Genesis Energy (NYSE: GEL) director logs phantom unit vesting and new grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Genesis Energy LP director Kenneth M. Jastrow II reported several compensation-related unit transactions. On July 1, 2026, 2,649 phantom units vested and were paid in cash, which is treated as a disposition of those phantom units and a simultaneous acquisition and disposition of 2,649 underlying Common Units - Class A back to the issuer at $14.77 per unit. After these steps, he held 152,649 Common Units - Class A directly. He also received a new grant of 3,154 phantom units, which are scheduled to vest on July 1, 2027 and be paid in cash based on the average closing price over the 20 trading days before vesting, and will accrue quarterly distribution equivalent rights during the vesting period.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,649 shares exercised/converted
Mixed
4 txns
Insider
JASTROW KENNETH M II
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Units | 2,649 | $0.00 | -- |
| Grant/Award | Phantom Units | 3,154 | $0.00 | -- |
| Exercise | Common Units - Class A | 2,649 | $0.00 | -- |
| Disposition | Common Units - Class A | 2,649 | $14.77 | $39K |
Holdings After Transaction:
Phantom Units — 8,015 shares (Direct, null);
Common Units - Class A — 152,649 shares (Direct, null)
Footnotes (1)
- The payment of the phantom units in cash is deemed to be a disposition of the phantom units in exchange for the acquisition of the underlying Common Units - Class A and a simultaneous disposition of the underlying Common Units - Class A to the issuer. Upon vesting, the phantom units were paid in cash based on the average closing price of the Common Units - Class A for the 20 trading days immediately prior to the date of vesting. The phantom units will be paid in cash based on the average closing price of the Common Units - Class A for the 20 trading days immediately prior to the vesting date. Award includes tandem distribution equivalent rights pursuant to which the quarterly distributions paid by the partnership on each Common Unit - Class A will be accrued over the vesting period and paid quarterly.
Key Figures
Issuer disposition units: 2,649 units
Disposition price: $14.77 per unit
Common units after transactions: 152,649 units
+2 more
5 metrics
Issuer disposition units
2,649 units
Common Units - Class A disposed to issuer at $14.77 on July 1, 2026
Disposition price
$14.77 per unit
Price for 2,649 Common Units - Class A returned to issuer
Common units after transactions
152,649 units
Direct holdings of Common Units - Class A following July 1, 2026 activity
New phantom unit grant
3,154 units
Phantom units granted on July 1, 2026, vesting on July 1, 2027
Remaining phantom units
8,015 units
Phantom unit balance after exercise and new grant on July 1, 2026
Key Terms
phantom units, distribution equivalent rights, average closing price, issuer disposition
4 terms
phantom units financial
"The payment of the phantom units in cash is deemed to be a disposition"
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
"Award includes tandem distribution equivalent rights pursuant to which the quarterly distributions"
average closing price financial
"paid in cash based on the average closing price of the Common Units - Class A"
The average closing price is the arithmetic mean of a security’s end-of-day prices over a chosen period, found by adding each day’s closing price and dividing by the number of days. It smooths out daily ups and downs to show a typical market value—like averaging daily temperatures to understand a month’s climate—and helps investors spot trends, judge whether a stock is generally rising or falling, and make clearer buy or sell decisions.
issuer disposition financial
"simultaneous disposition of the underlying Common Units - Class A to the issuer"
FAQ
What insider transactions did GEL director Kenneth M. Jastrow II report?
Kenneth M. Jastrow II reported vesting, an issuer disposition, and a new equity grant. 2,649 phantom units vested and were paid in cash, tied to 2,649 underlying Common Units - Class A, and he received 3,154 new phantom units scheduled to vest in 2027.
How many Genesis Energy (GEL) common units does the director hold after these transactions?
After the reported transactions, the director holds 152,649 Common Units - Class A. This figure reflects the disposition of 2,649 units to the issuer linked to the vesting of cash-settled phantom units and the simultaneous acquisition and disposition treatment described.
What are the key terms of the new phantom unit grant reported by GEL?
The new grant covers 3,154 phantom units with a 2027 vesting date. These phantom units will be paid in cash based on the average closing price of Common Units - Class A over the 20 trading days before vesting and include distribution equivalent rights.
How were the vested phantom units at Genesis Energy (GEL) settled?
The vested phantom units were settled in cash based on an average market price. Payment was calculated using the average closing price of Common Units - Class A over the 20 trading days before vesting, and is treated as an acquisition and disposition of the corresponding underlying units.
What does the issuer disposition in the GEL Form 4 represent?
The issuer disposition reflects units returned to Genesis Energy LP. When 2,649 phantom units vested and were paid in cash, it was deemed an acquisition of 2,649 underlying Common Units - Class A and a simultaneous disposition of those units back to the issuer.