SEC Form 4 · accession 0001070423-26-000048
PLAINS ALL AMERICAN PIPELINE LP · PAA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John T Raymond
Director
Period of report
Sep 14, 2026
Accepted (ET)
Sep 16, 2026 · 4:11 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001070423
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A Convertible Preferred UnitsF3,F1 | — | Sep 14, 2026 | D | 20,376,259 | D | — | Sep 14, 2026 | Common Units | 20,376,259 | 0 | I |
Explanation of responses
- F1Prior to their redemption by the Issuer on September 14, 2026, the Series A Convertible Preferred Units (the "Preferred Units") were convertible on a one-for-one basis by the holders of such Preferred Units or by the Issuer.
- F2In accordance with the terms of the Seventh Amended and Restated Agreement of Limited Partnership of the Issuer, dated as of October 10, 2017, the reported securities were redeemed by the Issuer on September 14, 2026 at a price equal to 110% of their face value of $26.25 ($28.875) per Preferred Unit, plus accrued and unpaid distributions to, but not including, the redemption date.
- F3Prior to their redemption by the Issuer on September 14, 2026, the Series A Convertible Preferred Units were held by EMG Fund IV PAA Holdings, LLC ("EMG"). The Reporting Person is the sole member of EMG Fund IV Management, LLC, the general partner of EMG Fund IV Management, LP, which is the manager of EMG, and therefore he may be deemed to be the beneficial owner of the interests held by EMG.