CrossAmerica Partners LP (NYSE: CAPL) awards director 3,040 phantom units

Rhea-AI Filing Summary

Valosky Kenneth G reported acquisition or exercise transactions in this Form 4 filing.

CrossAmerica Partners LP director Kenneth G. Valosky received a grant of 3,040 phantom units on July 21, 2026. Each phantom unit is economically equivalent to one common unit and carries cash distribution rights. The award vests in one annual installment subject to continued board service, bringing his direct phantom-unit holdings to 26,844.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Valosky Kenneth G

Role Director

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

Holdings After Transaction: Phantom Units — 26,844 shares (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 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 Isser.

Key Figures

Phantom units granted: 3040.0000 phantom units Phantom units held after grant: 26844.0000 phantom units Grant price per phantom unit: $0.0000

3 metrics

Phantom units granted 3040.0000 phantom units Grant to director Kenneth G. Valosky on July 21, 2026

Phantom units held after grant 26844.0000 phantom units Direct phantom unit holdings following the reported award

Grant price per phantom unit $0.0000 Compensation grant with no cash paid by the director

Key Terms

Phantom Units, tandem distribution equivalent rights, limited partner interest

3 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.

tandem distribution equivalent rights financial

"and is accompanied by tandem distribution equivalent rights that entitle the holder"

limited partner interest financial

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

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FAQ

What insider transaction did CAPL report for director Kenneth G. Valosky?

CAPL reported that director Kenneth G. Valosky received a grant of 3,040 phantom units on July 21, 2026. These units are economically equivalent to common units and include cash distribution rights, increasing his direct phantom-unit holdings to 26,844 after the award.

What are the phantom units reported in CrossAmerica Partners LP (CAPL)'s Form 4?

The reported phantom units are derivatives economically equivalent to one common unit each and include tandem distribution equivalent rights. These rights provide cash payments equal to distributions paid on common units representing limited partner interests in CrossAmerica Partners LP.

How do the CAPL phantom units granted to Kenneth G. Valosky vest?

The phantom units vest in one annual installment on the anniversary of the grant date. Vesting requires that Valosky remain in continuous service as a director through the vesting date, aligning the award with ongoing board service at CrossAmerica Partners LP.

What happens to CAPL phantom units when they vest for Kenneth G. Valosky?

When the phantom units vest, they will be converted into either cash or common units, at the discretion of the issuer. This flexibility means the company can settle the award in shares or a cash payment equivalent to those units’ value.

Did Kenneth G. Valosky pay a purchase price for the CAPL phantom units granted?

No cash purchase price was reported; the transaction price per phantom unit is $0.0000. This indicates the award was a compensation grant rather than an open-market purchase, consistent with typical equity-based director compensation structures.

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^*

Valosky Kenneth G

(Last) (First) (Middle)

645 HAMILTON ST., 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	26,844	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 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 Isser.

Remarks:

	/s/ Christina Casey Best as Attorney in Fact for Kenneth G. Valosky	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)