GLOBAL PARTNERS LP (GLP) CLO converts 3,393 Phantom Units, 1,640 withheld for taxes

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

GLOBAL PARTNERS LP Chief Legal Officer Kristin K. Seabrook exercised 3,393 Phantom Units into an equal number of common units representing limited partner interests. Of these common units, 1,640 were withheld at a price of $45.86 per unit to cover her tax withholding obligations, leaving her with 1,753 common units held directly after the transactions.

Insider Trade Summary

3,393 shares exercised/converted

Mixed 3 txns

Insider Seabrook Kristin K.

Role Chief Legal Officer & Secy.

Type	Security	Shares	Price	Value
Exercise	Phantom Units	3,393	$0.00	--
Exercise	Common units representing limited partner interests	3,393	$0.00	--
Tax Withholding	Common units representing limited partner interests	1,640	$45.86	$75K

Holdings After Transaction: Phantom Units — 6,785 shares (Direct); Common units representing limited partner interests — 3,393 shares (Direct)

Footnotes (1)

Each phantom unit representing the right to receive one common unit upon vesting ("Phantom Unit") converts into a common unit representing a limited partnership interest in the Issuer ("Common Unit") on a one-for-one basis. Pursuant to a Grant Agreement dated April 14, 2025, the Reporting Person was granted 10,178 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units granted vested or will vest as follows: one-third on April 14, 2026, one-third on April 14, 2027, and one-third on April 14, 2028. Each Common Unit was withheld at the request of the Reporting Person to satisfy the tax withholding obligations of the Reporting Person.

Key Figures

Phantom Units exercised: 3,393 units Common units issued: 3,393 units Units withheld for taxes: 1,640 units +4 more

7 metrics

Phantom Units exercised 3,393 units Converted into common units on April 14, 2026

Common units issued 3,393 units Received upon Phantom Unit conversion

Units withheld for taxes 1,640 units Withheld at $45.86 per unit to cover tax obligations

Withholding price $45.86 per unit Value used for tax-withholding disposition of common units

Common units held after transaction 1,753 units Direct holdings following the April 14, 2026 transactions

Total Phantom Units granted 10,178 units Grant Agreement dated April 14, 2025

Vesting schedule fractions One-third per year Vests on April 14 of 2026, 2027, and 2028

Key Terms

Phantom Units, limited partnership interest, Grant Agreement, vesting conditions, +1 more

5 terms

Phantom Units financial

"Each phantom unit representing the right to receive one common unit upon vesting"

Phantom units are a form of employee compensation that mimics ownership in a company without issuing real shares: recipients receive cash or stock value tied to the company’s share price or performance when the units vest. They matter to investors because phantom units align employee incentives with shareholder value while avoiding share dilution; however, they create future cash obligations and can affect a company’s financial statements and cash flow.

limited partnership interest financial

"converts into a common unit representing a limited partnership interest in the Issuer"

Grant Agreement financial

"Pursuant to a Grant Agreement dated April 14, 2025, the Reporting Person was granted 10,178 Phantom Units"

vesting conditions financial

"Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units granted vested or will vest"

Vesting conditions are the rules that determine when someone earning company stock or stock options actually gains the right to keep or sell them, typically based on staying with the company for a set time or meeting performance targets. Think of it like keys that unlock gradually — some unlock by calendar date, others only after agreed milestones. Investors care because vesting shapes management incentives, the timing of share sales, and the number of shares that can enter the market, which can affect a company's valuation and ownership mix.

tax withholding obligations financial

"Each Common Unit was withheld at the request of the Reporting Person to satisfy the tax withholding obligations"

Form 4 Insider Transactions: What Each Field Means →

04/15/2026 - 04:42 PM

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^*

Seabrook Kristin K.

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Legal Officer & Secy.

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common units representing limited partner interests⁽¹⁾	04/14/2026		M		3,393⁽²⁾	A	$0	3,393	D
Common units representing limited partner interests	04/14/2026		F		1,640⁽³⁾	D	$45.86	1,753	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Units⁽¹⁾	$0	04/14/2026		M			3,393	⁽²⁾	⁽²⁾	Common units representing limited partner interests	3,393	$0	6,785	D

Explanation of Responses:

1. Each phantom unit representing the right to receive one common unit upon vesting ("Phantom Unit") converts into a common unit representing a limited partnership interest in the Issuer ("Common Unit") on a one-for-one basis.

2. Pursuant to a Grant Agreement dated April 14, 2025, the Reporting Person was granted 10,178 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units granted vested or will vest as follows: one-third on April 14, 2026, one-third on April 14, 2027, and one-third on April 14, 2028.

3. Each Common Unit was withheld at the request of the Reporting Person to satisfy the tax withholding obligations of the Reporting Person.

	Erin Powers Brennan, Attorney-in-Fact for Kristin K. Seabrook	04/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did GLOBAL PARTNERS LP (GLP) report for Kristin K. Seabrook?

GLOBAL PARTNERS LP reported that Chief Legal Officer Kristin K. Seabrook exercised 3,393 Phantom Units into common units. A portion of these newly issued common units was immediately withheld to satisfy her tax withholding obligations related to the vesting of these equity awards.

How many GLOBAL PARTNERS LP (GLP) Phantom Units did Kristin K. Seabrook convert?

Kristin K. Seabrook converted 3,393 Phantom Units into 3,393 common units representing limited partner interests. Each Phantom Unit converts into one common unit on a one-for-one basis once vesting conditions under the applicable Grant Agreement are satisfied.

How many GLOBAL PARTNERS LP (GLP) common units were withheld for taxes?

A total of 1,640 GLOBAL PARTNERS LP common units were withheld at a price of $45.86 per unit. These units were withheld at Ms. Seabrook’s request specifically to satisfy her tax withholding obligations arising from the vesting and settlement of the Phantom Units.

What are Phantom Units in the GLOBAL PARTNERS LP (GLP) equity plan?

Phantom Units are awards representing the right to receive one GLOBAL PARTNERS LP common unit upon vesting. Once vesting conditions are met, each Phantom Unit automatically converts on a one-for-one basis into a common unit representing a limited partnership interest in the issuer.

How many GLOBAL PARTNERS LP (GLP) units does Kristin K. Seabrook hold after these transactions?

Following the reported transactions, Kristin K. Seabrook directly holds 1,753 common units of GLOBAL PARTNERS LP. This reflects the newly issued units from the Phantom Unit conversion after subtracting the 1,640 units withheld to cover her associated tax obligations.

What does the April 14, 2025 GLOBAL PARTNERS LP (GLP) Grant Agreement provide for Kristin K. Seabrook?

The April 14, 2025 Grant Agreement awarded Kristin K. Seabrook 10,178 Phantom Units. These units vest in three equal installments: one-third on April 14, 2026, one-third on April 14, 2027, and the final one-third on April 14, 2028, subject to vesting conditions.