Form 4: Genesis Energy Director Jastrow Exercises Phantom Units, Acquires and Disposes of Common Units

Director Kenneth M. Jastrow II reports transaction involving phantom units and Class A common units of Genesis Energy LP.

Summary

• On October 2, 2024, Kenneth M. Jastrow II, a director of Genesis Energy LP, engaged in transactions involving phantom units and Class A common units.
• Jastrow exercised 3,264 phantom units, which resulted in the acquisition of 3,264 Class A common units.
• Simultaneously, Jastrow disposed of 3,264 Class A common units to the issuer at a price of $13.1 per unit.
• Following these transactions, Jastrow directly owns 150,000 Class A common units.
• Additionally, Jastrow acquired 3,009 phantom units on October 1, 2024, which will be paid in cash based on the average closing price of the Common Units Class A for the 20 trading days immediately prior to the vesting date.
• These phantom units include tandem distribution equivalent rights, accruing quarterly distributions paid by the partnership on each Common Unit Class A over the vesting period.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing insider transactions, with no inherent positive or negative sentiment. It simply reports facts.

Future Outlook

The phantom units acquired on October 1, 2024, will be paid in cash based on the average closing price of the Common Units Class A for the 20 trading days immediately prior to the vesting date of October 1, 2025.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the trading activities of company directors. It is common practice for directors to receive and exercise stock-based compensation.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they represent routine compensation-related activities.

Key Dates