[Form 4] Global Partners LP Insider Trading Activity

Rhea-AI Filing Summary

Global GP LLC reported the purchase of common units of Global Partners LP (GLP) on 09/05/2025 to satisfy awards under the company’s Long-Term Incentive Plan. The filing shows an aggregate purchase of 2,500 common units at a weighted-average price of $51.60, with transaction prices ranging from $51.25 to $51.85. After the reported purchase, Global GP LLC beneficially owns 149,501 common units, though the reporting person disclaims any pecuniary interest and states this should not be construed as admission of beneficial ownership. The report was signed by Erin Powers Brennan as attorney-in-fact on 09/08/2025. The filing discloses that the units were purchased to satisfy previously granted director and officer awards under the LTIP.

Positive

• Transparent disclosure of price range and weighted-average price for the purchase ($51.25–$51.85; $51.60 weighted average)
• Compliance with Section 16 reporting requirements including signature by attorney-in-fact and explanation that purchases satisfy LTIP awards

Negative

• None.

Insights

Securities Analyst

TL;DR: Issuer-related buy to satisfy LTIP awards; modest unit purchase relative to total holding, procedural disclosure.

The Form 4 documents a 2,500-unit purchase by Global GP LLC at a weighted-average price of $51.60 to satisfy Long-Term Incentive Plan obligations. This is a mechanical acquisition tied to compensation awards rather than an open-market investment decision by an individual insider. The filer also disclaims pecuniary interest, which limits claims of direct insider accumulation. For investors, the transaction clarifies grant settlement mechanics and updates beneficial ownership to 149,501 units.

Corporate Governance Expert

TL;DR: Compensation-related issuance settled via market purchases; disclosure aligns with Section 16 requirements.

The disclosure specifies the purchases were executed to satisfy director and officer awards under the LTIP and provides price-range detail ($51.25–$51.85) and a weighted-average price ($51.60), improving transparency around grant settlement. The reporting person’s disclaimer of pecuniary interest is a standard governance note when a general partner effects purchases for plan obligations. The filing meets Form 4 mechanics: transaction code P, ownership update, and signature by an attorney-in-fact.

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^*

Global GP LLC

(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
	Officer (give title below)	X	Other (specify below)
			General Partner

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		P(1)		2,500	A	$51.6(2)	149,501(1)	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. Global GP LLC is purchasing common units for the purpose of satisfying obligations pursuant to awards previously granted to directors and officers under the Global Partners LP Long-Term Incentive Plan ("LTIP"). The reporting person disclaims any pecuniary interest in these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for the purpose of Section 16.

2. The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $51.25 to $51.85, inclusive. The reporting person undertakes to provide to Global Partners LP, any security holder of Global Partners LP, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of common units purchased at each separate price within the ranges set forth in this footnote (2) to this Form 4.

	Erin Powers Brennan, Attorney-in-Fact for Global GP LLC	09/08/2025
	** 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 Global GP LLC report on Form 4 for GLP?

The filing reports a purchase of 2,500 common units of Global Partners LP on 09/05/2025 to satisfy LTIP awards.

At what price were the GLP units purchased?

The purchases were made at prices ranging from $51.25 to $51.85 with a reported weighted-average price of $51.60.

How many GLP units does Global GP LLC own after the transaction?

After the reported purchase, Global GP LLC beneficially owns 149,501 common units.

Why did Global GP LLC buy the GLP units?

The units were purchased to satisfy awards previously granted to directors and officers under the Global Partners LP Long-Term Incentive Plan (LTIP).

Who signed the Form 4 for Global GP LLC?

The Form 4 was signed by Erin Powers Brennan, Attorney-in-Fact, on 09/08/2025.