CrossAmerica Partners LP (NYSE:CAPL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Form of Indemnification Agreement. On December 6, 2019, the Board of Directors (“Board”) of CrossAmerica GP LLC, the general partner (“General Partner”) of CrossAmerica Partners LP (the “Partnership”), approved a grant of phantom units under the Lehigh Gas Partners LP 2012 Incentive Award Plan to Kenneth G. Valosky in connection with his appointment as a non-employee director of the Board of the General Partner on November 19, 2019. The award is pro-rata for his service as a director until June 27, 2020 and otherwise at the same terms as the standard non-employee director grant as described in the Partnership’s Annual Report on Form 10-K, Item 11. “Executive Compensation – Director Compensation.”
About CrossAmerica Partners LP (NYSE:CAPL)
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The Company’s sites are located in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire, Maine, Florida, Maryland, Delaware, Tennessee, Virginia, Illinois, Indiana and West Virginia. The Company also distributes motor fuel in Georgia and North Carolina. It distributes motor fuels at approximately 1,100 sites located in over 20 states. In addition, the Company, through One Stop convenience stores network, owns over 40 stores in Charleston, West Virginia. The Company purchases branded and unbranded motor fuel from integrated oil companies, refiners and unbranded fuel suppliers. It owns or leases and operates convenience stores and retains all profits from motor fuel and convenience store operations.
