Charles M. Nifong Jr. - Oct 25, 2022 Form 4 Insider Report for CrossAmerica Partners LP (CAPL)

Role
President and CEO, Director
Signature
/s/ Christina Casey-Best as Attorney in Fact for Charles M. Nifong, Jr.
Stock symbol
CAPL
Transactions as of
Oct 25, 2022
Transactions value $
$0
Form type
4
Date filed
10/25/2022, 11:16 AM
Previous filing
Mar 15, 2022
Next filing
Jan 3, 2023

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 CAPL Phantom Units Award $0 +13.1K +49.79% $0.00 39.4K Oct 25, 2022 Common Units 13.1K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each phantom unit is the economic equivalent of one common unit ("Common Unit") representing a limited partner interest in CrossAmerica Partners L.P. and is accompanied by tandem distribution equivalent rights that entitle the holder to cash payments equal to the amount of distributions authorized to be paid to the holders of Common Units.
F2 50% of the grant will vest ratably over three years, each as of December 31, until December 31, 2025. 50% of the grant will vest upon death or disability, or retirement if such retirement is not adverse to the interests of the Issuer, as determined by the Board in its sole discretion. This 50% portion will expire, if unvested 20 years from the grant date.