GLOBAL PARTNERS LP — Director's Dealing 2016

Jan 6, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GLOBAL PARTNERS LP (GLP)
CIK: 0001323468
Period of Report: 2015-12-31

Reporting Person: WATCHMAKER KENNETH I (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-12-31	Common units representing limited partner interests	M	2715	$17.57	Acquired	19511	Direct
2016-01-02	Common units representing limited partner interests	M	3553	$17.57	Acquired	23064	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-12-31	Phantom units representing limited partner interests	$0	M	2715	Disposed	2016-12-31	Common units representing limited partner interests (2715)	Direct
2016-01-02	Phantom units representing limited partner interests	$0	M	3553	Disposed	2018-01-02	Common units representing limited partner interests (3553)	Direct

Footnotes

F1: Closing market price on December 31, 2015.

F2: Phantom units representing limited partner interests in Global Partners LP ("Phantom Units") convert into common units representing limited partner interests in Global Partners LP ("Common Units").

F3: Each Phantom Unit is the economic equivalent of one Common Unit.

F4: Pursuant to a Grant Agreement dated June 27, 2013, the Reporting Person was granted 8,145 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units vest as follows: 33 1/3% each on December 31, 2014, December 31, 2015 and December 31, 2016.

F5: Pursuant to a Grant Agreement dated April 20, 2015, the Reporting Person was granted 10,659 Phantom Units. Upon satisfying the vesting conditions set forth in said Grant Agreement, the Phantom Units vest as follows: 33 1/3% each on January 2, 2016, January 2, 2017 and January 2, 2018.