CrossAmerica director converts 3,154 phantom units
CrossAmerica Partners LP director Justin A. Gannon had previously granted phantom units vest on July 23, 2026 and convert, at the issuer's discretion, into 3,154 common units.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
CrossAmerica Partners LP director Justin A. Gannon had previously granted phantom units vest on July 23, 2026 and convert, at the issuer's discretion, into 3,154 common units. Each phantom unit was economically equivalent to one common unit. His direct holding rose to 39,682 common units, with no phantom units remaining.
Insider Trade Summary
0 shares exercised/converted
Exercise
2 txns
Insider
Gannon Justin A.
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 — 39,682 shares (Direct)
Holdings Before and After:
Phantom Units, 0 to 0 contracts (Direct);
Common Units, 36,528 to 39,682 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
Common units acquired: 3,154 units
Common units held after transaction: 39,682 units
Phantom units converted: 3,154 units
+1 more
4 metrics
Common units acquired
3,154 units
Common units received upon vesting and conversion of phantom units on July 23, 2026
Common units held after transaction
39,682 units
Direct common unit holdings of Justin A. Gannon after the conversion
Phantom units converted
3,154 units
Phantom units vested and converted into common units at the issuer's discretion
Phantom units remaining
0 units
Phantom unit balance following the July 23, 2026 conversion
Key Terms
Phantom Units, Common Units, limited partner interest, vesting
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
"Phantom units vested on July 23, 2026 and were converted into Common 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
"Common Unit representing a limited partner interest in CrossAmerica Partners LP"
vesting financial
"The reporting person acquired Common Units upon vesting of the phantom units"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
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 had phantom units vest and convert into common units. On July 23, 2026, 3,154 phantom units that were economically equivalent to common units became 3,154 common units, increasing his direct CrossAmerica Partners LP holdings to 39,682 common units.
How many common units did Justin A. Gannon receive in the July 23, 2026 CAPL transaction?
He received 3,154 common units. Those units came from the vesting and conversion of an equal number of phantom units that were economically equivalent to common units, completed on July 23, 2026, and increased his direct ownership position in CrossAmerica Partners LP.
What are phantom units at CAPL and how were Justin A. Gannon’s units treated?
Phantom units are awards that are the economic equivalent of one common unit. For Justin A. Gannon, 3,154 phantom units vested on July 23, 2026 and, at the issuer’s discretion, were converted into 3,154 common units, eliminating his remaining phantom unit balance.
What is Justin A. Gannon’s direct common unit holding in CAPL after this transaction?
After the vesting and conversion, Justin A. Gannon directly holds 39,682 common units of CrossAmerica Partners LP. This total reflects the addition of 3,154 common units received from the conversion of phantom units on July 23, 2026.
Was Justin A. Gannon’s CAPL phantom unit conversion done under a Rule 10b5-1 plan?
No. The report indicates the transaction was not made under a Rule 10b5-1 trading plan, meaning the conversion and resulting acquisition of 3,154 common units were not executed pursuant to a pre-arranged automatic trading instruction for Justin A. Gannon.
AI-generated analysis. How Rhea-AI works. Not financial advice.
