MARTIN MIDSTREAM PARTNERS L.P. 10-K

Item 5. Market for Our Common Equity, Related Unitholder Matters and Issuer Purchases of Equity Securities Market Information and Holders Our common units are traded on the NASDAQ under the symbol "MMLP." As of March 2, 2023, there were approximately 198 holders of record and approximately 9,499 beneficial owners of our common units. Cash Distribution Policy Within 45 days after the end of each quarter, we distribute all of our available cash, as defined in our Partnership Agreement, to unitholders of record on the applicable record date. Our general partner has broad discretion to establish cash reserves that it determines are necessary or appropriate to properly conduct our business. These can include cash reserves for future capital and maintenance expenditures, reserves to stabilize distributions of cash to the unitholders and our general partner, reserves to reduce debt, or, as necessary, reserves to comply with the terms of any of our agreements or obligations. Our distributions are made 98% to unitholders and 2% to our general partner. Our ability to distribute available cash is contractually restricted by the terms of our credit facility. Our credit facility contains covenants requiring us to maintain certain financial ratios. We are prohibited from making any distributions to unitholders if the distribution would cause a default or an event of default, or a default or an event of default exists, under our credit facility. Please read "Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Description of Our Credit Facility." Quarterly Distribution. On January 23, 2023, we declared a quarterly cash distribution of $0.005 per common unit for the fourth quarter of 2022, or $0.02 per common unit on an annualized basis, which was paid on February 14, 2023 to unitholders of record as of February 7, 2023. Item 6. [Reserved] 45