Form 4: Global Partners LP Executive Matthew Spencer Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Matthew Spencer, Chief Accounting Officer of Global Partners LP, reports the vesting of phantom units and the withholding of common units to cover tax obligations.
Summary
- On March 24, 2025, Matthew Spencer, Chief Accounting Officer of Global Partners LP, reported changes in beneficial ownership.
- 4,034 phantom units vested, converting into common units on a one-for-one basis.
- 1,950 common units were withheld at $53.11 per unit to satisfy tax withholding obligations.
- Following these transactions, Spencer directly owns 40,229 common units.
- The phantom units vested according to a Grant Agreement dated March 25, 2024.
Sentiment
Score: 5
Explanation: This is a routine filing reflecting standard compensation and tax withholding procedures, with no indication of unusual or concerning activity.
Industry Context
Form 4 filings are a routine part of compliance for company executives and large shareholders, providing transparency into their transactions in the company's securities. This filing indicates changes in Matthew Spencer's holdings of Global Partners LP units.
Stakeholder Impact
- The transactions reported have a minimal direct impact on stakeholders, as they primarily reflect internal compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/25/2024 | Date of the Grant Agreement for the phantom units. |
| 03/24/2025 | Date of the transaction involving vesting of phantom units and withholding of common units. |
| 03/25/2025 | Date of signature for the Form 4 filing. |
Keywords
beneficial ownership, Global Partners LP, Matthew Spencer, phantom units, common units, Form 4, SEC, vesting, tax withholding
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