Form 8-K GLOBAL PARTNERS LP For: Dec 20
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
report (Date of earliest event reported): December 20, 2017
GLOBAL
PARTNERS LP
(Exact
name of registrant as specified in its charter)
Delaware |
001-32593 |
74-3140887 |
(State or other jurisdiction |
(Commission |
(IRS Employer |
P.O. Box 9161 |
(Address of Principal Executive Offices) |
(781) 894-8800
(Registrant’s telephone number, including area
code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ⃞
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ⃞
Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On December 20, 2017, Charles A. Rudinsky, Executive Vice President and Chief Accounting Officer of Global GP LLC (the “General Partner”), the general partner of Global Partners LP (the “Partnership”), notified the General Partner that Mr. Rudinsky will resign as the General Partner’s Executive Vice President and Chief Accounting Officer effective December 31, 2017. He will continue to be employed as a Senior Advisor to the Chief Financial Officer for calendar years 2018 and 2019 on terms to be negotiated.
Effective January 1, 2018, Mr. Matthew Spencer, age 38, will commence serving as the Chief Accounting Officer of the General Partner. Mr. Spencer was appointed to serve as the Chief Accounting Officer by the Board of Directors of the General Partner on December 21, 2017. He has been serving as Controller of the General Partner since September 24, 2012. Mr. Spencer joined the Partnership from SharkNinja Operating LLC (formerly Euro-Pro Operating LLC), where he served as Assistant Controller. Prior to that he was a Senior Manager at Ernst & Young. The terms of any plan, contract or arrangement with, or any grant or award to, Mr. Spencer in connection with his appointment have not yet been determined.
Item 7.01. |
Regulation FD Disclosure |
The information set forth under Item 5.02 of this Current Report on Form 8-K is hereby incorporated in Item 7.01 by reference.
The information furnished pursuant to Item 7.01 in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, unless the Partnership specifically states that the information is to be considered “filed” under the Exchange Act or incorporates it by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act.
A copy of the Partnership’s press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. |
Financial Statements and Exhibits |
(d) |
Exhibit |
|
99.1 | Global Partners LP Press Release dated December 22, 2017 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
GLOBAL PARTNERS LP |
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By: |
Global GP LLC, |
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its general partner |
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Dated: |
December 22, 2017 |
|
By: |
/s/ Edward J. Faneuil |
|
|
|
Executive Vice President, |
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General Counsel and Secretary |
EXHIBIT INDEX
Exhibit |
Description |
|
Exhibit 99.1
Global Partners Promotes Matthew Spencer to Chief Accounting Officer
WALTHAM, Mass.--(BUSINESS WIRE)--December 22, 2017--Global Partners LP (NYSE: GLP) today announced the promotion of Matthew Spencer to Chief Accounting Officer, effective January 1, 2018. He will report to Daphne H. Foster, Chief Financial Officer.
Spencer, the Partnership’s Controller since 2012, assumes the chief accounting officer responsibilities from Charles A. “Chuck” Rudinsky, who announced his retirement as CAO and Executive Vice President after more than 30 years with the organization. Rudinsky will thereafter serve as a senior advisor to the Chief Financial Officer through 2019.
“Matt is a highly valued member of Global’s finance team and we believe his background and practical experience will make him an outstanding addition to the executive leadership group,” said Eric Slifka, President and Chief Executive Officer. “At the same time, we acknowledge Chuck’s immeasurable contributions to Global. Chuck started with us when we were a private company and played a key role in bringing Global public. During his tenure, he was instrumental in managing the accounting aspects of our growth and expansion. We wish him well as he steps away from full-time responsibilities as CAO.”
Spencer joined Global Partners from SharkNinja Operating LLC (formerly Euro-Pro Operating LLC), where he served as Assistant Controller. Prior to that he was a Senior Manager at Ernst & Young. Spencer has a degree in Accounting & Information Systems from Boston College.
About Global Partners LP
Global Partners is a midstream
logistics and marketing master limited partnership that owns, controls
or has access to one of the largest terminal networks of petroleum
products and renewable fuels in the Northeast. With approximately 1,500
locations, primarily in the Northeast, Global is one of the largest
regional independent owners, suppliers and operators of gasoline
stations and convenience stores. Global is also one of the largest
distributors of gasoline, distillates, residual oil and renewable fuels
to wholesalers, retailers and commercial customers in New
England and New York. The Partnership is also engaged in the
transportation of petroleum products and renewable fuels by rail from
the mid-continental U.S. and Canada. For additional information, visit www.globalp.com.
Forward-looking Statements
Certain statements and information
in this press release may constitute “forward-looking statements.” The
words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,”
“should,” “would,” “could” or other similar expressions are intended to
identify forward-looking statements, which are generally not historical
in nature. These forward-looking statements are based on Global
Partners’ current expectations and beliefs concerning future
developments and their potential effect on the Partnership. While
management believes that these forward-looking statements are reasonable
as and when made, there can be no assurance that future developments
affecting the Partnership will be those that it anticipates.
Forward-looking statements involve significant risks and uncertainties
(some of which are beyond the Partnership’s control) and assumptions
that could cause actual results to differ materially from the
Partnership’s historical experience and present expectations or
projections.
For additional information regarding known material factors that could cause actual results to differ from the Partnership’s projected results, please see Global Partners’ filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
CONTACT:
Global Partners LP
Daphne H. Foster, 781-894-8800
Chief
Financial Officer
or
Edward J. Faneuil, 781-894-8800
Executive
Vice President, General Counsel and Secretary