AGÕæÈ˹ٷ½

STOCK TITAN

[Form 4] Icahn Enterprises L.P Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

Icahn Enterprises L.P. (IEP) â€� Form 4 insider filing dated 06/26/2025

Chairman, Director and >10% owner Carl C. Icahn reported receipt of 22,033,036 Depositary Units on 06/25/2025. The units were issued as a payment-in-kind (PIK) dividend (Transaction Code J) on the 472,750,583 units he already owned on the dividend record date. The filing assigns a value of $8.4589 per unit, representing the cash amount foregone for each unit distributed.

After the distribution, Icahn’s beneficial ownership rises to 494,783,619 units, all reported as indirect. The stake is held through several wholly controlled entities: CCI Onshore LLC (105.7 M units), Gascon Partners (68.0 M), High Coast LP (247.9 M), Highcrest Investors LLC (54.7 M) and Thornwood Associates LP (18.5 M). Footnotes confirm Icahn’s 100 % control of the general partners or managing members of each entity while expressly disclaiming beneficial ownership beyond economic interest.

No open-market purchases or sales were reported; the transaction is exempt from Section 16(b) short-swing profit rules under Rule 16b-3(d). Accordingly, the filing reflects routine dividend mechanics rather than a discretionary buy or sell decision. Icahn remains the largest unitholder and continues to serve as Chairman of the Board.

Icahn Enterprises L.P. (IEP) � Comunicazione interna Modulo 4 datata 26/06/2025

Il Presidente, Direttore e azionista con oltre il 10% Carl C. Icahn ha dichiarato di aver ricevuto 22.033.036 Unità Depositarie il 25/06/2025. Le unità sono state emesse come dividendo in natura (PIK) (Codice Transazione J) sulle 472.750.583 unità che già possedeva alla data di registrazione del dividendo. La comunicazione attribuisce un valore di $8,4589 per unità, rappresentando l'importo in contanti rinunciato per ogni unità distribuita.

Dopo la distribuzione, la quota di proprietà effettiva di Icahn sale a 494.783.619 unità, tutte riportate come indirette. La partecipazione è detenuta tramite diverse entità interamente controllate: CCI Onshore LLC (105,7 M unità), Gascon Partners (68,0 M), High Coast LP (247,9 M), Highcrest Investors LLC (54,7 M) e Thornwood Associates LP (18,5 M). Le note a piè di pagina confermano il controllo totale di Icahn sui partner generali o membri gestori di ciascuna entità, pur escludendo espressamente la titolarità effettiva oltre l’interesse economico.

Non sono stati segnalati acquisti o vendite sul mercato aperto; la transazione è esente dalle regole sui profitti a breve termine della Sezione 16(b) ai sensi della Regola 16b-3(d). Di conseguenza, la comunicazione riflette meccanismi di dividendo di routine piuttosto che una decisione discrezionale di acquisto o vendita. Icahn rimane il maggior detentore di unità e continua a ricoprire il ruolo di Presidente del Consiglio di Amministrazione.

Icahn Enterprises L.P. (IEP) � Presentación interna Formulario 4 fechada el 26/06/2025

El Presidente, Director y propietario de más del 10% Carl C. Icahn reportó la recepción de 22.033.036 Unidades Depositarias el 25/06/2025. Las unidades fueron emitidas como un dividendo en especie (PIK) (Código de Transacción J) sobre las 472.750.583 unidades que ya poseía en la fecha de registro del dividendo. La presentación asigna un valor de $8.4589 por unidad, representando la cantidad en efectivo renunciada por cada unidad distribuida.

Tras la distribución, la participación beneficiaria de Icahn aumenta a 494.783.619 unidades, todas reportadas como indirectas. La participación se mantiene a través de varias entidades totalmente controladas: CCI Onshore LLC (105,7 M unidades), Gascon Partners (68,0 M), High Coast LP (247,9 M), Highcrest Investors LLC (54,7 M) y Thornwood Associates LP (18,5 M). Las notas al pie confirman el control total de Icahn sobre los socios generales o miembros gerentes de cada entidad, mientras que expresamente niegan la propiedad beneficiaria más allá del interés económico.

