Gaspard Garland G 4

What Happened Gaspard Garland, Senior Vice President of Genesis Energy LP (GEL), received an award of 33,508 phantom units (derivative award) on April 14, 2026 (transaction code A). The grant is cash‑settled — each phantom unit equals the economic value of one common unit and will be paid in cash based on the closing price of GEL common units on the vesting date. No per‑unit price or immediate cash value was reported in the Form 4.

Key Details

• Transaction date: April 14, 2026 (Form 4 filed May 13, 2026 — filed 29 days after the grant).
• Transaction type/code: Award/Grant (A); derivative, cash‑settled phantom units.
• Units granted: 33,508 phantom units.
• Vesting: Will vest fully on April 14, 2029 (third anniversary), provided employment continues; may vest earlier under certain specified events (per award agreement).
• Distribution rights: Award includes tandem distribution‑equivalent rights — cash payments equal to quarterly per‑unit distributions while units remain unvested.
• Price/value: Not reported (N/A) for the grant; cash value realized at vesting based on closing price then.
• Shares/units owned after transaction: Not reported in the filing.
• Filing timeliness: Late filing (Form 4 submitted May 13 for an Apr 14 grant).

Context Phantom units are a common cash‑settled long‑term compensation vehicle that grant economic exposure to the stock without issuing actual common units. Because the award is cash‑settled and vests over three years, it is a compensation event rather than an immediate buy or sell; it does not directly change outstanding unit count. The late filing is a reporting issue to note but does not change the nature of the grant.