EPD executive exercises phantom units, with tax withholding
Enterprise Products Partners’ executive vice president and COO Graham W. Bacon reported compensation-related unit activity.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Enterprise Products Partners’ executive vice president and COO Graham W. Bacon reported compensation-related unit activity. On February 16, 2026, he exercised phantom units that convert into common units, increasing his direct holdings. In separate entries, blocks of common units were withheld at a stated price of $36.75 per unit to cover tax obligations.
Insider Trade Summary
90,000 shares exercised/converted
Exercise
12 txns
Insider
Bacon Graham W.
Role
EXECUTIVE VICE PRESIDENT & COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Units | 23,750 | $0.00 | $0.00 |
| Exercise | Phantom Units | 25,000 | $0.00 | $0.00 |
| Exercise | Phantom Units | 22,500 | $0.00 | $0.00 |
| Exercise | Phantom Units | 18,750 | $0.00 | $0.00 |
| Exercise | Common Units Representing Limited Partnership Interests | 23,750 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Units Representing Limited Partnership Interests | 9,346 | $36.75 | $343K |
| Exercise | Common Units Representing Limited Partnership Interests | 25,000 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Units Representing Limited Partnership Interests | 9,838 | $36.75 | $362K |
| Exercise | Common Units Representing Limited Partnership Interests | 22,500 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Units Representing Limited Partnership Interests | 8,854 | $36.75 | $325K |
| Exercise | Common Units Representing Limited Partnership Interests | 18,750 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Units Representing Limited Partnership Interests | 7,379 | $36.75 | $271K |
| Holding | Phantom Units | -- | -- | -- |
Holdings After Transaction:
Phantom Units — 211,250 contracts for 85,000 underlying shares (Direct);
Common Units Representing Limited Partnership Interests — 676,476 shares (Direct)
Footnotes (7)
- F1. Each phantom unit is the economic equivalent of one EPD common unit.
- F2. 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.
- F3. 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.
- F4. 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.
- F5. 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.
- F6. 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.
- F7. The power of attorney under which this form was signed is on file with the Commission.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did EPD executive Graham W. Bacon report?
Graham W. Bacon reported exercises of phantom units that converted into common units and related tax-withholding dispositions. These entries reflect compensation vesting and settlement, rather than open-market purchases or sales, and adjust his direct ownership position in Enterprise Products Partners’ common units.
What are phantom units in the EPD Form 4 for Graham W. Bacon?
Phantom units are awards economically equivalent to one Enterprise Products Partners common unit. According to the filing, these phantom units vest in scheduled annual installments and, upon vesting and settlement, are exchanged on a one-for-one basis for EPD common units under the company’s compensation arrangements.
Did Graham W. Bacon sell EPD units on the open market in this filing?
The filing shows no open-market sales. Dispositions are coded “F,” indicating units were delivered to satisfy exercise price or tax liabilities. These tax-withholding dispositions reduce the net units received from phantom unit settlement but do not represent discretionary market sales of Enterprise Products Partners units.
How did the Form 4 transactions affect Graham W. Bacon’s EPD holdings?
The transactions increased his holdings through conversion of phantom units into common units, while some units were simultaneously withheld to cover taxes. The reported end-of-transaction balances show a higher direct common unit total, reflecting net equity compensation after these tax-related withholdings were applied.
What vesting schedule applies to Graham W. Bacon’s EPD phantom units?
Footnotes describe phantom units vesting in remaining equal annual installments beginning February 16, 2026, with some series extending to February 16, 2027. Each installment expires upon vesting and is settled in an equal number of EPD common units, aligning compensation delivery with these scheduled vesting dates.
AI-generated analysis. How Rhea-AI works. Not financial advice.
