CrossAmerica Partners (CAPL) officer reports phantom unit vesting and tax withholding

Rhea-AI Filing Summary

CrossAmerica Partners LP insider equity transaction: Director and officer Keenan D. Lynch, who serves as General Counsel and Chief Administrative Officer, reported equity activity dated 12/31/2025. Phantom units representing the right to receive common units vested, resulting in the acquisition of 2,757 common units upon vesting.

To cover tax withholding triggered by this vesting, 794 common units were withheld at a price of $20.51 per unit. After these transactions, Lynch beneficially owns 21,692 common units directly. He also holds 22,902 phantom units, with each phantom unit representing a contingent right to receive one common unit of CrossAmerica Partners LP.

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^*

Lynch Keenan D

(Last) (First) (Middle)

645 HAMILTON STREET, 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		10% Owner
X	Officer (give title below)		Other (specify below)
	Gen Counsel and CAO

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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	12/31/2025		M		2,757	A	(1)	22,486	D
Common Units	12/31/2025		F		794(2)	D	$20.51(3)	21,692	D

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	(4)	12/31/2025		M			2,757	(5)	(5)	Common Units	2,757	$0	22,902	D

Explanation of Responses:

1. Common units acquired upon vesting of phantom units.

2. Common units withheld in payment of the reporting person's tax withholding triggered by vesting.

3. The price at the close of business on the day preceding the vest event.

4. Each phantom unit represents a contingent right to receive one of the Issuer's common units.

5. December 31, 2025.

Remarks:

	Keenan D. Lynch	01/02/2026
	** 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.

FAQ

What insider transaction did CAPL report for Keenan D. Lynch?

The report shows that Keenan D. Lynch, a director and officer of CrossAmerica Partners LP, had phantom units vest on 12/31/2025, resulting in the acquisition of 2,757 common units and related tax-withholding activity.

How many CrossAmerica Partners (CAPL) common units did the insider acquire and at what date?

On 12/31/2025, Lynch acquired 2,757 common units of CrossAmerica Partners LP upon the vesting of phantom units.

How many CAPL units were withheld for taxes in this Form 4 filing?

The filing reports that 794 common units were withheld to satisfy tax withholding obligations, using a price of $20.51 per unit, in connection with the vesting event.

What is Keenan D. Lynch’s beneficial ownership in CAPL common units after the reported transactions?

Following the reported transactions, Lynch beneficially owns 21,692 common units of CrossAmerica Partners LP directly.

What are phantom units in the context of this CAPL Form 4?

According to the filing, each phantom unit represents a contingent right to receive one of CrossAmerica Partners LP’s common units, typically upon vesting.

How many phantom units does the CAPL insider hold after these transactions?

After the vesting and related transactions on 12/31/2025, Lynch holds 22,902 phantom units, each tied to a potential future common unit.