Matthew Spencer - 04 Aug 2021 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 Aug 2021
Net transactions value
-$32,842
Form type
4
Filing time
06 Aug 2021, 13:18:18 UTC
Next filing
05 Aug 2022
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 +4,180 +51% $0.000000 12,364 04 Aug 2021 Direct F1
transaction GLP Common units representing limited partner interests Tax liability $32,842 -1,225 -9.9% $26.81 11,139 04 Aug 2021 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 Options Exercise $0 -4,180 -47% $0.000000 4,775 04 Aug 2021 Common units representing limited partner interests 4,180 $0.000000 Direct F1, F4, F5
* 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 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 30, 2021 (the date immediately prior to vesting).
F4 Each Phantom Unit is the economic equivalent of one Common Unit.
F5 Pursuant to a Grant Agreement dated August 16, 2017, the Reporting Person was granted 11,941 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 1, 2021 and 100% on August 1, 2022.

Remarks:

Remarks: Mr. Matthew Spencer is the Chief Accounting Officer of Global GP LLC, the general partner of Global Partners LP, the Issuer.