CrossAmerica Partners (CAPL) awards 4,704 phantom units to CFO and director

Rhea-AI Filing Summary

CrossAmerica Partners LP reported that director and Chief Financial Officer Maura Topper received an award of 4,704 phantom units on 12/10/2025. Each phantom unit is the economic equivalent of one common unit representing a limited partner interest and includes distribution equivalent rights that pay cash equal to common unit distributions. Following this grant, she beneficially owns 18,632 derivative securities directly.

Half of the grant will vest ratably over three years, each as of December 31 until December 31, 2028. The remaining half will vest upon death, disability, or certain retirements as determined by the Board, and any unvested portion of that half will expire 20 years from the grant date.

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

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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^*

Topper Maura

(Last) (First) (Middle)

645 HAMILTON ST., 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)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2025

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

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)	12/10/2025		A		4,704(1)		(2)	(2)	Common Units	4,704	$0	18,632	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 distribution authorized to be paid to the holders of Common Units.

2. 50% of the grant will vest ratably over three years, each as of December 31, until December 31, 2028. 50% of the grant will vest upon death or disability, or retirement if such retirement is not adverse to the interests of the Issuer, as determined by the Board in its sole discretion. This 50% portion will expire, if unvested 20 years from the grant date.

Remarks:

	/s/ Christina Casey-Best as Attorney in Fact for Maura Topper	12/12/2025
	** 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).
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FAQ

What insider transaction did CrossAmerica Partners LP (CAPL) report for Maura Topper?

The company reported that Maura Topper received an award of 4,704 phantom units on 12/10/2025, as disclosed in a Form 4 filing.

What are the phantom units granted by CrossAmerica Partners LP (CAPL)?

Each phantom unit is the economic equivalent of one common unit of CrossAmerica Partners LP and is accompanied by distribution equivalent rights that pay cash equal to distributions on common units.

How do the 4,704 phantom units granted by CAPL vest?

According to the filing, 50% of the grant vests ratably over three years, each as of December 31 until December 31, 2028, while the other 50% vests upon death, disability, or qualifying retirement and otherwise expires 20 years from the grant date.

How many derivative securities does Maura Topper beneficially own after this CAPL grant?

After the reported transaction, Maura Topper beneficially owns 18,632 derivative securities directly.

What is Maura Topper’s role at CrossAmerica Partners LP (CAPL)?

Maura Topper is reported as both a Director and an Officer, serving as Chief Financial Officer of CrossAmerica Partners LP.

Do the phantom units granted by CAPL provide cash distributions?

Yes. The phantom units are accompanied by tandem distribution equivalent rights that entitle the holder to cash payments equal to the distributions authorized for holders of common units.