GLOBAL PARTNERS LP 8-K

What Happened
Global Partners LP (via its general partner Global GP LLC) filed an 8-K reporting that Sean T. Geary resigned as Chief Legal Officer effective January 1, 2026 and will continue with the company as Senior Legal Advisor. Kristin K. Seabrook, who joined the general partner on April 14, 2025 as Senior Vice President of Legal Transformation, succeeded Mr. Geary as Chief Legal Officer. On December 31, 2025 the general partner entered into a new employment agreement with Mr. Geary covering his Senior Legal Advisor role.

Key Details

• New employment agreement dated December 31, 2025; initial term January 1, 2026–December 31, 2026 and auto-renews annually unless 90 days’ prior notice is given.
• Annualized base salary: $325,000. Mr. Geary is eligible for discretionary cash bonuses, participation in short- and long-term incentive plans, and company benefits.
• Termination payments: upon termination Mr. Geary will receive accrued salary, earned bonuses, expense reimbursements and other accrued amounts. If terminated for death, disability, without “Cause,” or for certain constructive terminations, he receives (in addition) a lump-sum equal to 100% of base salary, a pro‑rated discretionary bonus, and up to 18 months of insurance premium payments. If the agreement is not renewed by the general partner, lump-sum equals 50% of base salary plus a year-of-termination bonus.
• Restrictive covenants: confidentiality for generally two years and non‑competition/non‑solicitation for one year; in certain circumstances tied to the non‑compete he may receive a payment equal to 50% of his highest annualized base salary in the prior two years.

Why It Matters
This filing documents a leadership transition in the company’s legal function and sets the compensation, benefits and potential severance liabilities tied to Sean Geary’s new Senior Legal Advisor role. For investors, the items to note are the confirmed succession (Kristin K. Seabrook as Chief Legal Officer), Mr. Geary’s continued employment and the concrete cash commitments (base salary and potential severance) that may affect near‑term operating expenses or obligations. The agreement’s renewal and severance terms also clarify the company’s ongoing legal staffing costs and post‑employment restrictions.