Form 4: Global Partners LP: Global GP LLC Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Global GP LLC, a general partner of Global Partners LP, reports changes in its beneficial ownership of common units due to the delivery and withholding of units under the company's Long-Term Incentive Plan.
Summary
- Global GP LLC, a general partner of Global Partners LP, filed a Form 4 to report changes in its beneficial ownership of the company's common units.
- On January 1, 2025, Global GP LLC delivered 43,058 common units under the Global Partners LP Long-Term Incentive Plan (LTIP) to satisfy obligations from grant agreements dated June 8, 2022, at a price of $46.55 per unit, decreasing its holdings to 284,249 units.
- On the same date, Global GP LLC withheld 18,224 common units from grant award recipients who elected a cashless exercise to satisfy their tax withholding obligations, increasing its holdings to 302,473 units.
- The price per unit for these transactions was $46.55, based on the Issuer's closing market price on December 31, 2024.
- Global GP LLC disclaims any pecuniary interest in the common units, and the report should not be deemed an admission of beneficial ownership for Section 16 purposes.
Sentiment
Score: 6
Explanation: The document is a routine filing related to stock-based compensation and tax obligations, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the changes in ownership structure.
Key Dates
| Date | Description |
|---|---|
| June 8, 2022 | Date of the grant agreements related to the Long-Term Incentive Plan. |
| December 31, 2024 | Date used to determine the closing market price of $46.55 per unit. |
| January 1, 2025 | Date of the reported transactions: delivery and withholding of common units. |
| January 3, 2025 | Date of the report filing. |
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