No se reportaron compras o ventas en el mercado abierto; la transacción está exenta de las reglas de ganancias a corto plazo de la Sección 16(b) bajo la Regla 16b-3(d). En consecuencia, la presentación refleja mecanismos rutinarios de dividendos en lugar de una decisión discrecional de compra o venta. Icahn sigue siendo el mayor tenedor de unidades y continúa desempeñando el cargo de Presidente del Consejo.

Icahn Enterprises L.P. (IEP) â€� 2025ë…� 6ì›� 26ì¼ìž Form 4 ë‚´ë¶€ìž� ë³´ê³ 

회장, ì´ì‚¬ ë°� 10% ì´ìƒ ì†Œìœ ì£¼ì¸ Carl C. Icahnì� 2025ë…� 6ì›� 25ì¼ì— 22,033,036 예íƒì¦ì„œ 단위ë¥� 수령했다ê³� 보고했습니다. ì� ë‹¨ìœ„ë“¤ì€ í˜„ë¬¼ë°°ë‹¹ê¸�(PIK 배당)으로 발행ë˜ì—ˆìœ¼ë©°(거래 코드 J), 배당 기준ì¼ì— ì´ë¯¸ 보유 중ì´ë� 472,750,583 단위ì—� 대í•� 지급ë˜ì—ˆìŠµë‹ˆë‹¤. 보고서ì—ëŠ� 단위ë‹� $8.4589ì� 가치가 할당ë˜ì–´, ë°°í¬ë� ê°� 단위ì—� 대í•� í¬ê¸°í•� 현금 금액ì� 나타냅니ë‹�.

ë°°í¬ í›�, Icahnì� 실질 소유 단위 수는 494,783,619 단위ë¡� ì¦ê°€í–ˆìœ¼ë©�, ëª¨ë‘ ê°„ì ‘ 소유ë¡� ë³´ê³ ë˜ì—ˆìŠµë‹ˆë‹�. ì� ì§€ë¶„ì€ CCI Onshore LLC(1ì–� 570ë§� 단위), Gascon Partners(6,800ë§� 단위), High Coast LP(2ì–� 4,790ë§� 단위), Highcrest Investors LLC(5,470ë§� 단위), Thornwood Associates LP(1,850ë§� 단위) ë“� 여러 완전 통제 법ì¸ì� 통해 보유 중입니다. ê°� 법ì¸ì� ì¼ë°˜ 파트ë„� ë˜ëŠ” ê´€ë¦� 멤버ì—� 대í•� Icahnì� 100% í†µì œê¶Œì´ ê°ì£¼ì—� 명확íž� 기재ë˜ì–´ 있으ë©�, 경제ì � ì´ìµì� 넘어ì„� 실질 ì†Œìœ ê¶Œì€ ë¶€ì¸í•˜ê³� 있습니다.

공개 시장ì—서ì� 매수 ë˜ëŠ” 매ë„ëŠ� ë³´ê³ ë˜ì§€ 않았으며, ì� 거래ëŠ� 규칙 16b-3(d)ì—� 따른 섹션 16(b) 단기 ì´ìµ 규정ì—서 ë©´ì œë©ë‹ˆë‹�. ë”°ë¼ì„� ì´ë²ˆ ë³´ê³ ëŠ� ìž„ì˜ì� 매수 ë˜ëŠ” ë§¤ë„ ê²°ì •ì� 아닌 ì¼ìƒì ì¸ 배당 절차ë¥� ë°˜ì˜í•©ë‹ˆë‹�. Icahnì€ ìµœëŒ€ 단위 보유ìžë¡œ 남아 있으ë©�, ì´ì‚¬íš� ì˜ìž¥ì§ì„ ê³„ì† ìˆ˜í–‰í•˜ê³  있습니다.

Icahn Enterprises L.P. (IEP) � Déclaration d’initié Formulaire 4 datée du 26/06/2025

Le président, administrateur et propriétaire de plus de 10 % Carl C. Icahn a déclaré avoir reçu 22 033 036 unités déposées le 25/06/2025. Ces unités ont été émises sous forme de dividende en nature (PIK) (code transaction J) sur les 472 750 583 unités qu’il détenait déjà à la date d’enregistrement du dividende. La déclaration attribue une valeur de 8,4589 $ par unité, représentant le montant en espèces renoncé pour chaque unité distribuée.

