Mark Romaine - Jun 8, 2022 Form 4 Insider Report for GLOBAL PARTNERS LP (GLP)

Role
Chief Operating Officer
Signature
Amy J. Gould, Attorney-in-Fact for Mark Romaine
Stock symbol
GLP
Transactions as of
Jun 8, 2022
Transactions value $
-$312,469
Form type
4
Date filed
8/5/2022, 10:49 AM
Previous filing
Aug 6, 2021
Next filing
Jan 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLP Common units representing limited partner interests Options Exercise $0 +25.4K +33.09% $0.00 102K Aug 2, 2022 Direct F1
transaction GLP Common units representing limited partner interests Tax liability -$312K -11.2K -11.02% $27.78 90.8K Aug 2, 2022 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GLP Phantom Units Award $0 +27.6K +108.86% $0.00 53K Jun 8, 2022 Common units representing limited partner interests 27.6K $0.00 Direct F1, F4, F5
transaction GLP Phantom Units Options Exercise $0 -25.4K -47.88% $0.00 27.6K Aug 2, 2022 Common Units representing limited partner interests 25.4K $0.00 Direct F1, F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each phantom unit representing the right to receive one Common Unit upon vesting ("Phantom Unit") converts into a common unit representing a limited partner interest in the Issuer ("Common Unit"), or an equivalent amount of cash, on a one-for-one basis.
F2 Each Common Unit was withheld at the request of the Reporting Person to satisfy the tax withholding obligations of the Reporting Person.
F3 The Issuer's closing market price on July 29, 2022 (the last business date immediately prior to vesting).
F4 Each Phantom Unit is the economic equivalent of one Common Unit.
F5 Pursuant to a Grant Agreement dated June 8, 2022, the Reporting Person was granted 27,613 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units vested as follows: One-Third on January 1, 2023, One-Third on January 1, 2024 and One-Third on January 1, 2025.
F6 Pursuant to a Grant Agreement dated August 16, 2017, the Reporting Person was granted 63,415 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units cumulatively vest as follows: 25% on August 1, 2020, 60% on August 20, 2021 and 100% on August 1, 2022.