Bernier Jean 4
4 · CrossAmerica Partners LP · Filed Nov 21, 2019
Insider Transaction Report
Form 4
Bernier Jean
Director
Transactions
- Exercise/Conversion
Common Units
2019-11-19+3,288→ 6,404 total - Exercise/Conversion
Phantom Units
2019-11-19−3,288→ 0 total→ Common Units (3,288 underlying)
Footnotes (3)
- [F1]On November 19, 2019 CST Brands, LLC ("Seller"), CST GP, LLC, CST Brands Holdings, LLC, certain subsidiaries of Seller (collectively, the "Seller Group"), Lehigh Gas GP Holdings LLC (the "GP Buyer"), Dunne Manning CAP Holdings II LLC (the "IDR Buyer"), and Dunne Manning Cap Holdings I LLC (the "LP Buyer" and collectively with the GP Buyer and the IDR Buyer, the "Buyers") entered into a Securities Purchase Agreement (the "SPA"). At the discretion of the Issuer and contingent upon the execution of and under the terms of the SPA, each award of unvested Phantom units outstanding immediately prior to the effective time of the SPA became fully vested and was converted into common units on a one-for-one basis.
- [F2]Each phantom unit is the economic equivalent of one common unit ("Common Unit") representing a limited partner interest in CrossAmerica Partners LP, (the "Issuer"). The reporting person acquired Common Units upon vesting of the phantom units.
- [F3]Phantom units vested on November 19, 2019 and were converted into Common Units at the discretion of the Issuer.