Form 4: Global GP LLC acquires 14,953 Global Partners LP units (GLP)

Rhea-AI Filing Summary

Global GP LLC reported purchases of common units of Global Partners LP (GLP) across three days in August 2025 to satisfy awards under the Global Partners LP Long-Term Incentive Plan. The reporting entity acquired 4,953 units on 08/12/2025 at a weighted average price of $49.42, 5,000 units on 08/13/2025 at a weighted average price of $50.80, and 5,000 units on 08/14/2025 at a weighted average price of $50.99, for a total of 14,953 units purchased. Following these transactions, the report shows 109,501 common units beneficially owned by the reporting person. The filing states the purchases were made to satisfy LTIP obligations and includes a disclaimer that the reporting person disclaims any pecuniary interest and does not admit beneficial ownership for Section 16 purposes.

Positive

• Transparent disclosure of transaction dates, amounts and weighted average prices for each purchase
• Purpose of purchases is stated: to satisfy awards under the Global Partners LP Long-Term Incentive Plan
• Post-transaction ownership provided: holdings increased to 109,501 common units

Negative

• Disclaimer of pecuniary interest may limit clarity on whether Global GP LLC is the beneficial owner for Section 16 purposes
• Weighted average prices reported with ranges but not broken down by individual trades (footnotes offer to provide details only upon request)

Insights

Securities Analyst

TL;DR: Reporting entity bought 14,953 GLP units over three days to satisfy LTIP awards; holdings rose to 109,501 units, with weighted average prices disclosed.

The purchases are explicitly tied to satisfying previously granted LTIP awards and occurred on 08/12/2025, 08/13/2025 and 08/14/2025 at reported weighted average prices of $49.42, $50.80 and $50.99 respectively. The filing discloses a total of 109,501 common units held after the transactions and includes a formal disclaimer regarding pecuniary interest and beneficial ownership. For investors, this is a routine Section 16 disclosure of insider-related plan-driven purchases rather than an ad hoc open-market accumulation.

Corporate Governance Expert

TL;DR: Transactions were plan-driven LTIP purchases by Global GP LLC; disclosure includes customary disclaimers about beneficial ownership.

The Form 4 clearly states the acquisitions were made to satisfy LTIP awards and provides weighted average price ranges for the transactions. The report identifies the filer as an officer/general partner and includes an explicit disclaimer that the reporting person disclaims pecuniary interest. The level of disclosure—dates, amounts, prices and the purpose—meets Section 16 reporting requirements and allows stakeholders to track dilution or insider-related unit movements tied to compensation plans.

Insider Trade Summary

Net Buyer: 14,953 shares ($753,727)

Net Buy 3 txns

Insider Global GP LLC

Role Insider

Bought 14,953 shs ($754K)

Type	Security	Shares	Price	Value
Purchase	Common units representing limited partner interests	5,000	$50.99	$255K
Purchase	Common units representing limited partner interests	5,000	$50.80	$254K
Purchase	Common units representing limited partner interests	4,953	$49.42	$245K

Holdings After Transaction: Common units representing limited partner interests — 109,501 shares (Direct)

Footnotes (1)

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. The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $49.15 to $49.71, 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. The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $50.49 to $51.41, 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 (3) to this Form 4. The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $50.68 to $51.45, 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 (4) to this Form 4.

Form 4 Insider Transactions: What Each Field Means →

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)
08/12/2025

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	08/12/2025		P(1)		4,953	A	$49.42(2)	99,501(1)	D
Common units representing limited partner interests	08/13/2025		P(1)		5,000	A	$50.8(3)	104,501(1)	D
Common units representing limited partner interests	08/14/2025		P(1)		5,000	A	$50.99(4)	109,501(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 $49.15 to $49.71, 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.

3. The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $50.49 to $51.41, 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 (3) to this Form 4.

4. The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $50.68 to $51.45, 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 (4) to this Form 4.

	Erin Powers Brennan, Attorney-in-Fact for Global GP LLC	08/14/2025
	** 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 transactions did Global GP LLC report for GLP?

Global GP LLC purchased 14,953 common units of Global Partners LP across 08/12/2025–08/14/2025 in three transactions.

At what prices were the GLP units purchased?

Weighted average prices reported were $49.42 on 08/12/2025, $50.80 on 08/13/2025, and $50.99 on 08/14/2025; footnotes state purchases occurred within specified price ranges.

Why were the units purchased?

The purchases were made to satisfy awards previously granted under the Global Partners LP Long-Term Incentive Plan (LTIP).

How many GLP units does the reporting person own after these transactions?

The report shows 109,501 common units beneficially owned following the reported transactions.

Does the reporting person claim beneficial ownership of the units?

No. The filing disclaims any pecuniary interest and states it should not be deemed an admission of beneficial ownership for Section 16 purposes.