Form 4: Genesis Energy LP Director James E. Davison, Jr. Reports Transactions in Common Units and Phantom Units

Director James E. Davison, Jr. reports transactions involving Genesis Energy LP's Common Units Class A and Phantom Units, including acquisitions and dispositions related to vesting and trust holdings.

Summary

• James E. Davison, Jr., a director of Genesis Energy LP, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• On July 3, 2024, Davison acquired 3,096 Common Units Class A upon the vesting of phantom units.
• Simultaneously, he disposed of 3,096 Common Units Class A at a price of $13.51.
• The transactions are related to the payment of phantom units in cash, which is deemed a disposition of phantom units in exchange for the acquisition of Common Units Class A and a simultaneous disposition of the underlying Common Units Class A to the issuer.
• Davison also reports indirect beneficial ownership of Common Units Class A held by various trusts, including the James Ellis Davison, III Trust, the Sarah Margaret Davison Trust, the William Charles Davison Trust, and the James E. and Margaret A.B. Davison Special Trust.
• He disclaims beneficial ownership of these Common Units Class A except to the extent of his pecuniary interest therein.
• On July 1, 2024, Davison acquired 2,584 Phantom Units which vest on July 1, 2025.
• Following the reported transactions, Davison directly owns 3,883,045 Common Units Class A and 8,144 Phantom Units, and indirectly owns 446,461 Common Units Class A through the James Ellis Davison, III Trust, 446,462 through the Sarah Margaret Davison Trust, 446,460 through the William Charles Davison Trust, and 187,856 through the James E. and Margaret A.B. Davison Special Trust.
• The phantom units 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.

Sentiment

Score: 5

Explanation: This is a routine disclosure of insider transactions, with no inherently positive or negative implications for the company's overall prospects.

Future Outlook

The phantom units 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.

Management Comments

• The reporting person disclaims beneficial ownership of these Common Units Class A except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these Common Units Class A for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are standard disclosures required by the SEC for insiders of publicly traded companies, providing transparency into their transactions and holdings.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies, ensuring compliance with SEC regulations.
• Similar filings are made by insiders at comparable companies like Energy Transfer LP (ET) and Enterprise Products Partners L.P. (EPD) to report changes in their ownership positions.

Key Dates