Kelso Thomas E 4

4 · CrossAmerica Partners LP · Filed Jul 21, 2026

AI-generated summary of this filing

Updated Jul 21, 2026

CrossAmerica Partners (CAPL) Director Thomas E. Kelso Receives Award

What Happened

Thomas E. Kelso, a director of CrossAmerica Partners L.P. (CAPL), received a grant of 3,040 phantom units (reported as a derivative award) on 2026-07-21. The Form 4 reports an acquisition price of $0.00 per unit (total $0 as listed), reflecting a compensation award rather than a market purchase.

Key Details

Transaction date and filing: 2026-07-21 (filing accession 0001538849-26-000035) — transaction and report date match (timely).
Grant type/code: Award/Grant (derivative) — reported as "A" on the Form 4.
Quantity and price: 3,040 phantom units @ $0.00 (derivative units; total listed value $0).
Shares owned after transaction: Not specified in the provided filing details.
Footnotes:
- F1: Each phantom unit equals the economic equivalent of one common unit and carries distribution equivalent rights (cash payments equal to distributions on common units).
- F2: Phantom units vest in one annual installment on the grant anniversary if the director remains in continuous service; upon vesting they will be converted into either cash or common units at the issuer’s discretion.

Context

These are compensation awards to a director (routine non-market transactions) and should not be interpreted as an open‑market buy or sell. Because the units are phantom/derivative and subject to vesting and conversion rules, their economic impact depends on future vesting and the issuer’s decision to settle in cash or common units.

Form 4

Period: 2026-07-21

Director

Transactions

Award
Phantom Units
[F1][F2]
2026-07-21+3,040→ 12,184 total
→ Common Units (3,040 underlying)

Footnotes (2)

[F1]Each phantom unit is the economic equivalent of one common unit ("Common Unit") representing a limited partner interest in CrossAmerica Partners L.P. and is accompanied by tandem distribution equivalent rights that entitle the holder to cash payments equal to the amount of distributions authorized to be paid to the holders of Common Units.
[F2]The phantom units will vest in one annual installment on the anniversary of the grant date, provided the reporting person was in continuous service as a director to the Issuer as of the vesting date, and when vested will be converted into either cash or common units, at the discretion of the Isser.

Signature

Christina Casey-Best as attorney-in-fact for Thomas E. Kelso|2026-07-21

1 file