Form 4: Genesis Energy LP Director Reports Changes in Beneficial Ownership

Conrad P. Albert, a director at Genesis Energy LP, reported transactions involving Common Units Class A and Phantom Units on April 1, 2024.

Summary

• On April 1, 2024, Conrad P. Albert, a director of Genesis Energy LP, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The transactions involved Common Units Class A and Phantom Units.
• Specifically, 2,726 Phantom Units were paid out in cash, which is considered a disposition of the phantom units and a simultaneous disposition of the underlying Common Units Class A to the issuer.
• The cash payment was based on the average closing price of the Common Units Class A for the 20 trading days prior to vesting.
• Additionally, 2,808 Phantom Units were acquired, which will also be paid in cash based on the average closing price of the Common Units Class A for the 20 trading days prior to the vesting date.
• The director's direct holdings of Common Units Class A decreased from 17,726 to 15,000 as a result of these transactions.
• The director now holds 14,429 Phantom Units.

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing detailing transactions by a company director. It doesn't inherently indicate positive or negative sentiment.

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.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the transactions of a company director.

Key Dates