Après la distribution, la participation bénéficiaire d’Icahn augmente à 494 783 619 unités, toutes déclarées comme indirectes. La participation est détenue par plusieurs entités entièrement contrôlées : CCI Onshore LLC (105,7 M unités), Gascon Partners (68,0 M), High Coast LP (247,9 M), Highcrest Investors LLC (54,7 M) et Thornwood Associates LP (18,5 M). Les notes de bas de page confirment le contrôle à 100 % d’Icahn sur les associés commandités ou membres gestionnaires de chaque entité, tout en déclinant expressément la propriété bénéficiaire au-delà de l’intérêt économique.

Aucun achat ou vente sur le marché ouvert n’a été signalé ; la transaction est exemptée des règles sur les profits à court terme de la Section 16(b) en vertu de la Règle 16b-3(d). En conséquence, la déclaration reflète des mécanismes de dividendes routiniers plutôt qu’une décision discrétionnaire d’achat ou de vente. Icahn reste le principal détenteur d’unités et continue d’exercer les fonctions de président du conseil d’administration.

Icahn Enterprises L.P. (IEP) � Form 4 Insider-Meldung vom 26.06.2025

Vorsitzender, Direktor und >10%-·¡¾±²µ±ð²Ô³Ùü³¾±ð°ù Carl C. Icahn meldete den Erhalt von 22.033.036 Depositary Units am 25.06.2025. Die Einheiten wurden als Payment-in-Kind (PIK) Dividende (Transaktionscode J) auf die bereits zum Dividendenstichtag gehaltenen 472.750.583 Einheiten ausgegeben. Die Meldung weist einen Wert von $8,4589 pro Einheit aus, was dem entgangenen Barbetrag pro ausgegebener Einheit entspricht.

Nach der Ausschüttung steigt Icahns wirtschaftliches Eigentum auf 494.783.619 Einheiten, die alle als indirekt gemeldet werden. Die Beteiligung wird über mehrere vollständig kontrollierte Gesellschaften gehalten: CCI Onshore LLC (105,7 Mio. Einheiten), Gascon Partners (68,0 Mio.), High Coast LP (247,9 Mio.), Highcrest Investors LLC (54,7 Mio.) und Thornwood Associates LP (18,5 Mio.). Fußnoten bestätigen Icahns 100% Kontrolle über die Generalpartner oder geschäftsführenden Mitglieder jeder Gesellschaft, während ausdrücklich ein wirtschaftliches Eigentum über das wirtschaftliche Interesse hinaus verneint wird.

Keine Käufe oder Verkäufe am offenen Markt wurden gemeldet; die Transaktion ist gemäß Regel 16b-3(d) von den Short-Swing-Gewinnregeln des Abschnitts 16(b) ausgenommen. Dementsprechend spiegelt die Meldung routinemäßige Dividendenvorgänge wider und stellt keine diskretionäre Kauf- oder Verkaufsentscheidung dar. Icahn bleibt der größte Anteilseigner und ist weiterhin Vorsitzender des Vorstands.

Positive
  • Ownership increase: Icahn received 22.0 M additional units, underscoring continued economic alignment with other investors.
Negative
  • No cash investment: Units were issued as a dividend, so the filing does not indicate incremental capital commitment or bullish open-market buying.

Insights

TL;DR: Routine PIK dividend adds 22 M IEP units to Icahn’s indirect holdings; no cash purchase, neutral signal.

The Form 4 shows a mechanical increase in ownership via payment-in-kind distribution, not an open-market acquisition. Transaction code J and Rule 16b-3(d) exemption confirm it is a dividend election common to IEP’s structure. While the additional 22 M units lift Icahn’s stake to nearly 495 M, the move neither injects new capital nor alters control dynamics—Icahn already controls >85 % of outstanding units. For investors, the filing is informational with minimal trading signal; it does, however, reaffirm Icahn’s economic alignment with other unitholders.

