Enterprise Products Partners (EPD) director receives 350,000 phantom units in equity grant
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
BACHMANN RICHARD H
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Units | 350,000 | $0.00 | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
Holdings After Transaction:
Phantom Units — 350,000 shares (Direct);
Common Units Representing Limited Partnership Interests — 2,220,184 shares (Direct)
Footnotes (1)
- Includes common units acquired under the issuer's employee unit purchase plan. Each phantom unit is the economic equivalent of one EPD common unit. 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. 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 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.