Reilly John B. III 4

What Happened

• John B. Reilly III, a reported 10% owner of CrossAmerica Partners LP (CAPL), acquired 3,154 common units on July 23, 2026 via conversion/exercise of derivative awards (transaction code M). The filing lists the price as N/A; the units were issued upon vesting of phantom units rather than an open‑market purchase or sale. A second derivative line shows 0 shares.
• This was a receipt of compensation/vested units (not a sale). The filing was submitted on July 24, 2026 and reports the July 23, 2026 vesting/conversion.

Key Details

• Transaction date: July 23, 2026; Form 4 filed July 24, 2026 (timely).
• Transaction type/code: M = exercise or conversion of derivative; reported as "Acquired."
• Shares acquired: 3,154 common units; price: N/A (issued upon vesting).
• Shares owned after transaction: not disclosed in the provided filing.
• Footnotes: (F1) Each phantom unit equaled one common unit and converted into common units upon vesting. (F2) Phantom units vested on July 23, 2026 and were converted into common units at the issuer’s discretion.
• Filing accession: 0001538849-26-000057 (Period of Report: 2026-07-23).

Context

• These were vested/converted phantom units — a common form of equity compensation — meaning Reilly received units rather than buying them in the market. There’s no indication the shares were immediately sold.
• As a 10% owner, this filing reports ownership-level activity (not necessarily an executive open‑market trade). For investors, acquisitions via vesting can indicate compensation realization rather than a directional bet on the stock.