SEC Form 4 · accession 0001556587-15-000008
CrossAmerica Partners LP · CAPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph V. Topper Jr.
Officer — President and CEO · Director
Period of report
Mar 12, 2015
Accepted (ET)
Mar 13, 2015 · 4:14 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001538849
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Profits InterestsF1,F2 | — | Mar 12, 2015 | A | 16,022 | A | — | — | Common Units | 0 | 16,022 | D |
Explanation of responses
- F1These Profits Interests vested on March 12, 2015 and are represented by Class B Units of LGP Operations LLC, a wholly owned subsidiary of CrossAmerica Partners LP. These vested Class B Units are redeemable for cash or CrossAmerica Partners LP common units (at a conversion ratio of not greater than 1:1), at the discretion of the Issuer, beginning on the second anniversary of the grant date.
- F2Represents Profits Interests under the Lehigh Gas Partners LP 2012 Incentive Award Plan issued to the reporting person in connection with the Issuer's 2014 annual incentive program. The number of Profits Interests issued was based on the value of the award to the reporting person (less any cash received) and the closing price ($33.75) of the Issuer's common units on March 10, 2015.