GASAWAY SHARILYN S 4

What Happened
Sharilyn Gasaway, a director of Genesis Energy LP (GEL), had 2,491 Common Units (Class A) settled and disposed to the issuer on April 1, 2026 at $17.88 per unit, generating $44,539 in proceeds. The Form 4 also records the exercise/conversion of derivative interests related to those units and a separate grant of 2,393 phantom units (a derivative award).

Key Details

• Transaction date: 2026-04-01; filing date: 2026-04-02 (timely).
• Disposition: 2,491 units sold to the issuer at $17.88 each, total $44,539.
• Grants/derivatives: 2,393 phantom units awarded (derivative), which will be paid in cash based on a 20-day average price at vesting.
• The filing records exercise/conversion of derivative interests (code M) connected to the settled units and the cash settlement/disposition to the issuer (code D).
• Shares owned after the transaction: not specified in this filing.
• Relevant footnotes: F1–F3 explain phantom units are cash-settled using the 20-trading-day average and such settlements are treated as an acquisition of underlying units and simultaneous disposition to the issuer; F4 notes the award includes tandem distribution-equivalent rights.

Context
This appears to be a routine cash settlement of phantom/derivative awards rather than an open-market sale: phantom units vested/settled for cash (per footnotes) and were exchanged with the issuer. Such settlements are typically part of director compensation and do not necessarily signal a personal view on the company's near-term prospects.