TL;DR: Stock dividend issuance modestly dilutes float; Icahn’s ownership percentage stays roughly constant—impact immaterial.

Because every unitholder could elect cash or units, Icahn’s acceptance of units simply mirrors his historical preference for non-cash distributions. The additional units keep his proportional ownership steady and do not constitute fresh buying pressure. From a portfolio standpoint, the event doesn’t change IEP’s leverage, liquidity, or governance profile. Market impact is expected to be negligible unless coupled with broader news on IEP’s operating subsidiaries or dividend policy.

Icahn Enterprises L.P. (IEP) � Comunicazione interna Modulo 4 datata 26/06/2025

Il Presidente, Direttore e azionista con oltre il 10% Carl C. Icahn ha dichiarato di aver ricevuto 22.033.036 Unità Depositarie il 25/06/2025. Le unità sono state emesse come dividendo in natura (PIK) (Codice Transazione J) sulle 472.750.583 unità che già possedeva alla data di registrazione del dividendo. La comunicazione attribuisce un valore di $8,4589 per unità, rappresentando l'importo in contanti rinunciato per ogni unità distribuita.

Dopo la distribuzione, la quota di proprietà effettiva di Icahn sale a 494.783.619 unità, tutte riportate come indirette. La partecipazione è detenuta tramite diverse entità interamente controllate: CCI Onshore LLC (105,7 M unità), Gascon Partners (68,0 M), High Coast LP (247,9 M), Highcrest Investors LLC (54,7 M) e Thornwood Associates LP (18,5 M). Le note a piè di pagina confermano il controllo totale di Icahn sui partner generali o membri gestori di ciascuna entità, pur escludendo espressamente la titolarità effettiva oltre l’interesse economico.

Non sono stati segnalati acquisti o vendite sul mercato aperto; la transazione è esente dalle regole sui profitti a breve termine della Sezione 16(b) ai sensi della Regola 16b-3(d). Di conseguenza, la comunicazione riflette meccanismi di dividendo di routine piuttosto che una decisione discrezionale di acquisto o vendita. Icahn rimane il maggior detentore di unità e continua a ricoprire il ruolo di Presidente del Consiglio di Amministrazione.

Icahn Enterprises L.P. (IEP) � Presentación interna Formulario 4 fechada el 26/06/2025

El Presidente, Director y propietario de más del 10% Carl C. Icahn reportó la recepción de 22.033.036 Unidades Depositarias el 25/06/2025. Las unidades fueron emitidas como un dividendo en especie (PIK) (Código de Transacción J) sobre las 472.750.583 unidades que ya poseía en la fecha de registro del dividendo. La presentación asigna un valor de $8.4589 por unidad, representando la cantidad en efectivo renunciada por cada unidad distribuida.

Tras la distribución, la participación beneficiaria de Icahn aumenta a 494.783.619 unidades, todas reportadas como indirectas. La participación se mantiene a través de varias entidades totalmente controladas: CCI Onshore LLC (105,7 M unidades), Gascon Partners (68,0 M), High Coast LP (247,9 M), Highcrest Investors LLC (54,7 M) y Thornwood Associates LP (18,5 M). Las notas al pie confirman el control total de Icahn sobre los socios generales o miembros gerentes de cada entidad, mientras que expresamente niegan la propiedad beneficiaria más allá del interés económico.

No se reportaron compras o ventas en el mercado abierto; la transacción está exenta de las reglas de ganancias a corto plazo de la Sección 16(b) bajo la Regla 16b-3(d). En consecuencia, la presentación refleja mecanismos rutinarios de dividendos en lugar de una decisión discrecional de compra o venta. Icahn sigue siendo el mayor tenedor de unidades y continúa desempeñando el cargo de Presidente del Consejo.

