SEC Form 4 · accession 0001556583-16-000006
CrossAmerica Partners LP · CAPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Hrinak
Officer — EVP and COO
Period of report
Mar 15, 2016
Accepted (ET)
Mar 16, 2016 · 4:18 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001538849
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF1,F2,F3 | Mar 15, 2016 | M | 3,179 | — | A | 37,466 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Profits InterestsF3 | $0.00 | Mar 15, 2016 | M | 3,179 | D | — | — | Common Units | 3,179 | 0 | D |
Explanation of responses
- F1The Reporting Person acquired the reported securities as a result of the redemption by the Issuer of certain class B units ("Class B Units") in LGP Operations LLC ("LGP Operations"), a wholly owned subsidiary of the Issuer, owned by the Reporting Person. Each Class B Unit represents a profit interest in LGP Operations (the "Profit Interests"). The vested Profits Interests owned by the Reporting Person became eligible for redemption on March 15, 2016, pursuant to the award agreement related to the Profit Interests.
- F2As provided in the Amended and Restated Operating Agreement of LGP Operations LLC, dated March 4, 2014, as amended, prior to redemption, the Issuer elected to redeem the vested Profits Interests in exchange for common units of the Issuer on a one-to-one basis.
- F3The Profits Interests were issued to the Reporting Person under the Lehigh Gas Partners 2012 Long Term Incentive Plan on March 14, 2014 and vested in full on October 1, 2014.