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Global Partners LP (GLP) Q2-25 10-Q highlights:

• Sales up 4.9% YoY to $4.63 bn; six-month sales up 7.8% to $9.22 bn.
• Gross profit fell 5.4% to $272 m and operating income declined 28% to $60 m as opex and SG&A outpaced revenue.
• Net income dropped 45% to $25 m ($0.55/unit) versus $46 m ($1.11) last year; common unitholder income down 50% to $19 m. YTD net income rose 8% to $44 m, EPS to $0.92 (vs $0.74).
• Operating cash flow swung to +$165 m from -$158 m, driven by inventory and receivable reductions.
• Balance sheet: cash $16 m (vs $8 m YE-24); inventories $496 m (-$98 m YTD); total debt $1.56 bn (senior notes $1.27 bn) against partners鈥� equity $686 m.
• Capital events: issued $450 m 7.125% notes due 2033, used proceeds to tender/ redeem $360 m of 7.00% 2027 notes and repay revolver, booking a $2.8 m extinguishment loss; remaining $39.7 m of 2027 notes redeemed 1 Aug 25.
• Credit Agreement 11th amendment: maturity extended to Mar-2028; working-capital revolver raised to $1.0 bn, corporate revolver cut to $500 m. Liquidity available: $1.13 bn.
• Product mix: gasoline 70% of Q2 sales; GDSO generated 68% of product margin, Wholesale 30%, Commercial 2%.

Operations remain highly seasonal; no customer exceeds 10% of sales.

Global Partners LP (NYSE: GLP) filed a Form 8-K (Item 7.01) to disclose a routine preferred-unit distribution. The Board of its general partner declared a quarterly cash distribution of $0.59375 per Series B preferred unit, equivalent to $2.375 annually, covering the period 15 May 2025 鈥� 14 Aug 2025. The distribution will be paid on 15 Aug 2025 to Series B preferred unitholders of record at the opening of business on 1 Aug 2025. No other operational, financial or strategic developments were reported. The information is furnished, not filed, under Regulation FD and is accompanied by the press release (Exhibit 99.1).

Global Partners (NYSE:GLP) filed a Form 4 reporting that Chief Operating Officer Mark Romaine sold a total of 9,000 common units on 06/24鈥�06/25/2025 under a pre-arranged Rule 10b5-1 plan.

The transactions comprised 6,659 units at a weighted-average $54.26 (range $54.00-$54.83) and 2,341 units at $51.53 (range $51.35-$51.82), generating roughly $0.48 million in proceeds.

Romaine鈥檚 beneficial ownership declined from 166,531 to 157,531 units, a 5.4% reduction. No derivative trades were reported.

While the plan mitigates timing concerns, a C-suite sale of this size can influence investor sentiment.

Global Partners LP insider Mark Romaine has filed Form 144 indicating a proposed sale of 36,000 common shares with an aggregate market value of $1,953,212.40. The shares are to be sold through Raymond James & Associates on the NYSE, with an approximate sale date of June 24, 2025.

The securities to be sold were acquired through multiple phantom grant transactions in 2025:

• 12,686 shares on March 4, 2025
• 5,765 shares on March 27, 2025
• 11,479 shares on May 6, 2025
• 6,070 shares on January 17, 2025

The filing also discloses that Romaine previously sold 12,800 shares on March 25, 2025, for gross proceeds of $677,305. The total shares outstanding are 33,995,563. All shares were acquired as compensation through phantom grants from the issuer.