Global Partners LP (NYSE: GLP) announced it will redeem all 3,000,000 of its Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units on July 30, 2026, according to a press release from the company.

The total redemption value is $75,000,000. Unit holders will receive $25.00 per unit, plus any unpaid and accrued distributions up to, but excluding, the redemption date, less applicable tax withholding. Payment will be made in cash on the redemption date.

The Series B Preferred Units, which trade on the New York Stock Exchange under the symbol "GLP pr B," will cease trading on the NYSE prior to market open on July 30, 2026. After the redemption, the units will no longer be outstanding and holder rights will terminate, except the right to receive the redemption price.

Notices of redemption are being distributed to holders of record as of June 29, 2026. Equiniti Trust Company, LLC is serving as the redemption agent.

Global Partners is a master limited partnership based in Waltham, Massachusetts, that operates liquid energy terminals and retail fueling locations across the eastern United States.