Form 4: Global Partners LP Executive Sean T. Geary Reports Vesting of Phantom Units and Tax Withholding

Sean T. Geary, Chief Legal Officer & Secretary of Global Partners LP, reports the vesting of phantom units and a transaction to cover tax obligations.

Summary

• On May 3, 2025, Sean T. Geary, Chief Legal Officer & Secretary of Global Partners LP, reported transactions related to phantom units and common units.
• 8,412 phantom units vested, converting into common units on a one-for-one basis.
• 4,067 common units were withheld to satisfy tax obligations at a price of $51.32 per unit.
• Following these transactions, Geary directly owns 48,333.4898 common units.
• A Limited Power of Attorney was granted to Erin Powers Brennan for Section 16 reporting purposes, effective April 1, 2025.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and compliance with SEC regulations, indicating a neutral to slightly positive sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded partnerships like Global Partners LP.

Comparison to Industry Standards

• Executive compensation packages often include phantom units or similar equity-based awards to align management interests with those of the unitholders.
• Tax withholding practices are standard procedure when equity awards vest.
• Comparable companies such as Energy Transfer Partners or Enterprise Products Partners also regularly report similar transactions by their executives.

Stakeholder Impact

• The vesting of phantom units aligns executive interests with unitholder value.
• Tax withholding ensures compliance with tax regulations.

Key Dates

Keywords

Form 4, Global Partners LP, Sean T. Geary, Phantom Units, Common Units, Vesting, Tax Withholding, Section 16, Power of Attorney, GLP