Genesis Energy (NYSE: GEL) director reports phantom unit exercise and new grant
Rhea-AI Filing Summary
GENESIS ENERGY LP director Albert Conrad P reported compensation-related transactions involving phantom units tied to Common Units - Class A. On April 1, 2026, he exercised 2,491 phantom units, receiving an equivalent number of common units, and those common units were simultaneously disposed of to the issuer for $17.88 per unit, with the phantom units paid in cash based on the 20‑day average price. He also received a new grant of 2,393 phantom units scheduled to vest on April 1, 2027, which will be cash‑settled and accrue quarterly distribution equivalent rights over the vesting period. Following these transactions, he directly holds 15,000 Common Units - Class A and 9,824 phantom units.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,491 shares exercised/converted
Exercise
4 txns
Insider
ALBERT CONRAD P
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Units | 2,491 | $0.00 | $0.00 |
| Grant/Award | Phantom Units | 2,393 | $0.00 | $0.00 |
| Exercise | Common Units - Class A | 2,491 | $0.00 | $0.00 |
| Disposition | Common Units - Class A | 2,491 | $17.88 | $45K |
Holdings After Transaction:
Phantom Units — 17,255 shares (Direct);
Common Units - Class A — 15,000 shares (Direct)
Footnotes (4)
- F1. 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.
- F2. 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.
- F3. 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.
- F4. 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
Phantom units exercised: 2,491 units
Common units disposed to issuer: 2,491 units at $17.88
New phantom unit grant: 2,393 units
+2 more
5 metrics
Phantom units exercised
2,491 units
Exercise of phantom units into Common Units - Class A on April 1, 2026
Common units disposed to issuer
2,491 units at $17.88
Disposition of Common Units - Class A to issuer on April 1, 2026
New phantom unit grant
2,393 units
Grant vesting on April 1, 2027 with cash settlement
Common units held after transactions
15,000 units
Directly held Common Units - Class A following April 1, 2026 transactions
Phantom units held after transactions
9,824 units
Total phantom units held after exercise and new grant
Key Terms
Phantom Units, Common Units - Class A, distribution equivalent rights, disposition to issuer
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.
Common Units - Class A financial
"underlying Common Units - Class A and a simultaneous disposition"
distribution equivalent rights financial
"Award includes tandem distribution equivalent rights pursuant to which the quarterly distributions"
disposition to issuer financial
"a simultaneous disposition of the underlying Common Units - Class A to the issuer"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did GEL director Albert Conrad P report on April 1, 2026?
Director Albert Conrad P exercised 2,491 phantom units into an equal number of Common Units - Class A, then those units were disposed of to Genesis Energy LP at $17.88 per unit. He also received a new grant of 2,393 phantom units as part of his compensation.
How many Genesis Energy (GEL) common units does Albert Conrad P hold after these Form 4 transactions?
After the reported transactions, Albert Conrad P directly holds 15,000 Common Units - Class A of Genesis Energy LP. This figure reflects his position following the exercise of phantom units and the related disposition of common units back to the issuer.
What are the details of the new phantom unit grant to the GEL director?
The director received a grant of 2,393 phantom units linked to Common Units - Class A, vesting on April 1, 2027. These phantom units will be paid in cash based on the 20‑day average closing price before vesting and accrue quarterly distribution equivalent rights.
How were the exercised phantom units for GEL’s director settled financially?
Upon vesting, 2,491 phantom units were paid in cash using the average closing price of Common Units - Class A over the 20 trading days before vesting. This payment is treated as disposition of phantom units and acquisition, then disposition, of the corresponding common units to the issuer.
What are distribution equivalent rights attached to GEL phantom unit awards?
The phantom unit award includes tandem distribution equivalent rights, meaning quarterly distributions paid on each Common Unit - Class A are accrued over the vesting period. These accrued amounts are then paid quarterly to the holder alongside the phantom unit compensation structure.
How many phantom units does the GEL director hold after these compensation transactions?
Following the exercise of 2,491 phantom units and the grant of 2,393 new phantom units, the director holds a total of 9,824 phantom units. These units are cash‑settled and tied to the value and distributions of Common Units - Class A.