Form 4: Director Jaime Pereira Boosts GLP Stake via Unit Vesting
Statement of Changes in Beneficial Ownership
Global Partners LP Director Jaime Pereira increased direct beneficial ownership by 2,149 common units following the vesting of phantom units.
Summary
- Jaime Pereira, a Director at Global Partners LP (GLP), reported a change in beneficial ownership.
- On January 6, 2026, Pereira acquired 2,149 common units representing limited partner interests.
- This acquisition resulted from the vesting of 2,149 phantom units, which were granted on February 26, 2025.
- The phantom units vested 100% on January 6, 2026, converting into common units on a one-for-one basis at a price of $0.
- Following this transaction, Pereira directly beneficially owns 13,814 common units.
- Pereira also indirectly owns 2,000 common units through the Cynthia A. Pereira Revocable Trust dated April 30, 2014.
Sentiment
Score: 7
Explanation: The vesting and conversion of phantom units into common units for a director is generally a positive signal, indicating continued alignment of interests with shareholders and the fulfillment of compensation milestones. It's not an open market purchase, but still increases insider ownership.
Positives
- Director Jaime Pereira increased direct beneficial ownership by 2,149 common units.
- The vesting of phantom units indicates the fulfillment of performance or time-based conditions set in the grant agreement.
Future Outlook
The filing does not contain specific forward-looking statements or guidance beyond the reported transaction.
Industry Context
This Form 4 filing is a routine disclosure of an insider transaction, specifically the vesting and conversion of equity awards. Such transactions are common across all industries as part of executive compensation and do not inherently reflect broader industry trends without additional context.
Comparison to Industry Standards
- This is a standard Form 4 filing for an insider transaction involving the vesting of equity awards. The structure and disclosure are consistent with SEC requirements for reporting changes in beneficial ownership by directors, officers, and 10% owners.
- There are no specific comparable companies or projects mentioned within the filing itself to assess against industry benchmarks.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Jaime Pereira granted a Limited Power of Attorney to Erin Powers Brennan for Section 16 reporting purposes, enabling the attorney-in-fact to prepare, execute, and file Forms 3, 4, and 5 on Pereira's behalf. | 2025-04-01 | Streamlines compliance with SEC reporting requirements for insider transactions, ensuring timely and accurate filings. |
Related Party Transactions
- Jaime Pereira indirectly owns 2,000 common units through the Cynthia A. Pereira Revocable Trust dated April 30, 2014.
Stakeholder Impact
- Shareholders: Increased direct ownership by a director may be viewed positively as it aligns management's interests with those of shareholders.
- Employees: The transaction is part of an equity compensation plan, which is a common incentive for executives.
Key Dates
| Date | Description |
|---|---|
| 2014-04-30 | Date of the Cynthia A. Pereira Revocable Trust. |
| 2025-02-26 | Date of the Grant Agreement for 2,149 Phantom Units to Jaime Pereira. |
| 2025-04-01 | Date of the Limited Power of Attorney granted to Erin Powers Brennan by Jaime Pereira. |
| 2026-01-06 | Date of transaction where 2,149 Phantom Units vested and converted into Common Units. |
| 2026-01-07 | Signature date of the reporting person's attorney-in-fact for the Form 4 filing. |
Keywords
Global Partners LP, GLP, Jaime Pereira, Form 4, SEC filing, insider transaction, beneficial ownership, phantom units, common units, vesting, director ownership
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