JASTROW KENNETH M II 4

What Happened
Kenneth M. Jastrow II, a director of Genesis Energy LP (GEL), had phantom units vest and be paid in cash on April 1, 2026. The filing shows a deemed disposition of 2,570 underlying Class A common units to the issuer at $17.88 per unit for a cash payout of $45,952. At the same time the filing records the conversion/exercise of derivative phantom units and a new grant of 2,536 phantom units (to be paid in cash on future vesting).

Key Details

• Transaction date: 2026-04-01; Form 4 filed 2026-04-02 (timely).
• Cash disposition: 2,570 units sold to issuer at $17.88 each = $45,952.
• Derivative activity: exercise/conversion entries (code M) related to phantom/unit conversion; a grant/award (code A) of 2,536 phantom units was reported.
• Shares owned after transaction: not specified in this filing.
• Footnotes: the cash payment of phantom units is treated as (1) disposition of the phantom units, (2) acquisition of underlying Class A units, and (3) immediate disposition of those underlying units to the issuer. Cash payout amount was based on the 20‑day average closing price prior to vesting; the new phantom-unit award includes tandem distribution-equivalent rights (accrued and paid quarterly).

Context

• These entries reflect a cash settlement of vested phantom units rather than an open-market sale or an outright purchase of stock. The director did not keep the underlying units; they were effectively converted to cash via the issuer.
• The filing shows both the payout of vested phantom units and a fresh grant of phantom units that will pay in cash upon future vesting, so this is largely routine compensation-related activity rather than an outright buy or long-term acquisition signal.