Eric Slifka - Mar 21, 2022 Form 4 Insider Report for GLOBAL PARTNERS LP (GLP)

Signature
Amy J. Gould, Attorney-in-Fact for Eric Slifka
Stock symbol
GLP
Transactions as of
Mar 21, 2022
Transactions value $
-$807,120
Form type
4
Date filed
8/5/2022, 10:49 AM
Previous filing
Aug 9, 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 +65.5K +8.42% $0.00 844K Aug 2, 2022 Direct F1
transaction GLP Common units representing limited partner interests Tax liability -$807K -29.1K -3.44% $27.78 814K Aug 2, 2022 Direct F2, F3
transaction GLP Common units representing limited partner interests Other $0 +67.1K +48.26% $0.00 206K Mar 21, 2022 By family trusts F4
holding GLP Common Units representing limited partner interests 565K Mar 21, 2022 By Larea Holdings LLC
holding GLP Common Units representing limited partner interests 1.83M Mar 21, 2022 By Alfred A. Slifka 1990 Trust Under Article II-A F5

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 +69K +105.38% $0.00 135K Jun 8, 2022 Common units representing limited partner interests 69K $0.00 Direct F1, F6, F7
transaction GLP Phantom Units Options Exercise $0 +65.5K +1860.08% $0.00 69K Aug 2, 2022 Common Units representing limited partner interests 65.5K $0.00 Direct F1, F6, F8
* 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 On March 21, 2022, an additional 67,123 common units representing limited partner interests in the Issuer ("Common Units") were transferred to trusts for the benefit of Max Slifka (the "Max Slifka Trust"), Colby Slifka (the "Colby Slifka Trust"), and Claudia Slifka (the "Claudia Slifka Trust").The Reporting Person is the sole trustee of the Max Slifka Trust, the Colby Slifka Trust, and the Claudia Slifka Trust, which are trusts in which a member of the Reporting Person's immediate family is the beneficiary. The Reporting Person disclaims beneficial ownership to the extent it exceeds his pecuniary interest.
F5 The Reporting Person disclaims beneficial ownership to the extent it exceeds his pecuniary interest.
F6 Each Phantom Unit is the economic equivalent of one Common Unit.
F7 Pursuant to a Grant Agreement dated August 16, 2017, the Reporting Person was granted 163,780 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.
F8 Pursuant to a Grant Agreement dated June 8, 2022, the Reporting Person was granted 69,034 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.