Matthew Spencer - 04 Jan 2023 Form 4 Insider Report for GLOBAL PARTNERS LP (GLP)

Role
Chief Accounting Officer
Signature
Amy J. Gould, Attorney-in-Fact for Matthew Spencer
Issuer symbol
GLP
Transactions as of
04 Jan 2023
Net transactions value
-$35,388
Form type
4
Filing time
06 Jan 2023, 17:06:57 UTC
Previous filing
05 Aug 2022
Next filing
27 Feb 2023
SEC
View on sec.gov

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 +2,959 +20% $0.000000 17,474 04 Jan 2023 Direct F1, F4
transaction GLP Common units representing limited partner interests Tax liability $35,388 -1,021 -5.8% $34.66 16,453 04 Jan 2023 Direct F2

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 Options Exercise $0 -2,959 -33% $0.000000 5,917 04 Jan 2023 Common units representing limited partner interests 2,959 $0.000000 Direct F1, F3, F4
* 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") on a one-for-one basis.
F2 Each Unit was withheld at the request of the Reporting Person to satisfy the tax withholding obligations of the Reporting Person.
F3 Each Phantom Unit is the economic equivalent of one Common Unit.
F4 Pursuant to a Grant Agreement dated June 8, 2022, the Reporting Person was granted 8,876 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units cumulatively vested or will vest as follows: one-third on January 1, 2023, one-third on January 1, 2024 and one-third on January 1, 2025.