CrossAmerica Partners (NYSE: CAPL) awards 3,040 phantom units to director
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
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 shares (Direct)
Footnotes (2)
- 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.
- 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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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.