SEC Form 4 · accession 0001615619-18-000014
PLAINS ALL AMERICAN PIPELINE LP · PAA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel J Nerbonne
Officer — EVP - Operations & Engineering
Period of report
Mar 22, 2018
Accepted (ET)
Mar 26, 2018 · 6:27 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1,F2,F3 | — | Mar 22, 2018 | A | 25,000 | A | — | — | common units | 25,000 | 25,000 | D |
Explanation of responses
- F1Grant of phantom units under Long-Term Incentive Plan (includes associated distribution equivalent rights (payable in cash)).
- F2One common unit is deliverable, upon vesting, for each phantom unit that vests.
- F3The phantom units will vest on the May 2021 distribution date; provided, however, that 50% of the phantom units may vest prior to that date if and when PAA generates distributable cash flow of $2.30 per unit on a trailing four quarter basis.