Navios Maritime Partners (NMM) insider adds 3,747 units under 10b5-1 plan

Q: Were the NMM insider purchases made under a Rule 10b5-1 plan?

Yes. The filing states the purchases were made under a Rule 10b5-1 trading plan between Raymar Investments S.A., an entity affiliated with Ms. Frangou, and UBS Financial Services Inc., adopted on December 9, 2025, indicating the trades were pre-arranged.

Filing Impact

(Moderate)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Navios Maritime Partners L.P. director, officer and major unitholder Angeliki Frangou reported indirect open-market purchases of common units. Through Raymar Investments S.A., an affiliated entity, she bought 1,273 units on March 24, 2026 at a weighted average price of $68.0389, 1,220 units on March 25, 2026 at $67.1185, and 1,254 units on March 26, 2026 at $67.8141, totaling 3,747 units. These transactions were executed under a pre-arranged Rule 10b5-1 trading plan between Raymar Investments S.A. and UBS Financial Services Inc. Following these purchases, she beneficially owns 4,682,488 common units indirectly and 366,766 common units directly, and an affiliated entity, Olympos Maritime Ltd., holds 622,296 general partnership units representing approximately 2.1% of Navios Maritime Partners’ outstanding common and general partnership units as of March 26, 2026.

Insider Trade Summary 10b5-1

Net Buyer: 3,747 shares ($253,537)

Net Buy 5 txns

Insider Frangou Angeliki

Role See Remarks

Bought 3,747 shs ($254K)

Type	Security	Shares	Price	Value
Purchase	Common Unit	1,254	$67.8141	$85K
Purchase	Common Unit	1,220	$67.1185	$82K
Purchase	Common Unit	1,273	$68.0389	$87K
holding	Common Unit	--	--	--
holding	General Partnership Unit	--	--	--

Holdings After Transaction: Common Unit — 4,682,488 shares (Indirect, See footnote); Common Unit — 366,766 shares (Direct); General Partnership Unit — 622,296 shares (Indirect, See footnote)

Footnotes (1)

The transactions reported herein were made pursuant to a Rule 10b5-1 trading plan between Raymar Investments S.A., an entity affiliated with Ms. Frangou, and UBS Financial Services Inc. adopted on December 9, 2025. The transactions reported herein were effected in multiple transactions each day at prices ranging from (1) $67.62 to $68.29 on March 24, 2026; (2) $66.58 to $68.15 on March 25, 2026 and (3) $67.17 to $68.42 on March 26, 2026. The prices reported above reflect the weighted average purchase prices on each such day for the transactions reported herein. The Reporting Person hereby undertakes to provide upon request to the Staff of the Securities and Exchange Commission, the issuer, or any security holder of the issuer full information regarding the number of shares and the prices at which these reported transactions were effected each day. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 7,700 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of March 24, 2026. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 8,920 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of March 25, 2026. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 10,174 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of March 26, 2026. Olympos Maritime Ltd., an entity affiliated with Ms. Frangou, is the general partner (the "General Partner") of Navios Maritime Partners L.P. ("NMM"). As of March 26, 2026, the General Partner owns 622,296 general partnership units, representing an approximately 2.1% ownership interest in NMM based on all outstanding common units and general partnership units.

Form 4 Insider Transactions: What Each Field Means →

03/26/2026 - 06:40 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Frangou Angeliki

(Last)

(First)

(Middle)

C/O NAVIOS SHIPMANAGEMENT INC.

85 AKTI MIAOULI

(Street)

PIRAEUS

GREECE

18538

(City)

(State)

(Zip)

GREECE

(Country)

2. Issuer Name and Ticker or Trading Symbol
Navios Maritime Partners L.P. [ NMM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Unit	03/24/2026		P⁽¹⁾		1,273	A	$68.0389⁽²⁾	4,680,014	I	See footnote⁽³⁾
Common Unit	03/25/2026		P⁽¹⁾		1,220	A	$67.1185⁽²⁾	4,681,234	I	See footnote⁽⁴⁾
Common Unit	03/26/2026		P⁽¹⁾		1,254	A	$67.8141⁽²⁾	4,682,488	I	See footnote⁽⁵⁾
Common Unit								366,766	D
General Partnership Unit								622,296	I	See footnote⁽⁶⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The transactions reported herein were made pursuant to a Rule 10b5-1 trading plan between Raymar Investments S.A., an entity affiliated with Ms. Frangou, and UBS Financial Services Inc. adopted on December 9, 2025.

