JASTROW KENNETH M II 4

4 · GENESIS ENERGY LP · Filed Jul 2, 2026

AI-generated summary of this filing

Updated Jul 2, 2026

Genesis Energy (GEL) Director Kenneth M. Jastrow II Cash‑Settles Phantom Units

What Happened

Kenneth M. Jastrow II, a director of Genesis Energy LP (GEL), had 2,649 phantom units vest and be cash‑settled on 2026-07-01, resulting in a cash payment equal to the underlying common units valued at $14.77 each for a total of $39,126. The filing also shows a grant of 3,154 new phantom units (an award) on the same date.
This was a cash settlement of phantom units (not an open‑market sale of his shares). The transaction is recorded as an exercise/conversion of a derivative followed by a disposition to the issuer — effectively converting vested phantom units to cash.

Key Details

Transaction date: 2026-07-01; Filing date: 2026-07-02 (timely).
Cash‑settled disposition: 2,649 units at $14.77 each = $39,126.
New award: 3,154 phantom units granted (no per‑unit price disclosed).
Footnotes: Vesting payment is cash based on the 20‑day average closing price prior to vesting (F1–F3). The award includes tandem distribution equivalent rights that accrue distributions during the vesting period and are paid quarterly (F4).
Shares owned after the transaction: not specified in this Form 4.

Context

These phantom units are cash‑settled awards — the director did not sell existing common units on the open market. Cash settlement is common for deferred compensation and does not necessarily signal a change in his view of the company.
For investors, purchases are generally more informative than routine cash settlements; this filing documents compensation and payout mechanics rather than an investment decision.

Form 4

Period: 2026-07-01

Director

Transactions

Exercise/Conversion
Common Units - Class A
[F1][F2]
2026-07-01+2,649→ 152,649 total
Disposition to Issuer
Common Units - Class A
[F1][F2]
2026-07-01$14.77/sh−2,649$39,126→ 150,000 total
Exercise/Conversion
Phantom Units
[F2]
2026-07-01−2,649→ 8,015 total
From: 2026-07-01Exp: 2026-07-01→ Common Units - Class A (2,649 underlying)
Award
Phantom Units
[F3][F4]
2026-07-01+3,154→ 11,169 total
From: 2027-07-01Exp: 2027-07-01→ Common Units - Class A (3,154 underlying)

Footnotes (4)

[F1]The payment of the phantom units in cash is deemed to be a disposition of the phantom units in exchange for the acquisition of the underlying Common Units - Class A and a simultaneous disposition of the underlying Common Units - Class A to the issuer.
[F2]Upon vesting, the phantom units were paid in cash based on the average closing price of the Common Units - Class A for the 20 trading days immediately prior to the date of vesting.
[F3]The phantom units will be paid in cash based on the average closing price of the Common Units - Class A for the 20 trading days immediately prior to the vesting date.
[F4]Award includes tandem distribution equivalent rights pursuant to which the quarterly distributions paid by the partnership on each Common Unit - Class A will be accrued over the vesting period and paid quarterly.

Signature

Kenneth M. Jastrow II|2026-07-02

1 file