Michael Kuglin - 14 Nov 2025 Form 4 Insider Report for SUBURBAN PROPANE PARTNERS LP (SPH)

Role
Chief Financial Officer
Signature
Bryon Koepke, by power of attorney
Issuer symbol
SPH
Transactions as of
14 Nov 2025
Transactions value $
-$225,922
Form type
4
Filing time
18 Nov 2025, 10:30:25 UTC
Previous filing
18 Nov 2024
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Kuglin Michael Chief Financial Officer C/O SUBURBAN PROPANE PARTNERS, L.P., 240 ROUTE 10 WEST, WHIPPANY Bryon Koepke, by power of attorney 17 Nov 2025 0001404435

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPH Common Units (representing limited partnership interests) Tax liability -$226K -12K -6.45% $18.83 174K 14 Nov 2025 Direct F1
transaction SPH Common Units (representing limited partnership interests) Options Exercise $441K +23.4K +13.44% $18.83 197K 14 Nov 2025 Direct
transaction SPH Common Units (representing limited partnership interests) Disposed to Issuer -$441K -23.4K -11.85% $18.83 174K 14 Nov 2025 Direct
transaction SPH Common Units (representing limited partnership interests) Award $0 +24.1K +13.85% $0.00 198K 15 Nov 2025 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SPH Phantom Units Options Exercise -23.4K -48.4% 25K 14 Nov 2025 Common Units 23.4K Direct F2
transaction SPH Phantom Units Award $0 +24.1K +96.63% $0.00 49.1K 15 Nov 2025 Common Units 24.1K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents filer's payment of tax liability in connection with the vesting of previously granted restricted units by means of Issuer's withholding of Common Units in accordance with the provisions of Issuer's restricted unit plan and SEC Rule 16b-3.
F2 One third of the phantom units vest on each of the first three anniversaries of the grant date, subject to continuous employment or service of the reporting person from the grant date through the applicable payment date. Upon vesting, phantom units are automatically converted into cash equal to the average of the highest and lowest trading prices of the Issuer's Common Units on the vesting date.