Icahn Enterprises L.P. (IEP) â€� 2025ë…� 6ì›� 26ì¼ìž Form 4 ë‚´ë¶€ìž� ë³´ê³ 

회장, ì´ì‚¬ ë°� 10% ì´ìƒ ì†Œìœ ì£¼ì¸ Carl C. Icahnì� 2025ë…� 6ì›� 25ì¼ì— 22,033,036 예íƒì¦ì„œ 단위ë¥� 수령했다ê³� 보고했습니다. ì� ë‹¨ìœ„ë“¤ì€ í˜„ë¬¼ë°°ë‹¹ê¸�(PIK 배당)으로 발행ë˜ì—ˆìœ¼ë©°(거래 코드 J), 배당 기준ì¼ì— ì´ë¯¸ 보유 중ì´ë� 472,750,583 단위ì—� 대í•� 지급ë˜ì—ˆìŠµë‹ˆë‹¤. 보고서ì—ëŠ� 단위ë‹� $8.4589ì� 가치가 할당ë˜ì–´, ë°°í¬ë� ê°� 단위ì—� 대í•� í¬ê¸°í•� 현금 금액ì� 나타냅니ë‹�.

ë°°í¬ í›�, Icahnì� 실질 소유 단위 수는 494,783,619 단위ë¡� ì¦ê°€í–ˆìœ¼ë©�, ëª¨ë‘ ê°„ì ‘ 소유ë¡� ë³´ê³ ë˜ì—ˆìŠµë‹ˆë‹�. ì� ì§€ë¶„ì€ CCI Onshore LLC(1ì–� 570ë§� 단위), Gascon Partners(6,800ë§� 단위), High Coast LP(2ì–� 4,790ë§� 단위), Highcrest Investors LLC(5,470ë§� 단위), Thornwood Associates LP(1,850ë§� 단위) ë“� 여러 완전 통제 법ì¸ì� 통해 보유 중입니다. ê°� 법ì¸ì� ì¼ë°˜ 파트ë„� ë˜ëŠ” ê´€ë¦� 멤버ì—� 대í•� Icahnì� 100% í†µì œê¶Œì´ ê°ì£¼ì—� 명확íž� 기재ë˜ì–´ 있으ë©�, 경제ì � ì´ìµì� 넘어ì„� 실질 ì†Œìœ ê¶Œì€ ë¶€ì¸í•˜ê³� 있습니다.

공개 시장ì—서ì� 매수 ë˜ëŠ” 매ë„ëŠ� ë³´ê³ ë˜ì§€ 않았으며, ì� 거래ëŠ� 규칙 16b-3(d)ì—� 따른 섹션 16(b) 단기 ì´ìµ 규정ì—서 ë©´ì œë©ë‹ˆë‹�. ë”°ë¼ì„� ì´ë²ˆ ë³´ê³ ëŠ� ìž„ì˜ì� 매수 ë˜ëŠ” ë§¤ë„ ê²°ì •ì� 아닌 ì¼ìƒì ì¸ 배당 절차ë¥� ë°˜ì˜í•©ë‹ˆë‹�. Icahnì€ ìµœëŒ€ 단위 보유ìžë¡œ 남아 있으ë©�, ì´ì‚¬íš� ì˜ìž¥ì§ì„ ê³„ì† ìˆ˜í–‰í•˜ê³  있습니다.

Icahn Enterprises L.P. (IEP) � Déclaration d’initié Formulaire 4 datée du 26/06/2025

Le président, administrateur et propriétaire de plus de 10 % Carl C. Icahn a déclaré avoir reçu 22 033 036 unités déposées le 25/06/2025. Ces unités ont été émises sous forme de dividende en nature (PIK) (code transaction J) sur les 472 750 583 unités qu’il détenait déjà à la date d’enregistrement du dividende. La déclaration attribue une valeur de 8,4589 $ par unité, représentant le montant en espèces renoncé pour chaque unité distribuée.

Après la distribution, la participation bénéficiaire d’Icahn augmente à 494 783 619 unités, toutes déclarées comme indirectes. La participation est détenue par plusieurs entités entièrement contrôlées : CCI Onshore LLC (105,7 M unités), Gascon Partners (68,0 M), High Coast LP (247,9 M), Highcrest Investors LLC (54,7 M) et Thornwood Associates LP (18,5 M). Les notes de bas de page confirment le contrôle à 100 % d’Icahn sur les associés commandités ou membres gestionnaires de chaque entité, tout en déclinant expressément la propriété bénéficiaire au-delà de l’intérêt économique.

