EPD (EPD) director converts phantom units and disposes shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Enterprise Products Partners L.P. director Richard H. Bachmann exercised 83,500 phantom units into an equal number of common units representing limited partnership interests on February 16, 2026, at a stated price of $0.00 per unit. Following this derivative exercise, his direct ownership in common units increased, with 2,303,684 units reported before a related tax transaction.
To cover tax obligations tied to this vesting and settlement, 32,858 common units were disposed of at $36.75 per unit, leaving Bachmann with 2,270,826 common units held directly after these transactions. The phantom units are economically equivalent to common units and future phantom unit awards are scheduled to vest annually from February 16, 2027 through February 16, 2030, each expiring upon vesting and settlement into an equal number of common units.
Positive
- None.
Negative
- None.
Insider Trade Summary
83,500 shares exercised/converted
Mixed
7 txns
Insider
BACHMANN RICHARD H
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Units | 83,500 | $0.00 | -- |
| Exercise | Common Units Representing Limited Partnership Interests | 83,500 | $0.00 | -- |
| Tax Withholding | Common Units Representing Limited Partnership Interests | 32,858 | $36.75 | $1.21M |
| holding | Phantom Units | -- | -- | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Phantom Units | -- | -- | -- |
| holding | Phantom Units | -- | -- | -- |
Holdings After Transaction:
Phantom Units — 0 shares (Direct);
Common Units Representing Limited Partnership Interests — 2,303,684 shares (Direct)
Footnotes (1)
- Each phantom unit is the economic equivalent of one EPD common unit. 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 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 transactions did EPD director Richard H. Bachmann report on this Form 4?
Richard H. Bachmann reported exercising 83,500 phantom units into 83,500 Enterprise Products Partners common units and disposing of 32,858 common units to satisfy tax obligations. After these transactions, he directly held 2,270,826 common units in the partnership.
How many Enterprise Products Partners (EPD) common units did the director receive from phantom units?
Bachmann received 83,500 common units upon exercising 83,500 phantom units. Each phantom unit is economically equivalent to one EPD common unit, and the exercise was reported at a stated price of $0.00 per unit in the Form 4 filing.
Why were 32,858 EPD common units disposed of in this insider filing?
The 32,858 EPD common units were disposed of to pay the exercise price or related tax liability, as indicated by transaction code F. This reflects a tax-withholding disposition rather than an open-market sale of units by the reporting director.
What is Richard H. Bachmann’s direct EPD common unit ownership after these transactions?
After exercising phantom units and disposing of units for tax withholding, Bachmann directly owned 2,270,826 common units of Enterprise Products Partners. This figure reflects his reported direct holdings immediately following the February 16, 2026 transactions disclosed in the Form 4.
How do EPD phantom units work for the reporting director in this Form 4?
Each phantom unit is economically equivalent to one EPD common unit. Phantom units vest on specified future dates and expire upon vesting and settlement into common units, providing the director with equity-based compensation aligned with Enterprise Products Partners’ common units.
When will the remaining EPD phantom units reported by the director vest?
The remaining phantom units reported are scheduled to vest on February 16 in successive years: 2027, 2028, 2029, and 2030. At each vesting date, the phantom units will expire upon settlement into an equal number of Enterprise Products Partners common units.