CrossAmerica Partners LP 4
4 · CrossAmerica Partners LP · Filed Mar 16, 2016
Insider Transaction Report
Form 4
Hrinak David
Executive Vice President
Transactions
- Exercise/Conversion
Profits Interests
2016-03-15−3,179→ 0 totalExercise: $0.00→ Common Units (3,179 underlying) - Exercise/Conversion
Common Units
2016-03-15+3,179→ 37,466 total
Footnotes (3)
- [F1]The Reporting Person acquired the reported securities as a result of the redemption by the Issuer of certain class B units ("Class B Units") in LGP Operations LLC ("LGP Operations"), a wholly owned subsidiary of the Issuer, owned by the Reporting Person. Each Class B Unit represents a profit interest in LGP Operations (the "Profit Interests"). The vested Profits Interests owned by the Reporting Person became eligible for redemption on March 15, 2016, pursuant to the award agreement related to the Profit Interests.
- [F2]As provided in the Amended and Restated Operating Agreement of LGP Operations LLC, dated March 4, 2014, as amended, prior to redemption, the Issuer elected to redeem the vested Profits Interests in exchange for common units of the Issuer on a one-to-one basis.
- [F3]The Profits Interests were issued to the Reporting Person under the Lehigh Gas Partners 2012 Long Term Incentive Plan on March 14, 2014 and vested in full on October 1, 2014.