Randa Duncan Williams (EPD) awarded 500,000 phantom units vesting in 2030
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Enterprise Products Partners L.P.February 10, 2026, she received a grant of 500,000 phantom units at a price of $0 under transaction code “A,” meaning an award under a compensation plan.
Each phantom unit is the economic equivalent of one EPD common unit and the new award is scheduled to vest on February 16, 2030, settling in an equal number of common units at that time. The filing also lists earlier phantom unit awards totaling 482,000, 535,000, 550,000 and 475,000 units vesting annually from 2026 through 2029. Separate from these awards, large blocks of EPD common units are shown as held indirectly by Enterprise Products Company, EPCO Holdings, Inc., multiple family trusts, and entities affiliated with Ms. Williams’ spouse, with the filing noting that she disclaims beneficial ownership of those holdings beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
21 transactions reported
Mixed
21 txns
Insider
WILLIAMS RANDA DUNCAN, Enterprise Products Co, EPCO Holdings, Inc.
Role
Director, 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Units | 500,000 | $0.00 | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
Holdings After Transaction:
Phantom Units — 500,000 shares (Direct);
Common Units Representing Limited Partnership Interests — 1,125,057 shares (Direct);
Common Units Representing Limited Partnership Interests — 74,754,703 shares (Indirect, By EPCO)
Footnotes (1)
- These common units representing limited partner interests in the issuer ("Common Units") are owned directly by Enterprise Products Company ("EPCO"). Ms. Williams serves as one of three voting trustees who collectively have voting and dispositive power over the outstanding voting stock of EPCO. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by EPCO, except to the extent of her pecuniary interest therein. These Common Units are owned directly by EPCO Holdings, Inc. ("EPCO Holdings"), which is a direct wholly owned subsidiary of EPCO. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by EPCO Holdings, except to the extent of her pecuniary interest therein. These Common Units are owned directly by The Randa Duncan Williams 2018 Family Trust (the "RDW 2018 Family Trust"), for which Ms. Williams serves as a director of an entity trustee. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the RDW 2018 Family Trust, except to the extent of her pecuniary interest therein. These Common Units are owned directly by The Dannine Gale Duncan 2018 Family Trust (the "DGD 2018 Family Trust"), for which Ms. Williams serves as a director of an entity trustee. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the DGD 2018 Family Trust, except to the extent of her pecuniary interest therein. These Common Units are owned directly by The Milane Duncan Frantz 2018 Family Trust (the "MDF 2018 Family Trust"), for which Ms. Williams serves as a director of an entity trustee. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the MDF 2018 Family Trust, except to the extent of her pecuniary interest therein. These Common Units are owned directly by The Randa Duncan Williams 2023 Family Trust (the "RDW 2023 Family Trust"), for which Ms. Williams serves as a director of an entity trustee. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the RDW 2023 Family Trust, except to the extent of her pecuniary interest therein. These Common Units are owned directly by The Dannine Gale Duncan 2023 Family Trust (the "DGD 2023 Family Trust"), for which Ms. Williams serves as a director of an entity trustee. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the DGD 2023 Family Trust, except to the extent of her pecuniary interest therein. These Common Units are owned directly by The Milane Duncan Frantz 2023 Family Trust (the "MDF 2023 Family Trust"), for which Ms. Williams serves as a director of an entity trustee. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the MDF 2023 Family Trust, except to the extent of her pecuniary interest therein. These Common Units are owned directly by The Randa Lynn Duncan 1990 Grantor Trust (the "RLD Grantor Trust"), for which Ms. Williams serves as a director of an entity trustee. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the RLD Grantor Trust, except to the extent of her pecuniary interest therein. These Common Units are owned directly by The Dannine Gale Duncan 1990 Grantor Trust (the "DGD Grantor Trust"), for which Ms. Williams serves as a director of an entity trustee. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the DGD Grantor Trust, except to the extent of her pecuniary interest therein. These Common Units are owned directly by The Milane Diane Duncan 1990 Grantor Trust (the "MDD Grantor Trust"), for which Ms. Williams serves as a director of an entity trustee. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by the MDD Grantor Trust, except to the extent of her pecuniary interest therein. These Common Units are owned directly by Alkek and Williams, Ltd. ("A&W Ltd."), an affiliate of Ms. Williams' spouse. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by A&W Ltd., except to the extent of her pecuniary interest therein. Includes Common Units acquired in the issuer's distribution reinvestment plan. These Common Units are owned directly by Chaswil, Ltd., an affiliate of Ms. Williams' spouse. Ms. Williams disclaims beneficial ownership of the Common Units owned directly by Chaswil, Ltd., except to the extent of her pecuniary interest therein. Includes Common Units acquired in the issuer's distribution reinvestment plan. Each phantom unit is the economic equivalent of one EPD Common Unit. These phantom units vest on February 16, 2026. These phantom units will expire upon vesting and settlement thereof in exchange for an equal number of EPD Common Units. These phantom units vest on February 16, 2027. These phantom units will expire upon vesting and settlement thereof in exchange for an equal number of EPD Common Units. These phantom units vest on February 16, 2028. These phantom units will expire upon vesting and settlement thereof in exchange for an equal number of EPD Common Units. These phantom units vest on February 16, 2029. These phantom units will expire upon vesting and settlement thereof in exchange for an equal number of EPD Common Units. These phantom units vest on February 16, 2030. These phantom units will expire upon vesting and settlement thereof in exchange for an equal number of EPD Common Units. The power of attorney under which this form was signed is on file with the Commission.
FAQ
What insider transaction did EPD report for Randa Duncan Williams?
Enterprise Products Partners reported that Randa Duncan Williams received a grant of 500,000 phantom units on February 10, 2026. The transaction is coded “A,” indicating an award or other acquisition under a compensation plan rather than an open-market purchase or sale.
What are phantom units in the EPD Form 4 for Randa Duncan Williams?
The Form 4 states that each phantom unit is the economic equivalent of one EPD common unit. These awards generally vest on specified future dates and then are settled in an equal number of common units, aligning director compensation with unitholder interests over time.
When do Randa Duncan Williams’s newly granted EPD phantom units vest?
The newly granted 500,000 phantom units are scheduled to vest on February 16, 2030. Upon vesting, the filing explains they will expire and be settled in exchange for an equal number of Enterprise Products Partners common units, delivering value at that future date.
What other phantom unit holdings does the EPD Form 4 show for Randa Duncan Williams?
The filing lists existing direct holdings of 482,000, 535,000, 550,000, and 475,000 phantom units. Footnotes state these awards vest on February 16 of 2026, 2027, 2028, and 2029, respectively, each settling into an equal number of EPD common units.
How many EPD common units are shown as directly held in the Form 4?
The report shows 1,125,057 Enterprise Products Partners common units held directly. Additional large positions are reported as indirectly owned by entities such as Enterprise Products Company, EPCO Holdings, Inc., family trusts, and spouse-affiliated entities, with specific disclaimers of beneficial ownership.
How are EPCO and EPCO Holdings involved in EPD ownership in this Form 4?
The Form 4 shows 74,754,703 EPD common units held indirectly by Enterprise Products Company and 604,549,004 units held indirectly by EPCO Holdings, Inc.. Footnotes explain Ms. Williams’ trustee role and state she disclaims beneficial ownership beyond any pecuniary interest in these positions.