Randa Duncan Williams (EPD) awarded 500,000 phantom units vesting in 2030

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.

02/10/2026 - 05:30 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

WILLIAMS RANDA DUNCAN

(Last) (First) (Middle)

1100 LOUISIANA STREET

SUITE 1000

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ENTERPRISE PRODUCTS PARTNERS L.P. [ EPD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Units Representing Limited Partnership Interests								1,125,057	D
Common Units Representing Limited Partnership Interests								74,754,703	I	By EPCO(1)
Common Units Representing Limited Partnership Interests								604,549,004	I	By EPCO Holdings(2)
Common Units Representing Limited Partnership Interests								4,915,182	I	By RDW 2018 Family Trust(3)
Common Units Representing Limited Partnership Interests								4,915,182	I	By DGD 2018 Family Trust(4)
Common Units Representing Limited Partnership Interests								4,915,182	I	By MDF 2018 Family Trust(5)
Common Units Representing Limited Partnership Interests								1,638,394	I	By RDW 2023 Family Trust(6)
Common Units Representing Limited Partnership Interests								1,638,394	I	By DGD 2023 Family Trust(7)
Common Units Representing Limited Partnership Interests								1,638,394	I	By MDF 2023 Family Trust(8)
Common Units Representing Limited Partnership Interests								469,923	I	By RLD Grantor Trust(9)
Common Units Representing Limited Partnership Interests								469,923	I	By DGD Grantor Trust(10)
Common Units Representing Limited Partnership Interests								469,923	I	By MDD Grantor Trust(11)
Common Units Representing Limited Partnership Interests								640,637	I	By A&W Ltd.(12)
Common Units Representing Limited Partnership Interests								106,613	I	By Chaswil, Ltd.(13)
Common Units Representing Limited Partnership Interests								9,090	I	By Spouse
Common Units Representing Limited Partnership Interests								4,040	I	Jointly with Spouse

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Units	(14)							(15)	(15)	Common Units	482,000		482,000	D
Phantom Units	(14)							(16)	(16)	Common Units	535,000		535,000	D
Phantom Units	(14)							(17)	(17)	Common Units	550,000		550,000	D
Phantom Units	(14)							(18)	(18)	Common Units	475,000		475,000	D
Phantom Units	(14)	02/10/2026		A		500,000		(19)	(19)	Common Units	500,000	$0	500,000	D(20)

1. Name and Address of Reporting Person^*

WILLIAMS RANDA DUNCAN

(Last) (First) (Middle)

1100 LOUISIANA STREET

SUITE 1000

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Enterprise Products Co

(Last) (First) (Middle)

1100 LOUISIANA STREET

SUITE 1000

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

EPCO Holdings, Inc.

(Last) (First) (Middle)

1100 LOUISIANA STREET

SUITE 1000

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

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.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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.

9. 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.

10. 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.

11. 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.

12. 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.

13. 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.

14. Each phantom unit is the economic equivalent of one EPD Common Unit.

15. 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.

16. 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.

17. 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.

18. 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.

19. 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.

20. The power of attorney under which this form was signed is on file with the Commission.

Remarks:

Transaction Code A - Grant, award or other acquisition pursuant to Rule 16b-3(d)

	/s/Jennifer W. Dickson, Attorney-in-Fact on behalf of Randa Duncan Williams and Assistant Secretary of EPCO and EPCO Holdings	02/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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.