Eric Slifka - Aug 5, 2021 Form 4 Insider Report for GLOBAL PARTNERS LP (GLP)

Role
Vice Chairman, President & CEO, Director
Signature
Amy J. Gould, Attorney-in-Fact for Eric Slifka
Stock symbol
GLP
Transactions as of
Aug 5, 2021
Transactions value $
-$681,564
Form type
4
Date filed
8/9/2021, 01:18 PM
Next filing
Aug 5, 2022

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 +57.3K +7.68% $0.00 803K Aug 5, 2021 Direct F1
transaction GLP Common units representing limited partner interests Tax liability -$682K -25.4K -3.16% $26.81 778K Aug 5, 2021 Direct F2, F3
transaction GLP Common units representing limited partner interests Other $0 +43.7K +6.61% $0.00 704K Mar 2, 2021 Benefically owned unit amounts include units owned by Larea Holdings LLC and certain family trusts. F4

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 -57.3K -46.67% $0.00 65.5K Aug 5, 2021 Common units representing limited partner interests 57.3K $0.00 Direct F1, F5, 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") 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 On March 2, 2021, an additional 43,650 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.
F5 Each Phantom Unit is the economic equivalent of one Common Unit.
F6 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.

Remarks:

Remarks: Mr. Eric Slifka is Vice Chairman, President and Chief Executive Officer of Global GP LLC, the general partner of Global Partners LP, the Issuer.