Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 190

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 190
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 the compensation actually awarded by the Topper Group to the NEOs for their services to the Partnership during 2024 is set out in the accompanying Summary Compensation Table and related compensation tables that follow this Compensation Discussion and Analysis.

Compensation

Objectives and Philosophy

The compensation philosophy of the Topper Group is based on performance and the achievement of predetermined objectives, and it is a reflection of the entrepreneurial culture of the Topper Group, which is a culture where the financial interests of its executives are aligned with the performance of the company and the investors they represent. The compensation strategy includes variable components linked to short term, medium term and long-term performance. The Topper Group compensation plans and programs for executives are designed to: (i) recruit, develop and retain talented executives; (ii) reward exceptional performance as measured by predetermined and quantifiable objectives; (iii) establish a direct relation between the interests of the executives and those of the shareholders of the Topper Group and the unitholders of the Partnership by favoring the creation of value in the short, medium and long term; (iv) encourage teamwork and promote company values; and (v) support the company’s business strategy. The Topper Group’s compensation plans and programs are established based on internal principles of equity that take into consideration the role, nature and level of each of the executives as well as external principles of equity such as fair, equitable and competitive compensation terms in comparison to peers as well as those of the market in general.

Elements of Executive Compensation 

The three main components of the remuneration of the Topper Group’s executive compensation program are base salary, short-term incentive compensation and long-term incentive compensation, as shown in the table below.

95 

    Element
    Description
    Objectives

    Base salary
    Annual base salary is based on the functional responsibilities and competencies of the executives
    Attract, retain and motivate executives

    Short-Term Incentive Compensation 2024 Performance Based Bonus Compensation Policy
    Performance based target bonus compensation policy ranging from 50% to 100% of base salary, which payment is determined by financial and operational objectives
    Motivate executives to achieve objectives with a higher degree of difficulty and thereby achieve or exceed the business plan of the Partnership Create accountability among executives for the achievement of these financial objectives Align the short-term interests of executives with those of the Partnership and its unitholders

    Long-Term Incentive Compensation
    Phantom stock unit plan with grants varying according to position held Performance payouts