Form 4: Global Partners LP Executive Mark Romaine Reports Unit Transactions
SEC Form 4 Filing
Mark Romaine, Chief Operating Officer of Global Partners LP, reports the vesting and conversion of phantom units into common units, as well as a transaction to cover tax obligations.
Summary
- On January 1, 2025, Mark Romaine, Chief Operating Officer of Global Partners LP, reported transactions involving common units representing limited partner interests.
- 9,203 phantom units converted into common units at a price of $0.
- 3,133 common units were disposed of to satisfy tax withholding obligations at a price of $46.55.
- Following these transactions, Romaine directly owns 120,209 common units.
- The phantom units vested according to a grant agreement dated June 8, 2022, with one-third vesting on January 1, 2023, one-third on January 1, 2024, and the final third on January 1, 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing insider transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving equity-based compensation. It provides transparency into the holdings and transactions of company insiders.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| June 8, 2022 | Date of the Grant Agreement for the phantom units. |
| January 1, 2023 | First vesting date for one-third of the phantom units. |
| January 1, 2024 | Second vesting date for one-third of the phantom units. |
| January 1, 2025 | Date of the reported transactions: vesting of final one-third of phantom units and tax withholding. |
| January 3, 2025 | Date of the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.