Davison James E 4

What Happened

• James E. Davison, a director of Genesis Energy LP (GEL), had 2,372 phantom/common-unit equivalents paid out in cash to the issuer on 2026-04-01. The filing reports a disposition to the issuer of 2,372 units at $17.88 each, totaling $42,411. The filing also shows a simultaneous conversion/exercise of derivative rights and a new grant of 2,286 phantom units (an award/derivative acquisition).
• This was a cash settlement with the issuer (not an open-market sale). The phantom units were paid based on the applicable average closing price and replaced by a new award of phantom units that will vest per the award terms.

Key Details

• Transaction date: 2026-04-01; Form 4 filed 2026-04-02 (timely).
• Sale/disposition: 2,372 units at $17.88 each, total proceeds $42,411.
• Award/grant: 2,286 phantom units granted (derivative; acquisition recorded).
• Shares owned after transaction: not disclosed in this filing.
• Notable footnotes:
  • F1/F2/F4: Phantom units were paid in cash based on the 20‑day average closing price prior to vesting; the cash payment is treated as an exchange for and simultaneous disposition of the underlying Class A common units to the issuer.
  • F5: Award includes tandem distribution-equivalent rights (quarterly distributions accrue over vesting and are paid quarterly).
  • F3: Reporting person is sole stockholder of Terminal Services, Inc.
• Transaction types in filing: M = exercise/conversion of derivative, D = disposition to issuer, A = award/grant.

Context

• This was a cash settlement of phantom/unit awards (a common form of director compensation) rather than an open-market sale—so it typically reflects payoff of vested compensation rather than a straightforward insider sell signal.
• The filing shows both a cash-out of vested units and a new grant of phantom units, indicating ongoing compensation arrangements.