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

Rhea-AI Filing Summary

Joseph V. Topper Jr., a director and listed 10% owner of CrossAmerica Partners LP (CAPL), purchased 2,706 common units on 08/12/2025 at a weighted average price of $20.0084 under a Rule 10b5-1 trading plan. The filing states these units were acquired in multiple transactions on that date at prices ranging from $19.82 to $20.35.

After the reported purchase, the report shows 1,857,649 common units beneficially owned indirectly through Energy Realty Partners, LLC; the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest. The Form 4 was signed by an attorney-in-fact on 08/13/2025.

Insights

Securities Analyst

TL;DR: Routine disclosed purchase under a 10b5-1 plan; shows ongoing indirect stake but is procedural, not an ad hoc signal.

The Form 4 documents a planned acquisition executed under a Rule 10b5-1 trading plan, which typically indicates pre-arranged transactions rather than opportunistic insider buys. The reported 2,706 units at a weighted average price of $20.0084 are small in absolute count relative to the reported indirect stake of 1,857,649 units held via Energy Realty Partners, LLC. Materiality for public investors depends on the issuer's overall float and market capitalization, information not included here. The filing also includes a disclaimer of beneficial ownership except for pecuniary interest, which is common in indirect ownership structures.

Corporate Governance Expert

TL;DR: Proper compliance filing showing director's transactions completed via a 10b5-1 plan and indirect ownership through an LLC.

The disclosure meets Section 16 requirements by reporting the purchase date, quantity, and weighted average price. Use of a Rule 10b5-1 plan is explicitly stated, and the transaction was reported promptly with an attorney-in-fact signature. The report also clarifies the form of ownership as indirect via Energy Realty Partners, LLC and contains a standard disclaimer regarding beneficial ownership. From a governance perspective, the filing is procedural and complete based on the provided content.

Insider Trade Summary

Net Buyer: 2,706 shares ($54,143)

Net Buy 1 txn

Insider Topper Joseph V. Jr.

Role Director, 10% Owner

Bought 2,706 shs ($54K)

Type	Security	Shares	Price	Value
Purchase	Common Units	2,706	$20.0084	$54K

Holdings After Transaction: Common Units — 1,857,649 shares (Indirect, By Energy Realty Partners, LLC)

Footnotes (1)

1. These Common Units were purchased under a Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. These units were purchased in multiple transactions on August 12, 2025 at prices ranging from $19.82 to $20.35 inclusive. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of units and price at which the transaction was effected. The Reporting Person disclaims beneficial ownership of these Common Units except to the extent of his pecuniary interest therein, and the inclusion of these Common Units in this report shall not be deemed an admission of beneficial ownership of all of the reported Common Units for purposes of Section 16 or any other purpose.

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Form 4 Insider Transactions: What Each Field Means →

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Topper Joseph V. Jr.

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

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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
Common Units	08/12/2025		P(1)		2,706	A	$20.0084	1,857,649(2)(3)	I(3)	By Energy Realty Partners, LLC

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. These Common Units were purchased under a Rule 10b5-1 trading plan.

2. The price reported in Column 4 is a weighted average price. These units were purchased in multiple transactions on August 12, 2025 at prices ranging from $19.82 to $20.35 inclusive. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of units and price at which the transaction was effected.

3. The Reporting Person disclaims beneficial ownership of these Common Units except to the extent of his pecuniary interest therein, and the inclusion of these Common Units in this report shall not be deemed an admission of beneficial ownership of all of the reported Common Units for purposes of Section 16 or any other purpose.

Remarks:

	/s/ Christina Casey-Best as Attorney in Fact for Joseph V. Topper, Jr.	08/13/2025
	** 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.