GLOBAL PARTNERS LP — Director's Dealing 2017

Jan 5, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GLOBAL PARTNERS LP (GLP)
CIK: 0001323468
Period of Report: 2016-12-31

Reporting Person: MCKOWN DAVID K (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-12-31	Common units representing limited partner interests	M	2715	$19.45	Acquired	10572	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-12-31	Phantom units representing limited partner interests	$0	M	2715	Disposed	2016-12-31	Common units representing limited partner interests (2715)	Direct
2017-01-02	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 30, 2016.

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 September 18, 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 and shall be paid in cash payments equal to the Fair Market Value of one Common Unit on the day immediately preceding the payment date for each Phantom Unit that is to be settled.