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

Reporting relationship: Vice President,Human Resources
Issuer ticker: SPH
Reported as of: 14 Nov 2025
Net transaction value: -$147,175
SEC form: 4
Accepted by SEC: 18 Nov 2025, 10:32:48 UTC
Prior SEC filing: 18 Nov 2024
Source filing: View source filing
Reporting owner signature: Bryon Koepke, by power of attorney

Key filing fact

Francesca Cleffi filed Form 4 for SUBURBAN PROPANE PARTNERS LP (SPH) on 18 Nov 2025.

Key facts

This page summarizes Francesca Cleffi's Form 4 filing for SUBURBAN PROPANE PARTNERS LP (SPH).
6 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 18 Nov 2025, 10:32.

Change

Previous filing in this sequence was filed on 18 Nov 2024.
Current net transaction value: -$147,175.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001833116 Primary reporting owner

Cleffi Francesca

Relationship: Vice President,Human Resources
Address: C/O SUBURBAN PROPANE PARTNERS, L.P., 240 ROUTE 10 WEST, WHIPPANY
Signature: Bryon Koepke, by power of attorney
Signature date: 17 Nov 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SPH transaction

Common Units (representing limited partnership interests)

Tax liability

Transaction value: $147,175
Shares: -7,816
Change %: -8.1%
Price: $18.83
Shares after: 88,361
Date: 14 Nov 2025
Ownership: Direct
Footnotes: F1

SPH transaction

Common Units (representing limited partnership interests)

Options Exercise

Transaction value: $288,683
Shares: +15,331
Change %: +17%
Price: $18.83
Shares after: 103,692
Date: 14 Nov 2025
Ownership: Direct

SPH transaction

Common Units (representing limited partnership interests)

Disposed to Issuer

Transaction value: $288,683
Shares: -15,331
Change %: -15%
Price: $18.83
Shares after: 88,361
Date: 14 Nov 2025
Ownership: Direct

SPH transaction

Common Units (representing limited partnership interests)

Award

Transaction value: $0
Shares: +17,415
Change %: +20%
Price: $0.000000
Shares after: 105,776
Date: 15 Nov 2025
Ownership: Direct

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

SPH transaction Derivative

Phantom Units

Options Exercise

Transaction value
Shares: -15,331
Change %: -48%
Price
Shares after: 16,634
Date: 14 Nov 2025
Ownership: Direct
Underlying class: Common Units
Underlying amount: 15,331
Exercise price
Footnotes: F2

SPH transaction Derivative

Phantom Units

Award

Transaction value: $0
Shares: +17,415
Change %: +105%
Price: $0.000000
Shares after: 34,049
Date: 15 Nov 2025
Ownership: Direct
Underlying class: Common Units
Underlying amount: 17,415
Exercise price
Footnotes: F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote 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.

Footnote 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.