Form 4: Genesis Energy LP Director Reports Routine Equity Compensation Transactions

Conrad P. Albert, a Director at Genesis Energy LP, reported the vesting and cash settlement of phantom units, alongside the grant of new phantom units, as part of his compensation plan.

Summary

• Conrad P. Albert, a Director of Genesis Energy LP (GEL), reported changes in his beneficial ownership of the company's securities.
• On July 1, 2025, 2,714 phantom units vested and were settled in cash, based on the average closing price of Common Units Class A for the 20 trading days prior to vesting.
• This cash settlement was reported as a deemed acquisition of 2,714 Common Units Class A and a simultaneous disposition of the same amount of Common Units Class A to the issuer at a price of $16.54 per unit.
• Following these transactions, Mr. Albert beneficially owns 15,000 Common Units Class A.
• Additionally, Mr. Albert was granted 2,500 new phantom units on July 1, 2025, which are scheduled to vest on July 1, 2026.
• These new phantom units will also be paid in cash based on the 20-day average closing price of Common Units Class A prior to their vesting date.
• The new phantom unit award includes tandem distribution equivalent rights, meaning quarterly distributions paid on Common Units Class A will be accrued over the vesting period and paid quarterly.
• After all reported transactions, Mr. Albert beneficially owns 11,401 phantom units.

Sentiment

Score: 5

Explanation: The document reports routine insider transactions related to compensation, which are generally neutral in sentiment. It reflects ongoing compensation practices rather than significant positive or negative operational or financial news.

Positives

• The grant of 2,500 new phantom units indicates continued compensation and alignment of the director's interests with the company's performance.
• The new phantom unit award includes tandem distribution equivalent rights, ensuring the director benefits from quarterly distributions during the vesting period.

Negatives

• The disposition of 2,714 Common Units Class A, albeit a deemed transaction for cash settlement of vested phantom units, represents a reduction in direct common unit holdings.

Future Outlook

The newly granted 2,500 phantom units are scheduled to vest on July 1, 2026, and will be paid in cash based on the average closing price of Common Units Class A for the 20 trading days immediately prior to that vesting date.

Industry Context

This filing is a routine insider transaction report related to director compensation and does not provide broader industry context or trends.

Related Party Transactions

• The transactions involve the vesting and grant of equity awards between a director and the issuer (Genesis Energy LP), which are considered related party transactions as part of a standard compensation arrangement.

Stakeholder Impact

• Shareholders: The transactions represent routine compensation for a director, which is a standard cost of corporate governance. The cash settlement of phantom units involves a deemed disposition of common units, but it's part of a pre-defined compensation mechanism.
• Employees: No direct impact on general employees is indicated by this specific filing.

Next Steps

• The 2,500 newly granted phantom units are expected to vest on July 1, 2026, at which point they will be settled in cash.

Key Dates

Keywords

Genesis Energy LP, GEL, Conrad P. Albert, SEC Form 4, Insider Transaction, Phantom Units, Common Units, Equity Compensation, Director Compensation, Beneficial Ownership