Business Context and Reporting Period
Company: Global Partners LP (NYSE: GLP)
Filing Type: Form 8-K (Current Report)
Date of Report: June 29, 2026
Event: Notice of full redemption of Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units (GLP pr B).
Key Financial Metrics
This filing does not report operational financial metrics such as revenue, profit, cash flow, margins, or total debt. The filing focuses exclusively on the terms of a specific capital structure event:
- Security Redeemed: Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units (CUSIP: 37946R307).
- Redemption Price: $25.00 per unit plus all unpaid and accrued distributions to, but excluding, the Redemption Date.
- Payment Method: Cash, less applicable tax withholding.
- Redemption Date: July 30, 2026.
Material Changes
The primary material change is the elimination of the Series B Preferred Units from the company's capital structure. Upon the Redemption Date:
- All issued and outstanding Series B Preferred Units will be redeemed.
- Trading of these units on the New York Stock Exchange will cease prior to market open on July 30, 2026.
- All rights of holders will terminate, except for the right to receive the Redemption Price.
Guidance, Outlook, and Risks
Management Commentary: The Partnership intends to redeem all outstanding Series B Preferred Units. Equiniti Trust Company, LLC is acting as the redemption agent.
Risks and Contingencies: The filing contains forward-looking statements regarding the Redemption and the amounts to be used. Management notes that actual results may vary materially from expectations due to risks, uncertainties, and assumptions beyond the Partnership's control. No assurance is given that expectations will prove correct.
Investor Verification Checklist
- Confirm the exact number of Series B Preferred Units held to calculate total redemption proceeds.
- Verify the calculation of accrued distributions up to, but excluding, July 30, 2026.
- Ensure the account is registered with The Depository Trust Company (DTC) or its nominee to facilitate the book-entry redemption.
- Monitor the cessation of trading for GLP pr B prior to the July 30, 2026 market open.