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Global Partners LP (GLP) reports LTIP unit delivery and tax withholding moves

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Global GP LLC, the general partner of GLOBAL PARTNERS LP, reported administrative transfers of common units tied to the partnership’s Long-Term Incentive Plan. On April 14, 2026, it delivered 3,393 common units under a grant agreement and withheld 1,640 units to cover tax obligations for a cashless exercise election.

The reporting person states it has no pecuniary interest in these units and disclaims beneficial ownership. After these LTIP-related transfers and withholdings, Global GP LLC held 22,400 common units representing limited partner interests.

Positive

  • None.

Negative

  • None.
Insider Global GP LLC
Role null
Type Security Shares Price Value
Other Common units representing limited partner interests 3,393 $45.86 $156K
Other Common units representing limited partner interests 1,640 $45.86 $75K
Holdings After Transaction: Common units representing limited partner interests — 20,760 shares (Direct, null)
Footnotes (1)
  1. The Reporting Person is delivering common units representing limited partner interests in the Issuer ("Common Units") under the Global Partners LP Long-Term Incentive Plan ("LTIP") to satisfy its obligations pursuant to a grant agreement dated April 14, 2025. The Issuer's closing price on April 13, 2026 (the last business day immediately prior to vesting). The Reporting Person disclaims any pecuniary interest in the Common Units and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the Common Units for purposes of Section 16. The Reporting Person withheld Common Units from the grant award recipient who elected a cashless exercise to satisfy their respective tax withholding obligations. As a result, the Reporting Person held 22,400 Common Units after giving effect to the delivery of 3,393 Common Units to satisfy its obligations under the grant agreements less 1,640 Common Units that were withheld by the Reporting Person for tax purposes prior to such delivery.
LTIP units delivered 3,393 units Common units delivered under LTIP grant agreement on April 14, 2026
Units withheld for taxes 1,640 units Common units withheld to satisfy tax obligations on cashless exercise
Price per unit reference $45.86 per unit Issuer’s closing price on April 13, 2026, used for LTIP valuation
Units held after transactions 22,400 units Global GP LLC holdings after LTIP delivery and withholding
Restructuring shares total 5,033 units Total units involved in J-code restructuring entries
Long-Term Incentive Plan financial
"delivering common units representing limited partner interests in the Issuer ("Common Units") under the Global Partners LP Long-Term Incentive Plan ("LTIP")"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
cashless exercise financial
"grant award recipient who elected a cashless exercise to satisfy their respective tax withholding obligations"
A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.
tax withholding obligations financial
"elected a cashless exercise to satisfy their respective tax withholding obligations"
pecuniary interest financial
"The Reporting Person disclaims any pecuniary interest in the Common Units"
beneficial owner financial
"shall not be deemed an admission that the Reporting Person is the beneficial owner of the Common Units"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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*
Global GP LLC
(Last)(First)(Middle)
C/O GLOBAL PARTNERS LP
800 SOUTH STREET, SUITE 500
(Street)
WALTHAM MASSACHUSETTS 02453
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
GLOBAL PARTNERS LP [ GLP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
Officer (give title below)XOther (specify below)
General Partner
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/14/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common units representing limited partner interests(1)04/14/2026J3,393D$45.86(2)20,760D
Common units representing limited partner interests04/14/2026J1,640(4)A$45.86(2)22,400(3)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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The Reporting Person is delivering common units representing limited partner interests in the Issuer ("Common Units") under the Global Partners LP Long-Term Incentive Plan ("LTIP") to satisfy its obligations pursuant to a grant agreement dated April 14, 2025.
2. The Issuer's closing price on April 13, 2026 (the last business day immediately prior to vesting).
3. The Reporting Person disclaims any pecuniary interest in the Common Units and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the Common Units for purposes of Section 16.
4. The Reporting Person withheld Common Units from the grant award recipient who elected a cashless exercise to satisfy their respective tax withholding obligations. As a result, the Reporting Person held 22,400 Common Units after giving effect to the delivery of 3,393 Common Units to satisfy its obligations under the grant agreements less 1,640 Common Units that were withheld by the Reporting Person for tax purposes prior to such delivery.
Erin Powers Brennan, Attorney-in-Fact for Global GP LLC04/27/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did Global GP LLC report for GLOBAL PARTNERS LP (GLP)?

Global GP LLC reported administrative LTIP-related unit transfers, not open-market trades. It delivered 3,393 common units under a grant agreement and withheld 1,640 units to cover tax obligations from a cashless exercise election, all within the issuer’s Long-Term Incentive Plan.

Did Global GP LLC buy or sell GLOBAL PARTNERS LP (GLP) units on the market?

No, the filing shows no open-market purchases or sales. The transactions are coded "J" as other acquisitions or dispositions related to the Long-Term Incentive Plan, including delivery of units under grant agreements and withholding units for tax obligations on a cashless exercise.

How many GLOBAL PARTNERS LP (GLP) units does Global GP LLC hold after these transactions?

After the LTIP-related transfers and tax withholding, Global GP LLC held 22,400 common units. This post-transaction balance reflects 3,393 units delivered under grant agreements offset by 1,640 units withheld to satisfy tax obligations associated with a cashless exercise election.

What price per unit was used in Global GP LLC’s LTIP reporting for GLP?

The filing references a price of $45.86 per common unit. This corresponds to GLOBAL PARTNERS LP’s closing price on April 13, 2026, the last business day immediately before vesting, and is used to value the LTIP-related delivery and withholding transactions.

Does Global GP LLC claim beneficial ownership of the reported GLOBAL PARTNERS LP (GLP) units?

Global GP LLC disclaims any pecuniary interest in the reported common units. The filing states that it should not be deemed the beneficial owner of these units for Section 16 purposes, even though the units move through its account under the Long-Term Incentive Plan.