GLP.NYSEGlobal Partners Lp

Form 4: Global Partners LP: Matthew Spencer Reports Changes in Beneficial Ownership

Sentiment:

SEC Form 4

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Matthew Spencer, Chief Accounting Officer of Global Partners LP, reports the vesting and conversion of phantom units into common units, along with a transaction to cover tax obligations.

Summary

  • On February 28, 2024, Matthew Spencer, Chief Accounting Officer of Global Partners LP, reported changes in beneficial ownership.
  • 3,263 phantom units vested and were converted into common units representing limited partner interests.
  • 957 common units were withheld to satisfy tax obligations at a price of $45.85 per unit.
  • Following these transactions, Spencer directly owns 22,551 common units.
  • The phantom units vested on February 23, 2024, according to a grant agreement dated February 23, 2023.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing transactions related to executive compensation; it doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies.

Stakeholder Impact

  • The transactions affect Matthew Spencer's direct ownership stake in Global Partners LP.
  • The tax withholding impacts the company's cash flow, albeit minimally.

Key Dates

DateDescription
February 23, 2023Date of the Grant Agreement for 3,263 Phantom Units.
February 23, 2024Phantom Units vested 100%.
February 28, 2024Date of transaction: vesting of phantom units and tax withholding.
February 29, 2024Date of signature on the Form 4 filing.

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