MCKOWN DAVID K 4
4 · GLOBAL PARTNERS LP · Filed Aug 18, 2017
Insider Transaction Report
Form 4
MCKOWN DAVID K
Director
Transactions
- Award
Phantom Units
2017-08-16+4,777→ 4,777 totalExercise: $0.00→ Common units representing limited partner interests (4,777 underlying)
Holdings
- 10,572
Common units representing limited partner interests
Footnotes (3)
- [F1]Each phantom unit representing the right to receive one common unit upon vesting ("Phantom Unit") is the economic equivalent of one common unit representing a limited partner interest in the Issuer ("Common Unit") upon vesting.
- [F2]Each Phantom Unit converts into a Common Unit on a one-for-one basis.
- [F3]Pursuant to a Grant Agreement dated August 16, 2017, the Reporting Person was granted 4,777 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units cliff vest 100% on August 1, 2020 and shall be paid via a cash payment equal to the Fair Market Value of one Common Unit on the day immediately preceding the payment date for each Phantom Unit that is to be settled.