Seabrook Kristin K. 4

What Happened
Kristin K. Seabrook, Chief Legal Officer and Secretary of GLOBAL PARTNERS LP (GLP), received an award of 11,784 phantom units on February 26, 2026. The grant is recorded as a derivative award at $0.00 per unit (no cash paid). Each phantom unit converts one-for-one into a common unit upon vesting.

Key Details

• Transaction date: 2026-02-26; Form 4 filed: 2026-02-27 (timely filing).
• Transaction type/code: Award (A) — 11,784 phantom units granted at $0.00.
• Vesting: Per the Grant Agreement, the units vest one-third on Jan 5, 2027; one-third on Jan 5, 2028; and one-third on Jan 5, 2029 (Footnote F2).
• Conversion: Each Phantom Unit converts into one common unit on a 1:1 basis upon vesting (Footnote F1).
• Shares owned after transaction: Not specified in the filing.
• No 10b5-1 plan, tax-withholding sale, or cash exercise noted in the filing.

Context
Phantom units are a form of long-term, non-cash equity-based compensation that convert to actual partnership units only when they vest; they usually serve as retention/incentive awards rather than immediate market buys or sells. Because this is an award rather than a purchase or sale, it does not represent an immediate cash investment by the insider and should be viewed as part of compensation alignment rather than a direct trading signal.