SEC Form 4 · accession 0001323468-16-000024
GLOBAL PARTNERS LP · GLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kenneth I Watchmaker
Director
Period of report
Dec 31, 2015
Accepted (ET)
Jan 5, 2016 · 8:10 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001323468
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common units representing limited partner interestsF1 | Dec 31, 2015 | M | 2,715 | $17.57 | A | 19,511 | D | |
| Common units representing limited partner interestsF1 | Jan 2, 2016 | M | 3,553 | $17.57 | A | 23,064 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom units representing limited partner interestsF3,F2,F4 | $0.00 | Dec 31, 2015 | M | 2,715 | D | Dec 31, 2015 | Dec 31, 2016 | Common units representing limited partner interests | 2,715 | 2,715 | D |
| Phantom units representing limited partner interestsF3,F2,F5 | $0.00 | Jan 2, 2016 | M | 3,553 | D | Jan 2, 2016 | Jan 2, 2018 | Common units representing limited partner interests | 3,553 | 7,106 | D |
Explanation of responses
- F1Closing market price on December 31, 2015.
- F2Phantom units representing limited partner interests in Global Partners LP ("Phantom Units") convert into common units representing limited partner interests in Global Partners LP ("Common Units").
- F3Each Phantom Unit is the economic equivalent of one Common Unit.
- F4Pursuant to a Grant Agreement dated June 27, 2013, the Reporting Person was granted 8,145 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units vest as follows: 33 1/3% each on December 31, 2014, December 31, 2015 and December 31, 2016.
- F5Pursuant to a Grant Agreement dated April 20, 2015, the Reporting Person was granted 10,659 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units vest as follows: 33 1/3% each on January 2, 2016, January 2, 2017 and January 2, 2018.