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

Rhea-AI Filing Summary

Columbus McKinnon Corp. (CMCO) – Form 4 filing dated 22-Jul-2025

Independent director Aziz S. Aghili reported the grant of 8,553 deferred stock units (DSUs) on 21-Jul-2025 under the company’s 2016 Long-Term Incentive Plan. Each DSU represents one CMCO common share and carries no exercise price. The grant lifts the director’s indirect holdings to 19,554.0454 DSUs, while his direct ownership of common stock remains at 11,993 shares. The DSUs will be settled in stock upon specified future dates: 4,220.7283 on 31-Dec-2025, 3,226.4392 on 01-Jun-2026, 3,553.8779 on 01-Jan-2027, and the remaining 8,553 after board service ends.

No shares were sold and no cash transactions occurred; therefore, the filing primarily reflects routine equity-based compensation aimed at aligning director incentives with shareholder interests. The transaction is non-dilutive and immaterial to CMCO’s share count and does not alter control or insider selling trends.

Positive

• Enhanced alignment: Additional 8,553 DSUs tie director compensation to long-term share performance.
• No insider sales: Filing shows only grants, removing near-term selling pressure signals.

Negative

• None.

Insights

Corporate Governance Analyst

TL;DR: Routine DSU award increases director equity stake; governance-positive but financially immaterial.

The award strengthens alignment between the board and shareholders, extending Aziz Aghili’s total deferred share balance to nearly 20 k units. Settlement is staggered over 2025-2027 and post-tenure, mitigating short-term selling pressure. No cash outflow, dilution, or insider disposition occurred, so market impact is negligible. Governance best practice is met by disclosing precise tranche delivery dates. Overall, neutral for valuation yet modestly positive for incentive alignment.

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
Estimated average burden
hours per response:			0.5

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^*

Reilly John B. III

(Last) (First) (Middle)

645 HAMILTON STREET, SUITE 600

(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	X	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)

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

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
Phantom Units(1)	(1)	07/23/2025		A		3,154(1)		(2)	(2)	Common Units	3,154	$0	33,467	D

Explanation of Responses:

1. Each phantom unit is the economic equivalent of 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.

2. 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.

Remarks:

	/s/ Christina Casey-Best as Attorney in Fact for John B. Reilly, III	07/23/2025
	** 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

How many shares did CMCO director Aziz Aghili acquire?

He received 8,553 deferred stock units, each equal to one CMCO share.

Did the Form 4 include any insider sales of CMCO stock?

No. The filing reports only an equity grant; no shares were sold or disposed.

What is Aziz Aghili’s total CMCO ownership after the transaction?

He now holds 11,993 direct shares plus 19,554.0454 deferred stock units.

When will the deferred stock units be delivered?

Tranches settle on 31-Dec-2025, 1-Jun-2026, 1-Jan-2027, and remaining units after he leaves the board.

Is the DSU grant dilutive to existing CMCO shareholders?

The DSUs are part of the existing incentive plan and are immaterial to the overall share count, so dilution impact is negligible.