GLOBAL PARTNERS LP 4
4 · GLOBAL PARTNERS LP · Filed Sep 21, 2015
Insider Transaction Report
Form 4
McKown David K
Director
Transactions
- Award
Phantom units
2015-09-18+10,659→ 10,659 totalExercise: $0.00From: 2016-01-02Exp: 2018-01-02→ Common units representing limited partner interests (10,659 underlying)
Footnotes (2)
- [F1]Pursuant to a Grant Agreement dated September 18, 2015 ("Grant Agreement"), the Reporting Person was granted 10,659 ("Phantom Units") under the Global Partners LP Long-Term Incentive Plan. Each Phantom Unit is the economic equivalent of one common unit representing a limited partner interest in the Issuer.
- [F2]Upon satisfying the vesting conditions set forth in the Grant Agreement, the Phantom Units will vest as follows: 33 1/3% each on January 2, 2016, January 2, 2017 and January 2, 2018 and shall be paid in cash payment equal to the Fair Market Value of one common unit representing a limited partner interest on the day immediately preceding the payment date for each vested Phantom Unit that is to be settled.