Form 4: CrossAmerica Partners Executive Reports Stock Transactions
SEC Form 4 Filing
An executive at CrossAmerica Partners, Robert Brecker, reported the acquisition and disposal of common units due to vesting of phantom units and tax obligations.
Summary
- Robert Brecker, an Executive Vice President at CrossAmerica Partners, reported transactions involving the company's common units on December 31, 2024.
- He acquired 1,639 common units through the vesting of phantom units.
- Additionally, 479 common units were disposed of to cover tax obligations related to the vesting.
- The price of the common units was $21.65, based on the closing price of the day preceding the vest event.
- Following these transactions, Brecker directly owns 15,319 common units and 12,497 phantom units.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to executive stock transactions, which is neither positive nor negative in itself. It reflects standard compensation practices.
Industry Context
This is a routine filing related to executive compensation and is typical for publicly traded companies. It reflects the vesting of equity-based compensation and the associated tax obligations.
Comparison to Industry Standards
- The vesting of phantom units and subsequent tax withholding is a common practice in executive compensation packages across various industries.
- Many companies use similar mechanisms to align executive interests with shareholder value and to provide long-term incentives.
- The specific number of units and the price are specific to CrossAmerica Partners and its compensation structure.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the standard compensation practices for executives.
- The vesting of phantom units is part of the overall compensation package for the executive.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of the reported transactions, including the vesting of phantom units and the disposal of common units for tax obligations. |
| 01/02/2025 | Date the form was signed by Christina Casey-Best as Attorney-in-Fact for Robert Brecker. |
Keywords
CrossAmerica Partners, CAPL, common units, phantom units, insider trading, executive compensation, vesting, tax withholding
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