SEC Form 4 · accession 0001323468-18-000006
GLOBAL PARTNERS LP · GLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David K McKown
Director
Period of report
Jan 2, 2018
Accepted (ET)
Jan 4, 2018 · 12:20 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 | Jan 2, 2018 | M | 3,553 | $0.00 | A | 14,125 | D | |
| Common units representing limited partner interestsF1,F2 | Jan 2, 2018 | D | 3,553 | $16.70 | D | 10,572 | 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,F4,F1 | $0.00 | Jan 2, 2018 | M | 3,553 | D | Jan 2, 2018 | Jan 2, 2018 | Common units representing limited partner interests | 3,553 | 0 | D |
Explanation of responses
- F1Pursuant to a Grant Agreement dated September 18, 2015, the Reporting Person was granted 10,659 phantom units representing limited partner interests in Global Partners LP ("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 and shall be paid in cash payments equal to the Fair Market Value of one common unit representing limited partner interests in Global Partners LP ("Common Unit") on the day immediately preceding the payment date for each Phantom Unit that is to be settled.
- F2Closing market price on December 29, 2017.
- F3Each Phantom Unit is the economic equivalent of one Common Unit.
- F4Phantom Units convert into Common Units on a one-for-one basis.