2. The transactions reported herein were effected in multiple transactions each day at prices ranging from (1) $67.62 to $68.29 on March 24, 2026; (2) $66.58 to $68.15 on March 25, 2026 and (3) $67.17 to $68.42 on March 26, 2026. The prices reported above reflect the weighted average purchase prices on each such day for the transactions reported herein. The Reporting Person hereby undertakes to provide upon request to the Staff of the Securities and Exchange Commission, the issuer, or any security holder of the issuer full information regarding the number of shares and the prices at which these reported transactions were effected each day.

3. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 7,700 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of March 24, 2026.

4. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 8,920 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of March 25, 2026.

5. The number of common units beneficially owned by Ms. Frangou includes (i) 3,183,199 common units owned indirectly through N Shipmanagement Acquisition Corp., an entity affiliated with her; (ii) 1,489,115 common units in the aggregate owned indirectly through three other entities affiliated with her and (iii) 10,174 common units owned through Raymar Investments S.A., an entity affiliated with Ms. Frangou, pursuant to a Rule 10b5-1 trading plan with UBS Financial Services Inc as of March 26, 2026.

6. Olympos Maritime Ltd., an entity affiliated with Ms. Frangou, is the general partner (the "General Partner") of Navios Maritime Partners L.P. ("NMM"). As of March 26, 2026, the General Partner owns 622,296 general partnership units, representing an approximately 2.1% ownership interest in NMM based on all outstanding common units and general partnership units.

Remarks:

Chief Executive Officer & Chairwoman of the Board

	/s/ Todd Mason, by POA from Angeliki Frangou, Chairwoman of the Board, Chief Executive Officer and Director	03/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did NMM report for Angeliki Frangou?

Angeliki Frangou reported indirect open-market purchases of Navios Maritime Partners common units on March 24, 25, and 26, 2026, totaling 3,747 units. All trades were executed through an affiliated entity under a pre-arranged Rule 10b5-1 trading plan.

How many Navios Maritime Partners (NMM) units were bought and at what prices?

Across three days, affiliated entity Raymar Investments S.A. acquired 3,747 common units. Weighted average purchase prices were $68.0389 on March 24, $67.1185 on March 25, and $67.8141 on March 26, 2026, as disclosed in the filing and footnotes.

Were the NMM insider purchases made under a Rule 10b5-1 plan?

Yes. The filing states the purchases were made under a Rule 10b5-1 trading plan between Raymar Investments S.A., an entity affiliated with Ms. Frangou, and UBS Financial Services Inc., adopted on December 9, 2025, indicating the trades were pre-arranged.

What is Angeliki Frangou’s total beneficial ownership in NMM after these trades?

After the reported purchases, Ms. Frangou beneficially owns 4,682,488 common units indirectly and 366,766 common units directly. These indirect holdings are spread across several affiliated entities, including N Shipmanagement Acquisition Corp. and three other entities referenced in the footnotes.

Which affiliated entities hold Navios Maritime Partners (NMM) units for Angeliki Frangou?

Footnotes explain that common units are held indirectly through N Shipmanagement Acquisition Corp., three other affiliated entities, and Raymar Investments S.A.. Olympos Maritime Ltd., another affiliated entity, serves as general partner and owns separate general partnership units.

What general partnership interest is held by entities affiliated with Angeliki Frangou in NMM?

Olympos Maritime Ltd., an entity affiliated with Ms. Frangou and the general partner of Navios Maritime Partners, owns 622,296 general partnership units. As of March 26, 2026, this represents an approximately 2.1% ownership interest based on all outstanding common and general partnership units.