SEC Form 4 · accession 0001615619-19-000012
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 30, 2019
Accepted (ET)
Feb 14, 2019 · 4:47 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 Units | Jan 30, 2019 | G | 1,875 | $0.00 | D | 1,875 | D | |
| Common Units | Jan 30, 2019 | G | 1,875 | $0.00 | A | 1,875 | I | By Spouse |
| Common UnitsF2 | Jan 30, 2019 | J | 5,568 | $23.29 | A | 7,443 | D | |
| Common UnitsF2 | Jan 30, 2019 | J | 5,570 | $23.29 | A | 7,445 | I | By Spouse |
| Common UnitsF2 | holding | — | — | — | 4,448 | I | By GRAT | |
| Common UnitsF2 | holding | — | — | — | 4,447 | I | By Spouse's GRAT |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On January 30, 2019, the reporting person and his spouse received 5,568 and 5,570 common units of PAA, respectively, in a distribution from their respective grantor retained annuity trusts in accordance with the terms of the GRATs. The distribution 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 distribution 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 and their respective GRATs, including the units received from the GRATs as described in footnote 1, were subsequently contributed to newly-created GRATs and are now beneficially owned indirectly as follows: 11,891 units are beneficially owned indirectly through the reporting person's 2019 GRAT, and 11,892 units are beneficially owned indirectly through the 2019 GRAT of the reporting person's spouse. The contributions of units to the 2019 GRATs are also exempt under Rule 16a-13 of the Exchange Act.