Genesis Energy (NYSE: GEL) director details phantom unit and common unit moves

Rhea-AI Filing Summary

Genesis Energy LP reported insider equity activity by a director on 01/02/2026. The director exercised 3,732 phantom units into an equal number of Common Units - Class A and then disposed of those 3,732 common units at a price of $15.74 per unit. After these transactions, the director directly held 18,732 Common Units - Class A.

The filing also shows derivative awards. One entry reflects 3,732 phantom units that converted and another award of 2,637 new phantom units, bringing the reported phantom unit holdings in the derivative table to 7,285 and 9,922 units under two lines. These phantom units are cash-settled based on the average closing price of the Common Units - Class A over 20 trading days before vesting and accrue quarterly distribution equivalent rights during the vesting period.

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^*

ALBERT CONRAD P

(Last) (First) (Middle)

811 LOUISIANA, SUITE 1200

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GENESIS ENERGY LP [ GEL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/02/2026

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
Common Units - Class A(1)	01/02/2026		M		3,732(1)	A	(2)	18,732	D
Common Units - Class A(1)	01/02/2026		D		3,732(1)	D	$15.74(2)	15,000	D

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	(2)	01/02/2026		M			3,732	01/02/2026	01/02/2026	Common Units - Class A	3,732	(2)	7,285	D
Phantom Units	(3)(4)	01/02/2026		A		2,637		01/02/2027	01/02/2027	Common Units - Class A	2,637	(3)(4)	9,922	D

Explanation of Responses:

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.

2. 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.

3. 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.

4. 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.

Remarks:

	Conrad P. Albert	01/04/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did Genesis Energy LP (GEL) report on 01/02/2026?

A director of Genesis Energy LP reported exercising 3,732 phantom units into Common Units - Class A and disposing of 3,732 Common Units - Class A at $15.74 per unit on 01/02/2026.

How many Genesis Energy LP (GEL) common units does the reporting person hold after the transaction?

Following the reported transactions, the director beneficially owned 18,732 Common Units - Class A in direct form.

What phantom unit activity was disclosed for Genesis Energy LP (GEL)?

The report shows 3,732 phantom units converting into Common Units - Class A and a separate award of 2,637 new phantom units, with derivative table balances of 7,285 and 9,922 phantom units under two lines.

How are Genesis Energy LP (GEL) phantom units valued upon vesting?

Upon vesting, the phantom units are 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.

Do Genesis Energy LP (GEL) phantom units include distribution equivalent rights?

Yes. The award includes tandem distribution equivalent rights, under which quarterly distributions paid on each Common Unit - Class A are accrued over the vesting period and paid quarterly.

Is the Genesis Energy LP (GEL) phantom unit plan cash-settled or stock-settled?

The phantom units described are paid in cash, with the cash amount based on the average closing price of the Common Units - Class A over the specified 20-trading-day period.