Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 170

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 170
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 committee thereof.The Board may terminate or amend the 2022 Plan at any time with respect to any common units for which a grant has not yet been made. The Board also has the right to alter or amend the 2022 Plan or any part of the 2022 Plan from time to time, including increasing the number of common units that may be granted, subject to unitholder approval as required by the exchange upon which common units are listed at that time; however, no change in any outstanding grant may be made that would adversely affect the rights of a participant with respect to awards granted to a participant prior to the effective date of such amendment or termination, except that the Board may amend any award to satisfy the requirements of Section 409A of the Internal Revenue Code. The 2022 Plan expires on the tenth anniversary of its approval, when common units are no longer available under the 2022 Plan for grants or upon its termination by the Board, whichever occurs first.

79 

CROSSAMERICA PARTNERS LPNOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

The table below summarizes our equity-based award activity:

        Employees

        Directors

        Employees

        Phantom

        Performance

        Awards

        Phantom Units

        Phantom Units

        Initial Target Value

        Nonvested at December 31, 2022

        85,554

        15,205

        $
        2,330

        Granted

        40,594

        20,470

        966

        Forfeited

        (2,779
        )

        —

        —

        Vested

        (19,816
        )

        (16,181
        )

        —

        Nonvested at December 31, 2023

        103,553

        19,494

        3,296

        Granted

        33,061

        20,514

        853

        Forfeited

        —

        —

        —

        Vested

        (18,317
        )

        (19,494
        )

        (711
        )

        Nonvested at December 31, 2024

        118,297

        20,514

        $
        3,438

       Phantom UnitsIn July 2024, the Partnership granted 3,419 phantom units to each of six non-employee directors of the Board. Such awards will vest in July