Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 210

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 210
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 distribution equivalent rights on unvested units.

106 

(4)As part of the compensation to non-employee directors for the period June 28, 2024 to June 27, 2025, each of Messrs. Gannon, Kelso, Kim, Reilly, Topper and Valosky received an equity grant of 3,419 phantom units of the Partnership based upon a fair market value of $19.56 per unit, which was the NYSE closing price of our common units on July 22, 2024. These phantom unit awards were accompanied by tandem distribution equivalent rights that entitled the holder to cash payments equal to the amount of unit distributions authorized to be paid to the holders of Partnership common units. There are no other outstanding equity awards.

(5)Messrs. Kim and Gannon received additional cash compensation of $10,000 per year for their service as chairman of the conflicts committee and audit committee, respectively.

Compensation Committee Interlocks and Insider Participation

None of the directors or executive officers of our General Partner served as members of the compensation committee of another entity that has or had an executive officer who served as a member of our Board during 2024. We do not have a separate compensation committee. Decisions regarding the compensation of our NEOs for 2024 were made, as applicable, by the Topper Group as the owner of our General Partner.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED UNITHOLDER MATTERS

As of February 21, 2025, the following table sets forth the beneficial ownership of our common units of:

•Each person known by us to be a beneficial owner of more than 5% of our outstanding common units; 

•Each NEO and director of the Board; and 

•All of the executive officers and directors of the Board, as a group.

    Beneficial Ownership of Common Units

    Number of

    Percent of

    Name of Beneficial Owner
     
    Units

    Class

    Greater than 5% Stockholders**

    Patricia Dunne Topper Trust

    12,696,270
     
    (1)

    33.4
    %

    Dunne Manning Inc.

    3,782,216
     
    (2)

    9.9
    %

    DM Partners Management Co LLC

    5,982,871
     
    (3)

    15.7