CrossAmerica (CAPL) 10% Owner Joseph V. Topper Receives Award

What Happened
Joseph V. Topper Jr., a reported 10% owner of CrossAmerica Partners L.P. (CAPL), received a grant of 3,040 phantom units on 2026-07-21. The units were granted at $0.00 (derivative award) and have no immediate cash value; they are the economic equivalent of common units and include distribution-equivalent rights (see footnotes). The award will vest in one annual installment on the first anniversary of the grant, provided the reporting person remains in continuous service as a director, and when vested the units will be converted into either cash or common units at the issuer’s discretion.

Key Details

• Transaction date and type: 2026-07-21 — Award/Grant (code A) of 3,040 phantom units at $0.00 (derivative).
• Reported value at grant: $0 (phantom/derivative award; economic value tied to underlying common units).
• Shares/units owned after transaction: Not disclosed in the filing.
• Footnotes: F1 — each phantom unit equals one common unit economically and carries distribution-equivalent rights; F2 — vesting in one year if continuous director service, then convertible to cash or common units per issuer discretion.
• Filing timeliness: Reported on 2026-07-21 (no late filing indicated).

Context
This was a derivative award (phantom units), not a purchase or sale of open-market shares. Such grants are typically compensation or retention awards tied to service (here, contingent on continued service as a director) and do not by themselves signal a market buy or sell. As a reported 10% owner and director, this transaction reflects a compensation/ownership mechanism rather than a routine open-market trade.