EPD (EPD) EVP exercises phantom units, delivers shares for tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Enterprise Products Partners EVP Christian M. Nelly reported multiple equity compensation transactions involving phantom units and common units representing limited partnership interests on February 16, 2026. Several phantom unit awards were exercised or converted into common units at a stated price of $0.00 per unit.
Related tax-withholding dispositions of common units occurred at a transaction price of $36.75 per unit, reflecting delivery of units to satisfy tax obligations rather than open-market sales. After these transactions, the reporting person directly held 320,278 common units and 80,000 phantom units, plus 20,000.5 common units indirectly held for the benefit of a family member, for which beneficial ownership is disclaimed except for any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
86,525 shares exercised/converted
Mixed
14 txns
Insider
Nelly Christian M.
Role
EVP-FIN/SUSTAIN. AND TREASURER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Units | 21,250 | $0.00 | -- |
| Exercise | Phantom Units | 23,125 | $0.00 | -- |
| Exercise | Phantom Units | 22,750 | $0.00 | -- |
| Exercise | Phantom Units | 19,400 | $0.00 | -- |
| Exercise | Common Units Representing Limited Partnership Interests | 21,250 | $0.00 | -- |
| Tax Withholding | Common Units Representing Limited Partnership Interests | 8,362 | $36.75 | $307K |
| Exercise | Common Units Representing Limited Partnership Interests | 23,125 | $0.00 | -- |
| Tax Withholding | Common Units Representing Limited Partnership Interests | 9,100 | $36.75 | $334K |
| Exercise | Common Units Representing Limited Partnership Interests | 22,750 | $0.00 | -- |
| Tax Withholding | Common Units Representing Limited Partnership Interests | 8,953 | $36.75 | $329K |
| Exercise | Common Units Representing Limited Partnership Interests | 19,400 | $0.00 | -- |
| Tax Withholding | Common Units Representing Limited Partnership Interests | 7,634 | $36.75 | $281K |
| holding | Phantom Units | -- | -- | -- |
| holding | Common Units Representing Limited Partnership Interests | -- | -- | -- |
Holdings After Transaction:
Phantom Units — 0 shares (Direct);
Common Units Representing Limited Partnership Interests — 289,052 shares (Direct);
Common Units Representing Limited Partnership Interests — 20,000.5 shares (Indirect, By Mother-In-Law)
Footnotes (1)
- Each phantom unit is the economic equivalent of one EPD common unit. These common units are held for the benefit of the specified member of the reporting person's immediate family. The reporting person disclaims beneficial ownership of these common units, except to the extent of his pecuniary interest, if any. These phantom units vested in one remaining annual installment on February 16, 2026. The remaining annual installment expired upon vesting and settlement thereof in exchange for an equal number of EPD common units. These phantom units vest in two remaining equal annual installments beginning on February 16, 2026. Each remaining annual installment will expire upon vesting and settlement thereof in exchange for an equal number of EPD common units. These phantom units vest in three remaining equal annual installments beginning on February 16, 2026. Each remaining annual installment will expire upon vesting and settlement thereof in exchange for an equal number of EPD common units. These phantom units vest in four equal annual installments beginning on February 16, 2026. Each annual installment will expire upon vesting and settlement thereof in exchange for an equal number of EPD common units. These phantom units vest in four equal annual installments beginning on February 16, 2027. Each annual installment 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 transactions did EPD executive Christian M. Nelly report on this Form 4?
Christian M. Nelly reported exercises of phantom units into common units and related tax-withholding dispositions on February 16, 2026. The transactions involved phantom units economically equivalent to common units and common units representing limited partnership interests of Enterprise Products Partners.
How many Enterprise Products Partners common units does the EPD executive hold after the Form 4 transactions?
Following the reported transactions, Christian M. Nelly directly held 320,278 common units representing limited partnership interests in Enterprise Products Partners. In addition, 20,000.5 common units were indirectly held for the benefit of a family member, with beneficial ownership disclaimed except for any pecuniary interest.
What are the tax-withholding dispositions reported in the EPD Form 4 filing?
The Form 4 shows several tax-withholding dispositions coded “F,” where common units were delivered to satisfy tax liabilities. These transactions involved thousands of common units at a transaction price of $36.75 per unit, reflecting payment of tax obligations rather than open-market sales.
How do the phantom units in the EPD Form 4 relate to common units?
The footnotes state each phantom unit is the economic equivalent of one Enterprise Products Partners common unit. Upon vesting and settlement, phantom units expire and are exchanged for an equal number of common units representing limited partnership interests, as reflected in the reported exercises.
What vesting schedule applies to the EPD executive’s phantom units after these transactions?
Footnotes describe multiple phantom unit awards vesting in remaining equal annual installments beginning on February 16, 2026 or February 16, 2027. Each annual installment will expire upon vesting and settlement in exchange for an equal number of Enterprise Products Partners common units.
How are family-held EPD units treated in Christian M. Nelly’s Form 4?
The Form 4 notes 20,000.5 common units are held for the benefit of a specified immediate family member. The reporting person disclaims beneficial ownership of these units, except to the extent of any pecuniary interest, and they are reported as indirect ownership.