---
schema_version: "secwatch.filing_event.v1"
accession: "0001176334-25-000022"
form_type: "8-K"
ticker: "MMLP"
cik: "0001176334"
company_name: "MARTIN MIDSTREAM PARTNERS L.P."
filed_at: "2025-02-18T23:59:59+00:00"
generated_at: "2026-05-26T14:29:18.676091+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MMLP eases credit covenants for Q1-Q3 2025; adopts phantom unit plan

## Summary
- Credit agreement amended: interest coverage ratio floor lowered to 1.75x for Q1-Q3 2025 from 2.00x, then back to 2.00x.
- First lien leverage ratio maximum reduced to 1.25x for Q1-Q3 2025 from 1.50x, then back to 1.50x.
- Board approved 2025 Phantom Unit Plan; 1.21M phantom units and 425K appreciation rights granted to employees.

## SEC filing metadata
- accession: 0001176334-25-000022
- form_type: 8-K
- ticker: MMLP
- cik: 0001176334
- company_name: MARTIN MIDSTREAM PARTNERS L.P.
- filed_at: 2025-02-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1176334/000117633425000022/0001176334-25-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1176334/000117633425000022/mmlp-20250211.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001176334-25-000022
- JSON: https://secwatch.observer/filing/0001176334-25-000022.json
- Plain text: https://secwatch.observer/filing/0001176334-25-000022.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.