Form 4: Global Partners LP: CFO Gregory B. Hanson Reports Transaction in Common Units
SEC Form 4 Filing
Gregory B. Hanson, CFO of Global Partners LP, reports the vesting of phantom units and subsequent withholding of common units to cover tax obligations.
Summary
- On May 3, 2025, Gregory B. Hanson, the Chief Financial Officer of Global Partners LP, reported a transaction involving common units representing limited partner interests.
- Hanson acquired 8,412 common units through the vesting of phantom units, which convert on a one-for-one basis.
- Simultaneously, 4,067 common units were withheld to satisfy tax obligations at a price of $51.32 per unit.
- Following these transactions, Hanson beneficially owns 58,137 common units.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing, indicating routine executive compensation activity. It doesn't suggest any significant positive or negative developments for the company.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and holdings, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
- Similar filings are made by executives at companies like Energy Transfer Partners (ET) and Enterprise Products Partners (EPD), which are also in the energy infrastructure space, when they have transactions in their company's securities.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects standard executive compensation practices.
- Employees may be interested in the details of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 04/01/2025 | Date of Limited Power of Attorney execution. |
| 05/03/2023 | Date of Grant Agreement for Phantom Units. |
| 05/03/2025 | Date of transaction: vesting of phantom units and tax withholding. |
| 05/06/2025 | Date of signature for the report. |
Keywords
Form 4, Global Partners LP, GLP, Gregory B. Hanson, Chief Financial Officer, Common Units, Phantom Units, Vesting, Tax Withholding, Beneficial Ownership, Section 16
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