Justin A. Gannon - 25 Jul 2023 Form 4 Insider Report for CrossAmerica Partners LP (CAPL)

Role
Director
Signature
/s/ Christina Casey-Best as Attorney in Fact for Justin A. Gannon
Issuer symbol
CAPL
Transactions as of
25 Jul 2023
Net transactions value
$0
Form type
4
Filing time
26 Jul 2023, 16:12:50 UTC
Previous filing
24 Jul 2023
Next filing
16 May 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CAPL Phantom Units Award $0 +3,249 +12% $0.000000 29,360 25 Jul 2023 Common Units 3,249 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each phantom unit is the economic equivalent of one common unit ("Common Unit") representing a limited partner interest in CrossAmerica Partners L.P. 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.
F2 The phantom units will vest in one annual installment on the first anniversary of the grant date, provided the reporting person was in continuous service as a director to the Issuer as of the vesting date, and when vested will be converted into either cash or common units, at the discretion of the Issuer.