SEC Form 4 · accession 0001733239-18-000004
CrossAmerica Partners LP · CAPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gerardo Valencia
Officer — President · Director
Period of report
Aug 9, 2018
Accepted (ET)
Aug 10, 2018 · 10:23 am 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom Performance UnitsF1,F2 | — | Aug 9, 2018 | A | 4,677 | A | — | — | Common Units | 4,677 | 4,677 | D |
Explanation of responses
- F1Each phantom performance unit represents a contingent right to receive one common unit ("Common Unit") representing a limited partner interest in CrossAmerica Partners LP and is accompanied by tandem distribution equivalent rights that entitle the holder to cash payments equal to the amount of distributions authorized to be paid to the holders of Common Units.
- F235% of the grant will vest on the third anniversary of the grant date, with the remaining 65% vesting on the third anniversary of the grant date subject to the attainment of the performance criteria set forth in the award agreement. Upon vesting of each performance phantom unit, the recipient will receive one Common Unit, or in the discretion of the issuer, cash equal to the fair market value of a Common Unit on the vesting date.