Aucun achat ou vente sur le marché ouvert n’a été signalé ; la transaction est exemptée des règles sur les profits à court terme de la Section 16(b) en vertu de la Règle 16b-3(d). En conséquence, la déclaration reflète des mécanismes de dividendes routiniers plutôt qu’une décision discrétionnaire d’achat ou de vente. Icahn reste le principal détenteur d’unités et continue d’exercer les fonctions de président du conseil d’administration.

Icahn Enterprises L.P. (IEP) � Form 4 Insider-Meldung vom 26.06.2025

Vorsitzender, Direktor und >10%-·¡¾±²µ±ð²Ô³Ùü³¾±ð°ù Carl C. Icahn meldete den Erhalt von 22.033.036 Depositary Units am 25.06.2025. Die Einheiten wurden als Payment-in-Kind (PIK) Dividende (Transaktionscode J) auf die bereits zum Dividendenstichtag gehaltenen 472.750.583 Einheiten ausgegeben. Die Meldung weist einen Wert von $8,4589 pro Einheit aus, was dem entgangenen Barbetrag pro ausgegebener Einheit entspricht.

Nach der Ausschüttung steigt Icahns wirtschaftliches Eigentum auf 494.783.619 Einheiten, die alle als indirekt gemeldet werden. Die Beteiligung wird über mehrere vollständig kontrollierte Gesellschaften gehalten: CCI Onshore LLC (105,7 Mio. Einheiten), Gascon Partners (68,0 Mio.), High Coast LP (247,9 Mio.), Highcrest Investors LLC (54,7 Mio.) und Thornwood Associates LP (18,5 Mio.). Fußnoten bestätigen Icahns 100% Kontrolle über die Generalpartner oder geschäftsführenden Mitglieder jeder Gesellschaft, während ausdrücklich ein wirtschaftliches Eigentum über das wirtschaftliche Interesse hinaus verneint wird.

Keine Käufe oder Verkäufe am offenen Markt wurden gemeldet; die Transaktion ist gemäß Regel 16b-3(d) von den Short-Swing-Gewinnregeln des Abschnitts 16(b) ausgenommen. Dementsprechend spiegelt die Meldung routinemäßige Dividendenvorgänge wider und stellt keine diskretionäre Kauf- oder Verkaufsentscheidung dar. Icahn bleibt der größte Anteilseigner und ist weiterhin Vorsitzender des Vorstands.

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*
ICAHN CARL C

(Last) (First) (Middle)
C/O ICAHN ASSOCIATES HOLDING LLC
16690 COLLINS AVE., PH-1

