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Enterprise Products (NYSE: EPD) awards 75,000 phantom units to EVP

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Enterprise Products Partners L.P. executive Michael C. Hanley, EVP & Chief Commercial Officer, reported an equity-based compensation award. On February 10, 2026, he received 75,000 phantom units at a price of $0 under a Rule 16b-3(d) grant.

Each phantom unit is economically equivalent to one EPD common unit and will vest in four equal annual installments beginning on February 16, 2027, settling in an equal number of common units. Following this award, he also directly holds 136,075 common units representing limited partnership interests.

Positive

  • None.

Negative

  • None.
Insider Hanley Michael C.
Role EVP & Chief Commercial Officer
Type Security Shares Price Value
Grant/Award Phantom Units 75,000 $0.00 --
holding Phantom Units -- -- --
holding Phantom Units -- -- --
holding Phantom Units -- -- --
holding Phantom Units -- -- --
holding Phantom Units -- -- --
holding Common Units Representing Limited Partnership Interests -- -- --
Holdings After Transaction: Phantom Units — 75,000 shares (Direct); Common Units Representing Limited Partnership Interests — 136,075 shares (Direct)
Footnotes (1)
  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 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 on February 16, 2030. These phantom units 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.
Form 4 Insider Transactions: What Each Field Means →
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*
Hanley Michael C.
(Last) (First) (Middle)
1100 LOUISIANA ST, STE 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)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP & Chief Commercial Officer
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 136,075(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 8,750 8,750 D
Phantom Units (2) (4) (4) Common Units 20,000 20,000 D
Phantom Units (2) (5) (5) Common Units 28,125 28,125 D
Phantom Units (2) (6) (6) Common Units 32,500 32,500 D
Phantom Units (2) (7) (7) Common Units 100,000 100,000 D
Phantom Units (2) 02/10/2026 A 75,000 (8) (8) Common Units 75,000 $0 75,000 D(9)
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 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.
5. 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.
6. 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.
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. 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.
9. 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 Michael C. Hanley 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did EPD executive Michael C. Hanley report on this Form 4 filing?

Michael C. Hanley reported receiving an equity-based award of 75,000 phantom units on February 10, 2026. These units are part of his compensation and are economically equivalent to Enterprise Products Partners common units, vesting in four equal annual installments starting February 16, 2027.

How many phantom units did EPD grant to EVP Michael Hanley?

Enterprise Products Partners granted Michael Hanley 75,000 phantom units on February 10, 2026. The award was reported with a transaction code A, indicating a grant or other acquisition under Rule 16b-3(d), at a price of $0 per phantom unit as part of his compensation.

What are phantom units in the EPD Form 4 for Michael Hanley?

In this filing, each phantom unit is the economic equivalent of one EPD common unit. The phantom units do not involve an immediate cash payment but vest over time and settle in an equal number of common units, aligning the executive’s compensation with unitholder value.

When do Michael Hanley’s 75,000 EPD phantom units vest?

Michael Hanley’s 75,000 phantom units vest in four equal annual installments beginning on February 16, 2027. Each annual installment will expire upon vesting and be settled in an equal number of Enterprise Products Partners common units, creating a multi-year incentive structure.

How many EPD common units does Michael Hanley directly own after this filing?

After the reported transactions, Michael Hanley directly owns 136,075 common units representing limited partnership interests in Enterprise Products Partners. This figure includes common units previously acquired, including those obtained under the company’s employee unit purchase plan, as noted in the filing footnotes.

What does transaction code A mean in Michael Hanley’s EPD Form 4?

Transaction code A in this Form 4 indicates a grant, award, or other acquisition of securities. For Michael Hanley, it reflects the award of 75,000 phantom units under Rule 16b-3(d), representing a compensation-related grant rather than an open-market purchase or sale.