Davison James E. Jr. 4

What Happened

• James E. Davison Jr., a director of Genesis Energy LP (GEL), had derivative units converted/paid out and disposed of underlying Common Units on April 1, 2026. The filing shows a disposition of 2,372 Common Units at $17.88 per unit, totaling $42,411. The report also records a grant/award of 2,286 phantom units (derivative award) granted the same date; exercise/conversion line items are reported as N/A for per-share price.

Key Details

• Transaction date: 2026-04-01; Form 4 filed 2026-04-02 (appears timely).
• Sale/disposition: 2,372 Common Units @ $17.88 = $42,411.
• Derivative activity: conversion/exercise entries for 2,372 units (price N/A) and a grant of 2,286 phantom units (award).
• Footnotes:
  • Phantom units are cash-settled and their cash payment is treated as a disposition of phantom units in exchange for the underlying Common Units and an immediate disposition of those underlying units to the issuer (F1, F2, F5).
  • Phantom units are paid in cash based on the 20-day average closing price before vesting (F2, F5).
  • The award includes tandem distribution-equivalent rights accruing quarterly over the vesting period (F6).
  • Several Common Units reported may be held indirectly by related trusts; the reporting person disclaims beneficial ownership beyond any pecuniary interest (F3, F4).
• Shares owned after transaction: not specified in the provided excerpt of the filing.

Context

• This looks like a cash settlement/cashless conversion of phantom/derivative units followed by an immediate disposition to the issuer, rather than an open-market sale — a common form of compensation settlement, not necessarily a market-driven sell signal.
• The filing also records a new grant of phantom units (cash-settled awards) that will pay based on a 20-trading-day average price when they vest.
• No indication in the filing excerpt that this was a gift, 10b5-1 plan, or late filing.