(Street)
SUNNY ISLES BEACH FL 33160

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ICAHN ENTERPRISES L.P. [ IEP ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) X Other (specify below)
CHAIRMAN OF THE BOARD
3. Date of Earliest Transaction (Month/Day/Year)
06/25/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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)
Code V Amount (A) or (D) Price
Depositary Units(1)(2) 06/25/2025(3) J(5) 22,033,036 A $8.4589(4) 494,783,619 I Please see footnotes(6)(7)(8)(9)(10)(11)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Depository Units representing limited partner interests in Icahn Enterprises L.P. (the "Issuer").
2. Comprised of Depositary Units held indirectly through CCI Onshore LLC ("CCI Onshore"), Gascon Partners ("Gascon"), High Coast Limited Partnership ("High Coast"), Highcrest Investors LLC ("Highcrest") and Thornwood Associates Limited Partnership ("Thornwood").
3. Represents the date on which dividend amounts are determined based on the election of each holder and the volume weighted average trading price of units on NASDAQ during five consecutive trading days following the election date.
4. Represents the amount foregone in exchange for each Depository Unit received as a dividend.
5. The reporting person received 22,033,036 Depositary Units as a payment-in-kind dividend on 472,750,583 Depositary Units owned on the dividend record date in a transaction exempt from Section 16(b) liability pursuant to Rule 16(b)-3(d) promulgated under the Securities Exchange Act of 1934, as amended.
6. CCI Onshore beneficially owns 105,713,907 Depository Units. High Coast is the sole member of CCI Onshore. Little Meadow Corp. ("Little Meadow") is the general partner of High Coast. Carl C. Icahn beneficially owns 100% of Little Meadow. Pursuant to Rule 16a-1(a)(2) under the Exchange Act, each of Mr. Icahn, Little Meadow and High Coast (by virtue of their relationships to CCI Onshore) may be deemed to indirectly beneficially own the Depository Units which CCI Onshore owns. Each of Mr. Icahn, Little Meadow and High Coast disclaims beneficial ownership of such Depository Units except to the extent of their pecuniary interest therein.
7. Gascon beneficially owns 68,012,888 Depository Units. Little Meadow is the managing general partner of Gascon. Carl C. Icahn beneficially owns 100% of Little Meadow. Pursuant to Rule 16a-1(a)(2) under the Exchange Act, each of Mr. Icahn and Little Meadow (by virtue of their relationships to Gascon) may be deemed to indirectly beneficially own the Depository Units which Gascon owns. Each of Mr. Icahn and Little Meadow disclaims beneficial ownership of such Depository Units except to the extent of their pecuniary interest therein.
8. High Coast beneficially owns 247,933,108 Depository Units. Little Meadow is the general partner of High Coast. Carl C. Icahn beneficially owns 100% of Little Meadow. Pursuant to Rule 16a-1(a)(2) under the Exchange Act, each of Mr. Icahn and Little Meadow (by virtue of their relationships to High Coast) may be deemed to indirectly beneficially own the Depository Units which High Coast owns. Each of Mr. Icahn and Little Meadow disclaims beneficial ownership of such Depository Units except to the extent of their pecuniary interest therein.
9. Highcrest beneficially owns 54,653,989 Depository Units. Starfire Holding Corporation ("Starfire") beneficially owns 100% of Highcrest. Carl C. Icahn beneficially owns 100% of Starfire. Pursuant to Rule 16a-1(a)(2) under the Exchange Act, each of Mr. Icahn and Starfire (by virtue of their relationships to Highcrest) may be deemed to indirectly beneficially own the Depository Units which Highcrest owns. Each of Mr. Icahn and Starfire disclaims beneficial ownership of such Depository Units except to the extent of their pecuniary interest therein.
10. Thornwood beneficially owns 18,469,727 Depository Units. Barberry Corp. ("Barberry") is the general partner of Thornwood. Carl C. Icahn beneficially owns 100% of Barberry. Pursuant to Rule 16a-1(a)(2) under the Exchange Act, each of Mr. Icahn and Barberry (by virtue of their relationships to Thornwood) may be deemed to indirectly beneficially own the Depository Units which Thornwood owns. Each of Mr. Icahn and Barberry disclaims beneficial ownership of such Depository Units except to the extent of their pecuniary interest therein.
11. Mr. Icahn may be deemed to indirectly beneficially own the 12,008 Depository Units owned by Gail Golden, his wife, which are not included in the total reported in column 5. Mr. Icahn disclaims beneficial ownership of such Depositary Units for all purposes.
/s/ Carl C. Icahn 06/26/2025
** 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.

FAQ

How many Icahn Enterprises (IEP) units did Carl Icahn receive on 25-Jun-2025?

22,033,036 Depositary Units were issued to him as a payment-in-kind dividend.

What is Carl Icahn’s total beneficial ownership in IEP after the transaction?

He now indirectly beneficially owns 494,783,619 units.

Was the reported Form 4 transaction a purchase or a dividend?

It was a payment-in-kind dividend (Transaction Code J), not an open-market purchase.

What price per unit is disclosed for the dividend units?

The filing lists an implied value of $8.4589 per unit.

Through which entities does Carl Icahn hold his IEP units?

Key entities include CCI Onshore LLC, Gascon Partners, High Coast LP, Highcrest Investors LLC, and Thornwood Associates LP.
Icahn Enterprises

NASDAQ:IEP

IEP Rankings

IEP Latest News

IEP Latest SEC Filings

IEP Stock Data

5.30B
545.66M
0.08%
91.48%
2.04%
Oil & Gas Refining & Marketing
Motor Vehicle Parts & Accessories
United States
SUNNY ISLES BEACH