[Form 4/A] CrossAmerica Partners LP Common units representing limited partner interests Amended Insider Trading Activity

Rhea-AI Filing Summary

CrossAmerica Partners LP (CAPL) – Form 4/A, filed 29-Jul-2025: Director Kenneth G. Valosky reported the conversion of 3,419 phantom units into common units on 23-Jul-2025 (transaction code “M”). The phantom units vested one-for-one into limited-partner common units, increasing his direct ownership from 20,385 to 23,804 units. No open-market purchase or sale price was disclosed, and no derivative positions remain listed after the conversion.

The filing is an administrative update reflecting equity granted as compensation rather than a discretionary market transaction. While the additional holdings modestly align the director’s interests with unitholders, the size (<1 % of CAPL’s ~38 M unit float) and routine nature limit market impact.

Positive

• Director’s ownership increases to 23,804 units, marginally strengthening insider alignment.

Negative

• No open-market purchase; transaction stems from routine vesting, limiting signal value to investors.

Insights

Securities Analyst

TL;DR: Routine vesting; neutral market signal.

The Code M entry shows compensation-related vesting, not an open-market buy. Valosky’s stake rises to 23,804 units, a small absolute and relative amount. Because no cash transaction or price is involved, the filing mainly confirms equity compensation mechanics and marginally improves alignment but offers little insight into CAPL’s fundamentals or insider sentiment. I view the disclosure as non-impactful for valuation or liquidity.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Valosky Kenneth G

(Last) (First) (Middle)

645 HAMILTON ST., SUITE 400

(Street)

ALLENTOWN PA 18101

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CrossAmerica Partners LP [ CAPL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
07/23/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Units	07/23/2025		M		3,419	A	(1)	23,804	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each phantom unit was the economic equivalent of one common unit ("Common Unit") representing a limited partner interest in CrossAmerica Partners LP (the "Issuer"). The reporting person acquired Common Units upon vesting of the phantom units.

Remarks:

	/s/ Christina Casey Best as Attorney in Fact for Kenneth G. Valosky	07/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Director Kenneth G. Valosky report in the CAPL Form 4/A?

He converted 3,419 phantom units into common units on 23-Jul-2025, boosting direct holdings to 23,804 units.

Was cash paid for the newly acquired CAPL units?

No. The units resulted from phantom-unit vesting; no purchase price was disclosed.

How significant is the transaction relative to CAPL’s float?

The additional 3,419 units represent well under 1 % of CAPL’s roughly 38 million outstanding units.

Does the filing indicate bullish insider sentiment?

Because it is a compensation-related conversion, it is considered neutral rather than a discretionary insider buy.

Are any derivative securities remaining after this transaction?

The Form 4/A lists no remaining derivative positions for the reporting person.