Kelso Thomas E 4

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.