CrossAmerica director granted 3,040 phantom units

CrossAmerica Partners LP director Justin A. Gannon was granted 3,040 phantom units on July 21, 2026.

Rhea-AI Filing Summary

CrossAmerica Partners LP director Justin A. Gannon was granted 3,040 phantom units on July 21, 2026. Each phantom unit is economically equivalent to one common unit and includes cash distribution-equivalent rights. The units vest in a single installment after one year and then convert into cash or common units at the issuer’s discretion, bringing his reported phantom-unit holdings to 39,568.

Insider Trade Summary

Grant/Award: 3,040 shares

Grant/Award 1 txn

Insider Gannon Justin A.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Units F1, F2	3,040	$0.00	$0.00

Holdings After Transaction: Phantom Units — 39,568 contracts (Direct)

Footnotes (2)

1. 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.
2. 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.

Key Figures

Phantom units granted: 3,040 units Underlying common units: 3,040 units Total phantom units after grant: 39,568 units +2 more

5 metrics

Phantom units granted 3,040 units Grant to director Justin A. Gannon on July 21, 2026

Underlying common units 3,040 units Each phantom unit is economically equivalent to one common unit

Total phantom units after grant 39,568 units Director’s reported phantom-unit holdings following the transaction

Grant price per phantom unit $0.0000 per unit Reported transaction price for the phantom unit award

Transaction date July 21, 2026 Date of the phantom unit grant

Key Terms

Phantom Units, Common Units, distribution equivalent rights, limited partner interest

4 terms

Phantom Units financial

"Each phantom unit is 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

"one common unit ("Common Unit") representing a limited partner interest"

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.

distribution equivalent rights financial

"accompanied by tandem distribution equivalent rights that entitle the holder to cash payments"

limited partner interest financial

"Common Unit representing a limited partner interest in CrossAmerica Partners L.P."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did CrossAmerica Partners LP (CAPL) report for Justin A. Gannon?

Justin A. Gannon, a director of CrossAmerica Partners LP, was granted 3,040 phantom units on July 21, 2026. These are derivative interests tied to common units and increase his total reported phantom-unit holdings to 39,568.

What are the phantom units granted to the CAPL director and how do they work?

Each phantom unit is the economic equivalent of one common unit of CrossAmerica Partners LP. They are accompanied by distribution equivalent rights that entitle the holder to cash payments equal to distributions paid on the underlying common units.

What is the vesting schedule for Justin A. Gannon’s CAPL phantom units?

The 3,040 phantom units vest in a single annual installment on the first anniversary of the grant date. Vesting is conditioned on Mr. Gannon’s continuous service as a director through that date.

How will the CAPL phantom units be settled once they vest?

Upon vesting, the phantom units will be converted into either cash or common units, at CrossAmerica Partners LP’s discretion. This gives the issuer flexibility in how it settles the director’s vested award.

What are Justin A. Gannon’s total phantom-unit holdings in CAPL after this grant?

Following the grant, Justin A. Gannon’s reported holdings total 39,568 phantom units. These derivative interests are each economically equivalent to one common unit of CrossAmerica Partners LP.

Was the CAPL phantom unit grant to Justin A. Gannon made under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox was not marked as affirming a trading plan. The grant is reported as a direct acquisition of phantom units, not pursuant to a disclosed Rule 10b5-1 plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/21/2026 - 04:15 PM EDT Learn about SEC filing dates

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^*

Gannon Justin A.

(Last) (First) (Middle)

645 HAMILTON STREET, SUITE 400

(Street)

ALLENTOWN PENNSYLVANIA 18101

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/21/2026

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

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

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

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)	07/21/2026		A		3,040(1)		(2)	(2)	Common Units	3,040	$0	39,568	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 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.

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 Justin A. Gannon	07/21/2026
	** 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.
* Form 4: SEC 1474 (03-26)