CrossAmerica Partners director exercises phantom units
CrossAmerica Partners LP director Mickey Kim exercised phantom units that vested on July 23, 2026.
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Form Type
4
Rhea-AI Filing Summary
CrossAmerica Partners LP director Mickey Kim exercised phantom units that vested on July 23, 2026. Phantom units economically equaled common units and were converted into 3,154 Common Units, eliminating the phantom unit balance. Following the conversion, Kim directly holds 33,998 Common Units representing limited partner interests.
Insider Trade Summary
0 shares exercised/converted
Exercise
2 txns
Insider
Kim Mickey
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Units F2, F1 | 0 | -- | -- |
| Exercise | Common Units F1 | 3,154 | -- | -- |
Holdings After Transaction:
Phantom Units — 0 contracts (Direct);
Common Units — 33,998 shares (Direct)
Footnotes (2)
- F1. 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.
- F2. Phantom units vested on July 23, 2026 and were converted into Common Units at the discretion of the Issuer.
Key Figures
Phantom units converted: 3,154 units
Common Units acquired: 3,154 units
Common Units held after: 33,998 units
+2 more
5 metrics
Phantom units converted
3,154 units
Underlying Common Units received upon vesting and conversion on July 23, 2026
Common Units acquired
3,154 units
Common Units representing limited partner interests received from phantom unit conversion
Common Units held after
33,998 units
Total direct Common Units owned by Mickey Kim following the transaction
Phantom units remaining
0 units
Total phantom units following conversion transaction
Transaction date
July 23, 2026
Vesting and conversion date for reported phantom units
Key Terms
Phantom Units, Common Units, limited partner interest, Rule 10b5-1
4 terms
Phantom Units financial
"Each phantom unit was the economic equivalent of one common unit"
Phantom units are a form of employee compensation that mimics ownership in a company without issuing real shares: recipients receive cash or stock value tied to the company’s share price or performance when the units vest. They matter to investors because phantom units align employee incentives with shareholder value while avoiding share dilution; however, they create future cash obligations and can affect a company’s financial statements and cash flow.
Common Units financial
"The reporting person acquired Common Units upon vesting of the phantom units"
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
limited partner interest financial
"one common unit representing a limited partner interest in CrossAmerica Partners LP"
Rule 10b5-1 regulatory
"The filing includes a Rule 10b5-1 checkbox indicating plan status"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did CrossAmerica Partners LP (CAPL) director Mickey Kim report?
Mickey Kim reported an exercise and conversion of phantom units into common units on July 23, 2026. The phantom units were economically equivalent to common units and vested, resulting in newly issued common units directly held by the director.
How many CrossAmerica Partners (CAPL) common units did Mickey Kim acquire in this Form 4?
Mickey Kim acquired 3,154 Common Units through the vesting and conversion of phantom units. These common units represent limited partner interests and increased the director’s direct ownership position as reported in the filing.
What is Mickey Kim’s total direct ownership in CrossAmerica Partners (CAPL) after the transaction?
After the conversion, Mickey Kim directly holds 33,998 Common Units. This figure reflects the new common units received from the vested phantom units added to the director’s previously held common units, all reported as direct ownership.
What happened to the phantom units held by Mickey Kim at CrossAmerica Partners (CAPL)?
All reported phantom units were converted into Common Units when they vested on July 23, 2026. The phantom unit position declined to zero, with economic value transferred into an equivalent number of common units directly owned.
Were Mickey Kim’s CrossAmerica Partners (CAPL) transactions made under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is marked false, and the footnotes do not reference any trading plan. The reported conversion of phantom units into common units is therefore not identified as occurring under a pre-arranged Rule 10b5-1 plan.
What are phantom units in the context of CrossAmerica Partners (CAPL)?
Phantom units were described as the economic equivalent of one Common Unit representing a limited partner interest in CrossAmerica Partners LP. Upon vesting, these phantom units could be converted into an equal number of common units at the issuer’s discretion.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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