Form 4: Global Partners CEO Eric Slifka Reports Equity Transactions
Insider Transaction Report
Global Partners LP Chairman, President & CEO Eric Slifka reported the conversion of phantom units into common units and subsequent tax-related dispositions on January 5 and 6, 2026.
Summary
- Eric Slifka, Chairman, President & CEO of Global Partners LP, reported transactions involving common units and phantom units.
- On January 5, 2026, 21,459 phantom units vested and converted into common units at a price of $0.
- Concurrently, 7,945 common units were disposed of at $42.26 to satisfy tax withholding obligations.
- Also on January 5, 2026, 19,290 phantom units vested and converted into common units at a price of $0.
- Concurrently, 9,326 common units were disposed of at $42.26 to satisfy tax withholding obligations.
- On January 6, 2026, 15,042 phantom units vested and converted into common units at a price of $0.
- Concurrently, 7,272 common units were disposed of at $42.97 to satisfy tax withholding obligations.
- Slifka's direct beneficial ownership of common units after these transactions is 31,248.
- Indirect beneficial ownership includes 1,264,383 units by family trusts, 564,984 units by Larea Holdings LLC, and 1,831,957 units by Alfred A. Slifka 1990 Trust Under Article II-A.
Sentiment
Score: 5
Explanation: Neutral. This Form 4 reports routine, pre-scheduled insider transactions (vesting and tax withholding) which are neither inherently positive nor negative for the company's operational performance or future prospects.
Positives
- The vesting and conversion of phantom units into common units indicate the successful fulfillment of equity award conditions for the reporting person.
Negatives
- A portion of the vested common units was disposed of to cover tax withholding obligations, resulting in a reduction of direct beneficial ownership.
Future Outlook
Future vesting events for phantom units are scheduled for January 5, 2027, January 6, 2027, and January 6, 2028, as per existing grant agreements.
Industry Context
NA
Stakeholder Impact
- Shareholders: The transactions represent a routine change in the beneficial ownership structure of a key executive, with a portion of equity awards being converted and another portion sold for tax purposes. This is a standard event and is unlikely to have a significant direct impact on other shareholders.
Next Steps
- Vesting of one-third of 57,870 Phantom Units on January 5, 2027.
- Vesting of one-third of 45,126 Phantom Units on January 6, 2027.
- Vesting of one-third of 45,126 Phantom Units on January 6, 2028.
Key Dates
| Date | Description |
|---|---|
| 03/03/2023 | Grant Agreement for 64,377 Phantom Units to the Reporting Person. |
| 01/05/2024 | One-third of the 64,377 Phantom Units granted on March 3, 2023, vested. |
| 03/25/2024 | Grant Agreement for 57,870 Phantom Units to the Reporting Person. |
| 01/05/2025 | One-third of the 64,377 Phantom Units granted on March 3, 2023, vested. |
| 01/06/2025 | One-third of the 57,870 Phantom Units granted on March 25, 2024, vested. |
| 02/26/2025 | Grant Agreement for 45,126 Phantom Units to the Reporting Person. |
| 01/05/2026 | Vesting and conversion of 21,459 and 19,290 phantom units into common units; disposition of 7,945 and 9,326 common units for tax withholding. |
| 01/06/2026 | Vesting and conversion of 15,042 phantom units into common units; disposition of 7,272 common units for tax withholding. |
| 01/05/2027 | Future vesting of one-third of the 57,870 Phantom Units granted on March 25, 2024. |
| 01/06/2027 | Future vesting of one-third of the 45,126 Phantom Units granted on February 26, 2025. |
| 01/06/2028 | Future vesting of one-third of the 45,126 Phantom Units granted on February 26, 2025. |
Keywords
Global Partners LP, GLP, Eric Slifka, Form 4, insider transaction, beneficial ownership, phantom units, common units, equity awards, executive compensation
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