Enterprise Products (NYSE: EPD) grants EVP 85,000 phantom units

Rhea-AI Filing Summary

Enterprise Products Partners executive Graham W. Bacon, Executive Vice President & COO, reported an equity-based compensation award in the form of phantom units tied to Enterprise Products Partners L.P. common units.

On February 10, 2026, he received 85,000 phantom units at a price of $0 per unit under a Rule 16b-3(d) grant. These phantom units vest in four equal annual installments beginning on February 16, 2027, and each installment will be settled for an equal number of EPD common units.

The filing also shows previously awarded phantom units that remain outstanding, including blocks of 23,750, 50,000, 67,500, and 75,000 phantom units, which vest in remaining annual installments beginning on February 16, 2026, each settling into the same number of common units as they vest. Separately, Bacon holds 621,893 Enterprise Products Partners common units directly.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Bacon Graham W.

Role EXECUTIVE VICE PRESIDENT & COO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Units	85,000	$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 — 85,000 shares (Direct); Common Units Representing Limited Partnership Interests — 621,893 shares (Direct)

Footnotes (1)

1. 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 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^*

Bacon Graham W.

(Last) (First) (Middle)

1100 LOUISIANA STREET

SUITE 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)
	EXECUTIVE VICE PRESIDENT & COO

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								621,893	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	(1)							(2)	(2)	Common Units	23,750		23,750	D
Phantom Units	(1)							(3)	(3)	Common Units	50,000		50,000	D
Phantom Units	(1)							(4)	(4)	Common Units	67,500		67,500	D
Phantom Units	(1)							(5)	(5)	Common Units	75,000		75,000	D
Phantom Units	(1)	02/10/2026		A		85,000		(6)	(6)	Common Units	85,000	$0	85,000	D(7)

Explanation of Responses:

1. Each phantom unit is the economic equivalent of one EPD common unit.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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 Graham W. Bacon	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.

FAQ

What did EPD executive Graham W. Bacon report in this Form 4?

Bacon reported a grant of 85,000 phantom units of Enterprise Products Partners on February 10, 2026. These units are equity-based compensation economically equivalent to EPD common units and will vest over several years according to the plan’s schedule.

How do the new 85,000 EPD phantom units for Bacon vest?

The 85,000 phantom units vest in four equal annual installments starting February 16, 2027. Each installment will be settled in the same number of Enterprise Products Partners common units when it vests, aligning compensation with long-term unit performance.

What are phantom units in the context of EPD’s Form 4 filing?

For Enterprise Products Partners, each phantom unit is the economic equivalent of one common unit. They are bookkeeping entries that vest over time and are then settled in an equal number of EPD common units as part of long-term incentive compensation.

What existing phantom unit awards does Graham W. Bacon hold at EPD?

The filing lists prior phantom unit awards of 23,750, 50,000, 67,500, and 75,000 units. These awards vest in remaining annual installments beginning on February 16, 2026, each settling into the same number of Enterprise Products Partners common units.

How many EPD common units does Bacon directly own after this Form 4?

Bacon is reported as directly owning 621,893 Enterprise Products Partners common units. This figure reflects his direct holdings of common units representing limited partnership interests, separate from his phantom unit awards disclosed in the same Form 4.

What is the transaction code used for the new EPD phantom unit grant?

The new phantom unit grant is reported with transaction code A, indicating a grant, award or other acquisition under Rule 16b-3(d). This code is commonly used for stock- or unit-based compensation awards to company insiders.