v3.26.1
Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Equity Equity
Equity Activity
The table below summarizes the changes in the number of units outstanding from December 31, 2025 through June 30, 2026.
Common - Public
Common - Delek Holdings (1)
Total
Balance at December 31, 2025
19,643,923 
33,868,203 
53,512,126 
Unit-based compensation awards (2)
44,360 
— 
44,360 
Units transferred from Delek Holdings held in Treasury (3)
— 
(359,372)
(359,372)
Balance at June 30, 2026
19,688,283 
33,508,831 
53,197,114 
(1) As of June 30, 2026, Delek Holdings owned a 63.0% interest in the Partnership.
(2) Unit-based compensation awards are presented net of 21,588 units withheld for taxes for the six months ended June 30, 2026.
(3) Represents units transferred from Delek Holdings to the Partnership as consideration for the Tyler Tank transaction. These units are held in Treasury by the Partnership and were transferred at a cost of $52.87 per unit. See Note 3 for further details.
Long-Term Incentive Plan
On June 5, 2026, the holders of a majority of the Partnership's outstanding common units approved an amendment to the Delek Logistics GP, LLC Amended and Restated 2012 Long-Term Incentive Plan (the "LTIP"). The amendment increased the number of common units available for issuance under the LTIP by 1,000,000 units, resulting in an aggregate of 1,912,207 common units authorized for issuance thereunder. The LTIP permits the grant of common units, restricted units, phantom units, unit appreciation rights, distribution equivalent rights and other unit-based awards to employees, directors and other service providers of the Partnership and its affiliates.
Unit Repurchase
On February 24, 2025, the Partnership and Delek Holdings entered into a Common Unit Purchase Agreement (the “Common Unit Purchase Agreement”) whereby the Partnership may repurchase common units from time to time from Delek Holdings in one or more transactions for an aggregate purchase price of up to $150.0 million through December 31, 2026 (each such repurchase, a “Repurchase”). The purchase price per common unit in each Repurchase will be the 30-day volume weighted-average price of the common units at the close of trading on the day prior to the closing date subject to certain limitations set forth in the Common Unit Purchase Agreement. The Partnership may fund Repurchases using cash on hand or borrowings under its existing credit facility, subject to compliance with applicable covenants. During the six months ended June 30, 2025, 243,075 common units were repurchased from Delek Holdings and cancelled at the time of the transaction for a total of $10.0 million. No common units were repurchased for the six months ended June 30, 2026. As of June 30, 2026, there was $140.0 million of authorization remaining under the Common Unit Repurchase Agreement.
Cash Distributions
Our Partnership Agreement sets forth the calculation to be used to determine the amount and priority of available cash distributions that our limited partner unitholders will receive. Our distributions earned with respect to a given period are declared subsequent to quarter end.
The table below summarizes the quarterly distributions related to our quarterly financial results:
Quarter Ended
Total Quarterly Distribution Per Limited Partner Unit
Total Cash Distribution (in thousands)
December 31, 2024
$1.105
$59,302
March 31, 2025
$1.110
$59,320
June 30, 2025
$1.115
$59,612
September 30, 2025
$1.120
$59,898
December 31, 2025
$1.125
$60,202
March 31, 2026
$1.130
$60,080
June 30, 2026 (1)
$1.135
$60,379
(1) On July 22, 2026, the board of directors of our general partner declared this quarterly cash distribution, payable on August 10, 2026, to unitholders of record on August 3, 2026. Total cash distribution is estimated based on the number of common units outstanding as of June 30, 2026.