Romaine Mark 4

What Happened

• Mark Romaine, COO of Global Partners LP (GLP), had 47,210 performance phantom units convert into common units on Feb 25, 2026 (acquisition at $0.00). To satisfy tax withholding, 22,826 of those Common Units were withheld/disposed on Feb 25, 2026 at $48.19 per unit, totaling $1,099,985. On Feb 26, 2026 he was also granted 24,498 phantom units (derivative award) at $0.00. The withholding is a tax-payment disposition (routine) rather than an open-market sale.

Key Details

• Transactions/dates:
  • 2026-02-25: Award/settlement — 47,210 Common Units acquired (A) at $0.00 (from Performance Units).
  • 2026-02-25: Tax withholding/disposition — 22,826 Common Units disposed (F) at $48.19 for $1,099,985.
  • 2026-02-26: Grant — 24,498 Phantom Units (A) at $0.00 (derivative).
• Footnotes of note:
  • F2: The 47,210 Common Units resulted from Performance Units granted Aug 22, 2023; Romaine earned 200% of target and all settled in Common Units.
  • F3: The 22,826 Common Units were withheld at the reporting person’s request to satisfy tax withholding obligations.
  • F1/F4: Phantom Units convert one-for-one into Common Units on vesting; the 24,498 Phantom Units vest one-third on Jan 5 of 2027, 2028 and 2029.
• Shares owned after transaction: not specified in the filing.
• Filing: Report covers transactions on Feb 25–26, 2026 and was filed Feb 27, 2026 (appears timely).

Context

• This was not an open-market sale; the 22,826-unit disposition was a tax-withholding action following vesting of performance units (common practice when awards settle). The new 24,498 phantom units are time-based/vesting derivatives that will convert to common units if vesting conditions are met. No inference should be drawn about personal views of the stock beyond the mechanical tax and award-related activity.