Global Partners (NYSE: GLP) logs LTIP-related common unit transfers

Rhea-AI Filing Summary

Global GP LLC, the general partner of Global Partners LP, reported two Form 4 transactions involving common units under the partnership’s long-term incentive plan. It delivered 247,928 common units to satisfy grant agreements dated August 22, 2023, using a reference price of $48.19 per unit, based on the issuer’s February 24, 2026 closing price. It also withheld 119,871 common units from certain award recipients who elected a cashless exercise to cover tax withholding, resulting in 24,153 common units held afterward. The reporting person disclaims any pecuniary interest in these units and does not admit beneficial ownership for Section 16 purposes.

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

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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^*

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)
02/25/2026

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 representing limited partner interests(1)	02/25/2026		J		247,928	D	$48.19(2)	0	D
Common units representing limited partner interests	02/25/2026		J		119,871(4)	A	$48.19(2)	24,153(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount 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 grant agreements dated August 22, 2023.

2. The Issuer's closing price on February 24, 2026 (the last business day immediately prior to certification).

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 certain grant award recipients who elected a cashless exercise to satisfy their respective tax withholding obligations. As a result, the Reporting Person held 24,153 Common Units after giving effect to the delivery of 247,928 Common Units to satisfy its obligations under the grant agreements less 119,871 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 LLC	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Global GP LLC report for GLP?

Global GP LLC reported two Form 4 transactions involving Global Partners LP common units. It delivered units under long-term incentive grants and withheld others for tax purposes, reflecting administrative movements rather than open-market buying or selling.

How many Global Partners LP units were delivered under the LTIP?

The reporting person delivered 247,928 Global Partners LP common units under long-term incentive plan grant agreements. These units were used to satisfy obligations from awards dated August 22, 2023, at a reference price equal to the issuer’s February 24, 2026 closing price.

Why were some GLP units withheld in this Form 4 filing?

Global GP LLC withheld 119,871 Global Partners LP common units from certain award recipients. Those recipients elected a cashless exercise, so units were retained to satisfy their tax withholding obligations, instead of recipients paying taxes in cash.

What price per unit is referenced in this GLP Form 4?

The filing references a price of $48.19 per Global Partners LP common unit. This figure reflects the issuer’s closing price on February 24, 2026, which was the last business day immediately prior to certification of the long-term incentive transactions.

Did Global GP LLC claim beneficial ownership of the GLP units?

No. Global GP LLC expressly disclaimed any pecuniary interest in the Global Partners LP common units. The filing states that the report should not be deemed an admission that the reporting person is the beneficial owner for Section 16 purposes.

How many GLP units did the reporting person hold after these transactions?

After delivering 247,928 Global Partners LP common units and withholding 119,871 units for tax obligations, the reporting person held 24,153 common units. This balance reflects the net position following the incentive plan-related movements described in the Form 4.