Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 206

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 206
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 25, 2021, that vested on December 31, 2024 for Messrs. Nifong, Lynch and Brecker and Ms. Topper. 

(3)Represents the number of common units to be issued on or before February 25, 2025, based on the 20-day volume weighted average price through February 21, 2025, in respect of the PBUA awards granted by the Partnership on October 25, 2021 that vested on December 31, 2024.

(4)Represents one third of the TBUA phantom unit awards granted by the Partnership on October 23, 2023, and one third of the TBUA phantom unit awards granted by the Partnership on March 6, 2023, which represents a sign-on bonus award. 

104 

Potential Payments upon Termination or Change in Control

Our executive officers may be entitled to certain payments upon termination of their employment under certain circumstances, in each case, as more fully described below. Any such payments that are to be made in cash will be subject to reimbursement under the Omnibus Agreement.

Lehigh Gas Partners LP 2012 Incentive Award Plan

Under the Lehigh Gas Partners LP 2012 Incentive Award Plan and the award agreements, in the event an NEO’s employment is terminated for any reason, all outstanding TBUAs and PBUAs will be forfeited without payment, except that upon an NEO’s death, disability or retirement with Board approval, the TBUAs will vest in full, and the PBUAs will be determined in accordance with its terms, subject to adjustments as the Board may make in its reasonable discretion. Upon a change in control of the Partnership, the Board in its sole discretion may determine the treatment. If, upon death, disability or retirement with Board approval of any of Messrs. Nifong, Lynch and Brecker and Ms. Topper as of December 31, 2024, their TBUAs will vest in full in the amounts of $320,474, $129,514, $67,188 and $48,378, respectively. As Mr. Lattig was hired in 2023, he did not receive any awards under the Lehigh Gas Partners LP 2012 Incentive Award Plan. 

CrossAmerica Partners LP 2022 Incentive Award Plan

Under the CrossAmerica Partners LP 2022 Incentive Award Plan and the award agreements, in the event