Form 4: Clare McGrory Kelly Reports Acquisition of Phantom Units in Global Partners LP

Director Clare McGrory Kelly reports the acquisition of 2,149 phantom units in Global Partners LP, convertible to common units, as per a grant agreement.

Summary

• Clare McGrory Kelly, a director of Global Partners LP, filed a Form 4 indicating changes in beneficial ownership.
• On February 26, 2025, Kelly acquired 2,149 phantom units, each representing the right to receive one common unit upon vesting.
• These phantom units were granted pursuant to a Grant Agreement dated February 26, 2025.
• 100% of the phantom units will vest on January 6, 2026, contingent upon satisfying the vesting conditions outlined in the Grant Agreement.
• Following the reported transaction, Kelly beneficially owns 2,149 derivative securities (phantom units) and 6,664 common units representing limited partner interests.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating a standard compensation practice. Sentiment is neutral.

Positives

• The acquisition of phantom units suggests continued alignment of the director's interests with the company's performance.

Future Outlook

The vesting of the phantom units on January 6, 2026, is contingent upon satisfying the conditions set forth in the Grant Agreement.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The granting of phantom units aligns the director's interests with those of the shareholders.

Key Dates