Global Partners (GLP) COO Disposes 9,000 Units Under 10b5-1 Plan

Rhea-AI Filing Summary

Mark Romaine, Chief Operating Officer of Global Partners LP (GLP), reported a sale of 9,000 common units on 08/15/2025 under a 10b5-1 plan dated March 25, 2025. The units were sold at a weighted average price of $50.38, with transaction prices ranging from $50.00 to $51.26. After the reported disposition, the filing shows 139,531 common units beneficially owned by the reporting person in a direct ownership form. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Romaine on 08/18/2025. The filer offers to provide detailed per-price sale breakdowns on request.

Positive

• Sale executed under a 10b5-1 plan, indicating pre-planned, rule-compliant disposition
• Reporting person retains 139,531 common units, showing continued material ownership
• Filing offers granular disclosure (will provide per-price breakdown on request), supporting transparency

Negative

• Aggregate reporting of weighted average price and total units hides per-trade prices unless requested
• Transaction reduces insider holdings by 9,000 units, a meaningful cash-out though materiality depends on holder size

Insights

Financial Analyst

TL;DR: Insider sold a modest stake under a pre-established 10b5-1 plan; remaining holdings stay material.

The sale of 9,000 common units at a weighted average of $50.38 represents a routine, pre-planned disposition rather than an impromptu sale. The reporting person retains 139,531 units after the transaction, indicating continued significant exposure to GLP equity. Because the sale was executed pursuant to a 10b5-1 plan dated March 25, 2025, the trade signals use of an affirmative defense to safe-harbor trading windows and reduces the likelihood that the transaction reflects new private information. The filing discloses a price range ($50.00–$51.26) and offers to provide granular per-price details on request.

Corporate Governance Expert

TL;DR: Officer-level sale followed documented plan; governance disclosure appears complete and compliant.

The Form 4 indicates transparent compliance with Section 16 reporting: relationship (Chief Operating Officer) is disclosed, the 10b5-1 plan is cited, and the signature was filed via attorney-in-fact. The disclosure that unit sales occurred across a price range and the offer to provide itemized price breakdowns supports thorough record-keeping. There is no indication in this filing of unusual timing or possible withholding of material details beyond standard aggregated reporting of weighted average price and total units sold.

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

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^*

Romaine Mark

(Last) (First) (Middle)

C/O GLOBAL PARTNERS LP

800 SOUTH STREET, SUITE 500

(Street)

WALTHAM MA 02453

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GLOBAL PARTNERS LP [ GLP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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 representing limited partner interests	08/15/2025		S(1)		9,000	D	$50.38(2)	139,531	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

Explanation of Responses:

1. Sale pursuant to 10b5-1 Plan dated March 25, 2025.

2. Common Units representing limited partner interests in the Issuer ("Common Units") were sold at a weighted average price. These common units were sold in multiple transactions at prices from $50.00 to $51.26, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Units sold at each separate price within the range set forth in this footnote (2) to this Form 4

	Erin Powers Brennan, Attorney-in-Fact for Mark Romaine	08/18/2025
	** Signature of Reporting Person	Date
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.

FAQ

What did GLP insider Mark Romaine report on Form 4?

He reported selling 9,000 common units on 08/15/2025 under a 10b5-1 plan, with a weighted average price of $50.38.

How many GLP units does Mark Romaine own after the sale?

139,531 common units are reported as beneficially owned following the transaction.

Was the sale by Mark Romaine pre-planned or ad hoc?

The sale was executed pursuant to a 10b5-1 plan dated March 25, 2025, indicating a pre-established trading plan.

What price range were the GLP units sold at?

The units were sold at prices ranging from $50.00 to $51.26; the weighted average price reported is $50.38.

Who signed the Form 4 filing for Mark Romaine?

The Form 4 was signed by Erin Powers Brennan, Attorney-in-Fact, on behalf of Mark Romaine on 08/18/2025.