Form 4: Global Partners LP: Officer Matthew Spencer Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Matthew Spencer, Chief Accounting Officer of Global Partners LP, reports the vesting and conversion of phantom units and the withholding of common units for tax obligations.
Summary
- On January 1, 2025, Matthew Spencer, Chief Accounting Officer of Global Partners LP, reported changes in beneficial ownership.
- 2,958 phantom units vested and converted into common units.
- 1,077 common units were withheld to satisfy tax obligations at a price of $46.55 per unit.
- Following these transactions, Spencer directly owns 24,432 common units.
- The reported transactions were related to phantom units granted on June 8, 2022, which vested in three tranches: January 1, 2023, January 1, 2024, and January 1, 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing standard compensation practices; it doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- Shareholders are informed about changes in insider ownership, which can influence investor confidence.
Key Dates
| Date | Description |
|---|---|
| June 8, 2022 | Date of the Grant Agreement for 8,876 Phantom Units. |
| January 1, 2023 | One-third of the Phantom Units vested. |
| January 1, 2024 | One-third of the Phantom Units vested. |
| January 1, 2025 | Final one-third of the Phantom Units vested; 2,958 phantom units converted to common units; 1,077 common units withheld for taxes. |
| January 3, 2025 | Date of the Form 4 filing. |
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