Form 4: CrossAmerica Partners LP: Executive Keenan D. Lynch Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Keenan D. Lynch, General Counsel and CAO of CrossAmerica Partners LP, reports acquisition and disposal of common units due to performance-based bonus compensation, performance unit awards, and tax withholding.
Summary
- On March 8, 2024, Keenan D. Lynch, General Counsel and CAO of CrossAmerica Partners LP, reported changes in beneficial ownership of common units.
- Lynch acquired 2,314 common units through the 2023 Performance-Based Bonus Compensation Policy.
- Additionally, 5,481 common units were acquired through the 2020 Performance Unit Award.
- A total of 2,297 common units were withheld to cover tax obligations at a price of $22.21 per unit.
- Following these transactions, Lynch directly owns 13,359 common units.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reflects routine transactions related to compensation and tax obligations. There is no indication of significant positive or negative implications.
Positives
- The acquisition of common units through performance-based compensation and unit awards suggests positive performance and alignment with company goals.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which can be informative for investors.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine compensation and tax-related activities of a company executive.
Key Dates
| Date | Description |
|---|---|
| 03/08/2024 | Date of the reported transactions: acquisition and disposal of common units. |
| 03/12/2024 | Date of signature for the Form 4 filing. |
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