ADDED
There were 39,055,086 of the registrant s common units outstanding as of February 23, 2026.
Certain Relationships and Related Transactions, and Director Independence 126 Item 14 .
Business References in this Annual Report on Form 10-K for the year ended December 31, 2025 (this "Annual Report") to "we," "ours," "us" or like terms when used in a historical context refer to the assets and operations of Martin Resource Management Corporation's business contributed to us in connection with our initial public offering on November 6, 2002.
As of December 31, 2025, Martin Resource Management Corporation owned 20.2% of our total outstanding common limited partner units.
Our land transportation assets include approximately 590 trucks and 1,230 tank trailers which are based across 25 terminals strategically located 2 throughout the U.S.
Significant Recent Developments Tariffs and Trading Relationships.
government announced a baseline tariff of 10% on products imported from all countries and an additional individualized reciprocal tariff on the countries with those countries which the United States has the largest trade deficits, including China.
Court of Appeals for the Federal Circuit ruled that the tariffs imposed under the Trump Administration exceed presidential authority and therefore are invalid, and in February 2026, the U.S.
Following the ruling, the Trump administration signed an executive order imposing a 10% global tariff and later indicated an intention to increase such global tariff to 15%, effective immediately, using presidential powers under certain U.S.
If implemented, such tariffs can remain in effect for up to 150 days, which may be extended by the U.S.
REMOVED
There were 39,055,086 of the registrant s common units outstanding as of February 24, 2025.
Certain Relationships and Related Transactions, and Director Independence 128 Item 14 .
Business References in this annual report to "we," "ours," "us" or like terms when used in a historical context refer to the assets and operations of Martin Resource Management Corporation's business contributed to us in connection with our initial public offering on November 6, 2002.
As of December 31, 2024, Martin Resource Management Corporation owned 15.7% of our total outstanding common limited partner units.
Our land transportation assets include approximately 600 trucks and 1,275 tank trailers which are based across 25 terminals strategically located 2 throughout the U.S.
Significant Recent Developments Termination of Merger Agreement.
On October 3, 2024, the Partnership, Martin Resource Management Corporation, MMGP, and MRMC Merger Sub LLC, a wholly owned subsidiary of Martin Resource Management Corporation ( Merger Sub ), entered into an Agreement and Plan of Merger (the Merger Agreement ) pursuant to which Merger Sub agreed to merge with and into the Partnership, with the Partnership surviving as a wholly owned subsidiary of Parent (the Merger ).
On December 26, 2024, Martin Resource Management Corporation and the Partnership (with the approval of the conflicts committee (the Conflicts Committee ) of the board of directors of MMGP (the Board of Directors )) entered into a termination agreement (the Termination Agreement ), pursuant to which the Merger Agreement was terminated.
As a result, the Merger Agreement has no further force and effect.
As a result of the termination of the Merger Agreement, the special meeting of the unitholders of the Partnership, which was to be held on December 30, 2024 for the purpose of voting on the Merger Agreement and the Merger, was cancelled.