SEC Form 4 · accession 0001323468-17-000037
GLOBAL PARTNERS LP · GLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark Romaine
Officer — COO
Period of report
Aug 16, 2017
Accepted (ET)
Aug 18, 2017 · 3:25 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 | — | — | — | 30,954 | D |
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 | 63,415 | A | — | — | Common units representing limited partner interests | 63,415 | 63,415 | 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 63,415 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. Mark Romaine is the Chief Operating Officer of Global GP LLC, the general partner of Global Partners LP, the Issuer.