Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 14

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 11
Chunk 14
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 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 also vary depending on the achievement of special measurable objectives that are key to the financial success of the company
    Align long-term interests of executives with those of the Partnership and its unitholders

Base Salary

The human resources department of the Topper Group approved the following annualized base salaries for the 2024 fiscal year:

    Name
     
    2024 AnnualBase Salary($) (1)

    Charles M. Nifong, Jr.

    500,000

    Maura Topper

    325,000

    Keenan D. Lynch

    325,000

    Robert Brecker

    325,000

    Stephen J. Lattig

    325,000

(1)The amount shown represents annualized base salary, not the portion allocated to the Partnership.

The Summary Compensation Table reflects the portion of the annualized base salary allocated to the Partnership.

Short-Term Incentive Compensation

Performance-Based Bonus Compensation Policy

The 2024 Performance-Based Bonus Compensation Policy (the “2024 Bonus Plan”) is one of the key components of the “at-risk” compensation. The 2024 Bonus Plan is utilized to reward short-term performance achievements and to motivate and reward executives for their contributions toward meeting financial and strategic goals.

For the NEOs, the Topper Group determined to include, as part of their compensation, the 2024 Bonus Plan for the fiscal year ending on December 31, 2024. As approved by the Board on February 22, 2024, the 2024 Bonus Plan included financial and operational objectives, each with a specified percentage weighting. For Mr. Nifong, the 2024 Bonus Plan is based on the achievement of 100% of the partnership goals including (i) being financially efficient operators (65%) and (ii) maximizing the operational excellence in wholesale and retail operations to support the long-term health and viability of the partnership’s business (35%). For Ms. Topper, Messrs. Lynch, Brecker and Lattig, the 2024 Bonus Plan is based on the achievement of 70% of the partnership goals noted above and 30% departmental goals.

96 

Under the 2024 Bonus Plan, Mr.