SEC Form 4 · accession 0001336792-15-000004
GLOBAL PARTNERS LP · GLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David K McKown
Director
Period of report
Sep 18, 2015
Accepted (ET)
Sep 21, 2015 · 4:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001323468
Table I — non-derivative securities
No Table I lines on this filing.
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 | $0.00 | Sep 18, 2015 | A | 10,659 | A | Jan 2, 2016 | Jan 2, 2018 | Common units representing limited partner interests | 10,659 | 10,659 | D |
Explanation of responses
- F1Pursuant to a Grant Agreement dated September 18, 2015 ("Grant Agreement"), the Reporting Person was granted 10,659 ("Phantom Units") under the Global Partners LP Long-Term Incentive Plan. Each Phantom Unit is the economic equivalent of one common unit representing a limited partner interest in the Issuer.
- F2Upon satisfying the vesting conditions set forth in the Grant Agreement, the Phantom Units will vest as follows: 33 1/3% each on January 2, 2016, January 2, 2017 and January 2, 2018 and shall be paid in cash payment equal to the Fair Market Value of one common unit representing a limited partner interest on the day immediately preceding the payment date for each vested Phantom Unit that is to be settled.