NICOL LOUIS V 4

What Happened

• Louis V. Nicol, Senior Vice President & Chief Accounting Officer of Genesis Energy (GEL), received a grant of 7,692 phantom units (derivative award) on April 14, 2026. The grant is labeled as an Award/Grant (Form 4 code A) and is cash‑settled — there is no per‑unit price reported. The phantom units will be paid in cash based on the closing price of GEL common units on the vesting date.

Key Details

• Transaction date: 2026-04-14 (reported on Form 4 filed 2026-05-13).
• Award size: 7,692 phantom units; no per‑unit price (cash‑settled; price = N/A on filing).
• Vesting: Units vest in full on April 14, 2029 (third anniversary), subject to continued employment and certain earlier‑vesting events (see footnote).
• Distribution rights: Award includes tandem distribution‑equivalent rights to receive cash equal to quarterly distributions on an equivalent number of unvested units (paid concurrently with regular distributions).
• Shares owned after transaction: Not disclosed in the filing.
• Filing timeliness: The Form 4 was filed 29 days after the transaction date (filed 2026-05-13 for an April 14 transaction), which is later than the standard 2‑business‑day reporting requirement for insider trades.

Context

• Phantom units are a form of cash‑settled compensation that do not transfer actual equity immediately; payout (if any) depends on the LP unit price at vesting and the distribution equivalents paid while unvested. This award increases the executive’s prospective cash exposure to the issuer’s unit price but does not represent an immediate open‑market purchase or sale.