 2026. The reported acquisition price is $0.00 and the filing lists this as a derivative award (code A). The award has no immediate cash value; it represents a future cash right tied to the Company’s Class A Unit price.

Key Details

• Transaction date: 2026-09-23; Filing date: 2026-09-25 (appears timely; Form 4 is typically due within two business days).
• Amount granted: 5,782 Phantom Units; reported acquisition price: $0.00; immediate reported value: $0 (derivative).
• Vesting/payment: Vests on September 23, 2027 (F3). Each vested Phantom Unit entitles the holder to a cash payment triggered by the first to occur of (1) termination of service from the Board, (2) a change of control, or (3) the third anniversary of the grant date (Sept 23, 2029). Payment is equal to the 10‑day average closing price of a Class A Unit immediately preceding the triggering event, subject to the award agreement.
• Other terms: Phantom Units represent the economic equivalent of one Class A Unit (F1) and accrue dividend equivalent rights (F2).
• Shares owned after transaction: Not specified in the filing.

Context Phantom units are a form of deferred cash compensation for directors — they are not actual equity shares now but give the economic benefit of future unit price changes (plus dividend equivalents). Such director awards are routine compensation and do not by themselves indicate the director’s personal buying or selling preference. The award’s eventual value will depend on future Class A Unit prices and the occurrence of the stated triggering events.