SEC Form 4 · accession 0001323468-17-000033
GLOBAL PARTNERS LP · GLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eric Slifka
Officer — President and CEO · Director
Period of report
Aug 16, 2017
Accepted (ET)
Aug 18, 2017 · 3:22 pm EDT
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 interests | holding | — | — | — | 639,177 | D | ||
| Common units representing limited partner interests | holding | — | — | — | 564,984 | I | Mr. Slifka has sole voting and investment power with respect to units owned by Larea Holdings LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1,F2,F3 | $0.00 | Aug 16, 2017 | A | 163,780 | A | — | — | Common units representing limited partner interests | 163,780 | 163,780 | D |
Explanation of responses
- F1Each phantom unit representing the right to receive one common unit upon vesting ("Phantom Unit") is the economic equivalent of one common unit representing a limited partner interest in the Issuer ("Common Unit") upon vesting.
- F2Each Phantom Unit converts into a Common Unit on a one-for-one basis.
- F3Pursuant to a Grant Agreement dated August 16, 2017, the Reporting Person was granted 163,780 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units vest as follows: 25% on August 1, 2020, 60% on August 1, 2021 and 100% on August 1, 2022.
Remarks
Remarks: Mr. Eric Slifka is a Director and the President and Chief Executive Officer of Global GP LLC, the general partner of Global Partners LP, the Issuer.