Federer Michael W 4
4 · CrossAmerica Partners LP · Filed Nov 21, 2019
Insider Transaction Report
Form 4
Federer Michael W
Sr Director Legal and Corp Sec
Transactions
- Exercise/Conversion
Phantom Performance Units
2019-11-19−1,564→ 0 totalFrom: 2022-07-18→ Common Units (1,564 underlying) - Exercise/Conversion
Common Units
2019-11-19+1,564→ 1,564 total
Footnotes (3)
- [F1]On November 19, 2019 CST Brands, LLC ("Seller"), CST GP, LLC, CST Brands Holdings, LLC, certain subsidiaries of Seller (collectively, the "Seller Group"), Lehigh Gas GP Holdings LLC (the "GP Buyer"), Dunne Manning CAP Holdings II LLC (the "IDR Buyer"), and Dunne Manning Cap Holdings I LLC (the "LP Buyer" and collectively with the GP Buyer and the IDR Buyer, the "Buyers") entered into a Securities Purchase Agreement (the "SPA"). At the discretion of the Issuer and contingent upon the execution of and under the terms of the SPA, each award of unvested Phantom units outstanding immediately prior to the effective time of the SPA became fully vested and was converted into common units on a one-for-one basis.
- [F2]Each Performance Unit represents a contingent right to receive one unit of the Issuer's Common Units.
- [F3]Prior to becoming a filer, on November 12, 2018 the reporting person was granted 754 Performance Units that vest three years from the grant date. On July 8, 2019, the reporting person was granted 810 Performance Units that vest three years from the grant date. See Note 1 regarding the conversion of the outstanding Performance Units.