CrossAmerica Partners LP (CAPL) – Form 4/A, filed 29-Jul-2025: Director Kenneth G. Valosky reported the conversion of 3,419 phantom units into common units on 23-Jul-2025 (transaction code “M”). The phantom units vested one-for-one into limited-partner common units, increasing his direct ownership from 20,385 to 23,804 units. No open-market purchase or sale price was disclosed, and no derivative positions remain listed after the conversion.
The filing is an administrative update reflecting equity granted as compensation rather than a discretionary market transaction. While the additional holdings modestly align the director’s interests with unitholders, the size (<1 % of CAPL’s ~38 M unit float) and routine nature limit market impact.
CrossAmerica Partners LP (CAPL) – Form 4/A (amendment)
Director and 10 % owner Joseph V. Topper Jr. reported the automatic conversion of phantom units into 3,419 common units on 23 Jul 2025 (transaction code M). The filing corrects the originally misstated trade date of 21 Jul 2025. Following the vesting, Topper’s direct ownership stands at 93,404 common units; no indirect holdings were disclosed. No new derivative positions were opened, and no sale occurred.
The transaction value is modest relative to CAPL’s market capitalization, but insider acquisitions—especially by a long-tenured director and large unitholder—can signal confidence and improve alignment with public investors. Because this is purely a date-correction amendment, the economic substance is unchanged from the initial Form 4.
Form 4 filed for CrossAmerica Partners LP (CAPL) discloses that director Mickey Kim acquired 3,419 common units on 23 Jul 2025. The units were received through the vesting and mandatory conversion of an equal number of phantom units, coded “M,” indicating no open-market activity. After the transaction, Kim directly owns 30,844 common units and holds no remaining phantom units related to this award.
The filing represents a routine equity-incentive settlement that modestly raises insider ownership and further aligns the director’s economic interest with other unitholders. No sales, cash purchases, or additional derivative grants were reported, and the document contains no financial performance data or forward-looking statements.
CrossAmerica Partners LP (CAPL) Form 4: On 07/23/2025, director Justin A. Gannon received 3,154 phantom units (economically equivalent to common units) at a cost basis of $0, coded “A” (grant). The award raises his derivative position to 36,528 phantom units, all held directly.
The phantom units carry distribution-equivalent rights and will vest in a single installment on the first anniversary of the grant, contingent on continued board service. Upon vesting, CAPL may settle the units in cash or common units at its discretion. No common units were sold or otherwise disposed of, and the filing reflects routine director compensation rather than open-market activity; therefore, immediate dilution and cash impact are negligible.
On 23 July 2025, CrossAmerica Partners LP (CAPL) director Justin A. Gannon converted 3,419 phantom units (Code M) into the same number of common units. No units were sold; the transaction strictly reflects vesting of equity-based compensation. Following the conversion, Gannon’s direct ownership increased to 36,528 common units. The phantom units carried no stated exercise price and, after conversion, the derivative balance fell to zero.
Because the acquisition represents a routine incentive-equity vesting rather than an open-market purchase, it is generally viewed as informational rather than materially price-sensitive. Still, the transaction modestly aligns insider and unitholder interests by increasing the director’s direct equity stake.
CrossAmerica Partners LP (CAPL) – Form 4 insider filing
Director and 10% owner John B. Reilly III reported the conversion of 3,419 phantom units into an equal number of common units on 07/23/2025 (Transaction Code M). Following the conversion, Reilly’s direct holdings rose to 33,467 common units; all corresponding phantom units were extinguished, leaving 0 derivative units outstanding. Each phantom unit was economically equivalent to one common unit and vested on the same date.
No sales were disclosed, and there is no price information provided. The filing reflects a modest increase in the insider’s equity stake and maintains his status as both a Director and 10% owner.