CrossAmerica director granted 3,040 phantom units

CrossAmerica Partners LP reported that director Mickey Kim received a grant of 3,040 phantom units on July 21, 2026.

Rhea-AI Filing Summary

CrossAmerica Partners LP reported that director Mickey Kim received a grant of 3,040 phantom units on July 21, 2026. Each phantom unit is economically equivalent to one common unit with tandem cash distribution rights, vests in full on the first anniversary subject to continued board service, and will then convert into cash or common units at the issuer’s discretion, bringing his direct holdings to 33,884 units.

Insider Trade Summary

Grant/Award: 3,040 shares

Grant/Award 1 txn

Insider Kim Mickey

Role Director

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

Holdings After Transaction: Phantom Units — 33,884 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 Total phantom units held after grant: 33,884 units Phantom unit grant price: $0.0000 per unit +1 more

4 metrics

Phantom units granted 3,040 units Equity award to director Mickey Kim on July 21, 2026

Total phantom units held after grant 33,884 units Director’s direct holdings following the reported transaction

Phantom unit grant price $0.0000 per unit Compensation grant with no purchase price paid by the director

Underlying common units per phantom unit 1 unit Each phantom unit is economically equivalent to one common unit

Key Terms

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

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.

distribution equivalent rights financial

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

limited partner interest financial

"one common unit representing a limited partner interest in CrossAmerica Partners L.P."

vest financial

"The phantom units will vest in one annual installment on the first anniversary"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

FAQ

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

What insider transaction did CrossAmerica Partners LP (CAPL) disclose for director Mickey Kim?

Director Mickey Kim received a grant of 3,040 phantom units on July 21, 2026. These units are a form of equity-based compensation and increased his direct holdings to 33,884 phantom units representing interests economically equivalent to common units.

What are the terms of the 3,040 phantom units granted to CAPL director Mickey Kim?

The 3,040 phantom units will vest in a single installment on the first anniversary of the grant. Vesting requires continuous service as a director through that date, after which they convert into cash or common units at CrossAmerica Partners LP’s discretion.

How do the phantom units granted to CAPL director Mickey Kim relate to common units?

Each phantom unit is economically equivalent to one common unit of CrossAmerica Partners LP. The award also carries distribution equivalent rights that provide cash payments equal to distributions made on the underlying common units to regular unitholders.

What are distribution equivalent rights attached to CAPL phantom units?

The phantom units include tandem distribution equivalent rightscash payments equal to any cash distributions authorized and paid to holders of CrossAmerica Partners LP common units while the phantom units are outstanding.

Will CrossAmerica Partners LP (CAPL) pay anything for the phantom unit grant to director Mickey Kim?

The grant price for the 3,040 phantom units was $0.0000 per unit, reflecting a compensation award rather than a purchase. The units provide economic exposure to common units and cash distributions without requiring a cash payment by the director.

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

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Accepted by SEC EDGAR 07/21/2026 - 04:13 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^*

Kim Mickey

(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		(2)	(2)	Common Units	3,040	$0	33,884	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 Mickey Kim	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)