Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 38

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 13
Chunk 38
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As of February 21, 2025, the Topper Group beneficially owned or controlled 38.6% of the Partnership’s common units.

As of February 21, 2025, John B. Reilly, III owned or controlled 13.1% of the Partnership’s common units.

The following is a description of related party transactions since January 1, 2024 to which the Partnership was or is a party, in which the amount involved exceeds $120,000 and in which a director, executive officer, holder of more than 5% of our common units or any member of their immediate family had or will have a direct or indirect material interest, other than the arrangements that are described under “Item 11-Potential Payments Upon Termination or Change in Control.” The terms of the transactions and agreements disclosed in this section were determined by and among related parties and, consequently, are not the result of arm’s length negotiations. Such terms are not necessarily at least as favorable to the parties to these transactions and agreements as the terms that could have been obtained from unrelated third parties.

Distributions and Payments to our General Partner and Certain Related Parties

The following table summarizes the distributions and payments to be made by us to our General Partner and certain related parties in connection with the ongoing operation of our business and distributions and payments that would be made by us if we were to liquidate in accordance with the terms of our Partnership Agreement.

Operational Stage

    Distributions
     
    We will generally make cash distributions to the unitholders, including the Topper Group and Mr. Reilly and their respective affiliates.Assuming we have sufficient cash available for distribution to pay the full minimum quarterly distribution on all of our outstanding units for four quarters, the Topper Group and Mr. Reilly and their respective affiliates would receive an annual distribution of $34.4 million, collectively, on their common units.Cash distributions to the Topper Group and Mr. Reilly and their respective affiliates amounted to $41.3 million in 2024.

109 

    Payments to our General Partnerand its affiliates
     
    The Topper Group and CrossAmerica have the right to negotiate the amount of the management fee on an annual basis, or more often as circumstances require.  The Partnership incurred $125.2 million in management fees under the Omnibus Agreement for 2024.

    Liquidation Stage

    Liquidation
     
    Upon our liquidation, the partners, including our General Partner, is entitled to receive liquidating distributions according