SEC Form 4 · accession 0001615619-18-000006
PLAINS ALL AMERICAN PIPELINE LP · PAA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bobby S Shackouls
Director
Period of report
Jan 2, 2018
Accepted (ET)
Feb 1, 2018 · 5:17 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001070423
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF2 | Jan 2, 2018 | J | 9,079 | $20.64 | A | 10,016 | D | |
| Common UnitsF2 | Jan 2, 2018 | J | 9,079 | $20.64 | A | 10,017 | I | By Spouse |
| Common Units | holding | — | — | — | 0 | I | By GRAT | |
| Common Units | holding | — | — | — | 0 | I | By Spouse's GRAT |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On January 2, 2018, the reporting person and his spouse each withdrew 9,079 common units of PAA from their respective grantor retained annuity trusts in exchange for the contribution of cash and bonds having equivalent value. The withdrawal of units from the GRATs resulted in a decrease in the number of units beneficially owned indirectly through the GRATS, and a corresponding increase in the number of units beneficially owned directly and indirectly through spouse. The reporting person believes that the withdrawal of units from the GRATs constitutes a change in form of beneficial ownership, which is exempt under Rule 16a-13 of the Exchange Act.
- F2All units owned by the reporting person and his spouse, including the withdrawn units, were subsequently contributed to newly-created GRATs and are now beneficially owned indirectly as follows: 10,016 units are beneficially owned indirectly through the reporting person's 2018 GRAT, and 10,017 units are beneficially owned indirectly through the 2018 GRAT of the reporting person's spouse. The contributions of units to the 2018 GRATs are also exempt under Rule 16a-13 of the Exchange Act.