Bandera Partners LLC - 30 May 2025 Form 4 Insider Report for STAR GROUP, L.P. (SGU)

Signature
/s/ Gregory Bylinsky, Managing Member, on behalf of Bandera Partners LLC
Issuer symbol
SGU
Transactions as of
30 May 2025
Net transactions value
-$8,428,000
Form type
4
Filing time
03 Jun 2025, 16:07:00 UTC
Previous filing
06 Dec 2024

Reporting Owners (3)

Name Relationship Address Signature Signature date CIK
Bandera Partners LLC Other*, 10%+ Owner 138 ATLANTIC AVENUE, BROOKLYN /s/ Gregory Bylinsky, Managing Member, on behalf of Bandera Partners LLC 03 Jun 2025 0001399386
Bylinsky Gregory Other*, 10%+ Owner C/O BANDERA PARTNERS LLC, 138 ATLANTIC AVENUE, BROOKLYN /s/ Gregory Bylinsky 03 Jun 2025 0001427289
Gramm Jefferson Other*, 10%+ Owner C/O BANDERA PARTNERS LLC, 138 ATLANTIC AVENUE, BROOKLYN /s/ Jefferson Gramm 03 Jun 2025 0001427290

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SGU Common Units Sale $8,428,000 -700,000 -20% $12.04 2,745,360 30 May 2025 See footnote F1, F2, F3
holding SGU Common Units 4,827 30 May 2025 See footnote F1, F4
holding SGU Common Units 206,483 30 May 2025 See footnote F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Bandera Partners LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 This Form 4 is filed jointly by Bandera Partners LLC ("Bandera Partners"), Gregory Bylinsky and Jefferson Gramm (collectively, the "Reporting Persons"). Each of the Reporting Persons was deemed to be a member of a Section 13(d) group that was previously deemed to collectively beneficially own more than 10% of the Issuer's outstanding Common Units. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
F2 Bandera Partners is the investment manager of Bandera Master Fund L.P. ("Bandera Master Fund"), in whose name the securities are held. Messrs. Bylinsky and Gramm are the Managing Members of Bandera Partners. Bandera Master Fund has delegated to Bandera Partners the sole and exclusive authority to vote and dispose of the securities held by Bandera Master Fund. As a result, each of Bandera Partners and Messrs. Bylinsky and Gramm may be deemed to beneficially own the securities held by Bandera Master Fund.
F3 On May 30, 2025, Bandera Master Fund entered into a Unit Purchase Agreement with the Issuer pursuant to which it agreed to sell to the Issuer 700,000 Common Units at a price of $12.04 per unit. The transaction closed on June 2, 2025.
F4 Represents securities owned solely by Mr. Bylinsky.
F5 Represents securities owned solely by Mr. Gramm.