Form 4: Global Partners LP Executive Matthew Spencer Reports Acquisition and Disposal of Common Units
SEC Form 4 Filing
Matthew Spencer, Chief Accounting Officer of Global Partners LP, reports acquiring 17,752 common units and disposing of 7,450 common units on February 26, 2025.
Summary
- On February 26, 2025, Matthew Spencer, the Chief Accounting Officer of Global Partners LP, engaged in transactions involving the company's common units.
- Spencer acquired 17,752 common units representing limited partner interests.
- These units were earned under a performance phantom unit award granted on June 8, 2022, where the reporting person earned 200% of the target number of performance units.
- Concurrently, Spencer disposed of 7,450 common units at a price of $58.17 per unit.
- This disposal was to cover tax withholding obligations.
- Following these transactions, Spencer beneficially owns 38,145 common units.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reports routine transactions related to executive compensation and tax obligations.
Positives
- The acquisition of 17,752 common units indicates a positive performance achievement related to distributable cash flow goals.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions and provides transparency to the market regarding the holdings and transactions of company executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax-related disposals.
Key Dates
| Date | Description |
|---|---|
| 2022-06-08 | Date of the performance phantom unit award grant to Matthew Spencer. |
| 2025-02-26 | Date of the common unit acquisition and disposal transactions. |
| 2025-02-28 | Date of signature on the Form 4 filing. |
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