Enterprise Products Partners (EPD) director receives 350,000 phantom units in equity grant

Rhea-AI Filing Summary

Enterprise Products Partners L.P. director Richard H. Bachmann reported an equity compensation award and updated holdings. On February 10, 2026, he received a grant of 350,000 phantom units at a price of $0 per unit, increasing his directly held phantom units of that grant to 350,000.

Each phantom unit is the economic equivalent of one EPD common unit and will vest on February 16, 2030, then be settled for an equal number of common units. Bachmann also reports direct ownership of 2,220,184 common units, including units acquired under the employee unit purchase plan, and multiple prior phantom unit awards totaling hundreds of thousands of units that vest annually from February 16, 2026 through February 16, 2029.

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

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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^*

BACHMANN RICHARD H

(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		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)

X	Form filed by One Reporting Person
	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								2,220,184(1)	D

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	(2)							(3)	(3)	Common Units	83,500		83,500	D
Phantom Units	(2)							(4)	(4)	Common Units	375,000		375,000	D
Phantom Units	(2)							(5)	(5)	Common Units	400,000		400,000	D
Phantom Units	(2)							(6)	(6)	Common Units	340,000		340,000	D
Phantom Units	(2)	02/10/2026		A		350,000		(7)	(7)	Common Units	350,000	$0	350,000	D(8)

Explanation of Responses:

1. Includes common units acquired under the issuer's employee unit purchase plan.

2. Each phantom unit is the economic equivalent of one EPD common unit.

3. These phantom units vest in one remaining annual installment on February 16, 2026. The remaining annual installment will expire upon vesting and settlement thereof in exchange for an equal number of EPD common units.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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 Richard H. Bachmann	02/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did EPD director Richard H. Bachmann report on February 10, 2026?

Richard H. Bachmann reported receiving a grant of 350,000 phantom units on February 10, 2026. The award was recorded at a price of $0 per unit and is classified as a derivative equity compensation grant under Transaction Code A pursuant to Rule 16b-3(d).

How do Enterprise Products Partners (EPD) phantom units work for Richard H. Bachmann?

Each phantom unit is the economic equivalent of one EPD common unit. Upon vesting, the phantom units expire and are settled in an equal number of EPD common units, effectively converting the award into regular limited partnership interests for the reporting person at the applicable vesting dates.

When do Richard H. Bachmann’s EPD phantom unit awards vest and settle?

Bachmann’s phantom units vest in staged installments: one remaining installment on February 16, 2026, and additional grants vest on February 16 of 2027, 2028, 2029, and 2030. At each vesting date, the units expire upon settlement into an equal number of EPD common units.

How many EPD common units does Richard H. Bachmann beneficially own after this Form 4?

Following the reported transactions, Bachmann beneficially owns 2,220,184 EPD common units directly. This figure includes common units acquired under the issuer’s employee unit purchase plan, as disclosed in the footnotes of the insider ownership report filed under Section 16.

What other EPD phantom unit positions does Richard H. Bachmann hold besides the new 350,000 grant?

In addition to the new 350,000 phantom units, Bachmann reports direct holdings of 83,500, 375,000, 400,000, and 340,000 phantom units from prior grants. These awards vest between February 16, 2026 and February 16, 2029, and each will settle into an equivalent number of EPD common units.

What is the significance of Transaction Code A in Richard H. Bachmann’s EPD Form 4 filing?

Transaction Code A indicates a grant, award, or other acquisition under Rule 16b-3(d). In this case, it reflects an equity compensation grant of 350,000 phantom units to director Richard H. Bachmann, rather than an open-market purchase or sale of Enterprise Products Partners common units.