PAA director sells 2,346 units in open market

Plains All American Pipeline LP director Lawrence Michael Ziemba sold his remaining stake in the partnership.

Rhea-AI Filing Summary

Plains All American Pipeline LP director Lawrence Michael Ziemba sold his remaining stake in the partnership. On June 29, 2026, he executed an open-market sale of 2,346 Common Units at $21.95 per unit, leaving him with 0 Common Units held directly after the transaction.

Insider Trade Summary

Net Seller: 2,346 shares

Net Sell 1 txn

Insider Ziemba Lawrence Michael

Role Director

Sold 2,346 shs ($51K)

Type	Security	Shares	Price	Value
Sale	Common Units	2,346	$21.95	$51K

Holdings After Transaction: Common Units — 0 shares (Direct)

Key Figures

Common Units sold: 2,346 units Sale price per unit: $21.95 per unit Units after transaction: 0 units +1 more

4 metrics

Common Units sold 2,346 units Open-market sale on June 29, 2026

Sale price per unit $21.95 per unit Price for Common Units sold on June 29, 2026

Units after transaction 0 units Total Common Units directly held post-transaction

Net share direction -2,346 units Net-sell based on transactionSummary

Key Terms

Common Units, open-market sale, transaction code "S"

3 terms

Common Units financial

"Transaction involved Common Units of Plains All American Pipeline LP."

Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.

open-market sale financial

"The transaction is described as an open-market sale of units."

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

transaction code "S" financial

"The filing uses transaction code "S" for the sale."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did PAA director Lawrence Michael Ziemba report in this Form 4?

Lawrence Michael Ziemba reported an open-market sale of 2,346 Plains All American Pipeline LP Common Units at $21.95 per unit, leaving him with zero Common Units held directly after the transaction.

How many Plains All American (PAA) units did the director sell?

The director sold 2,346 Common Units of Plains All American Pipeline LP. This single transaction reduced his directly held Common Units position to zero according to the post-transaction holdings reported.

At what price were the PAA Common Units sold in this insider trade?

The Plains All American Pipeline LP Common Units were sold at $21.95 per unit. This price reflects the per-unit amount reported for the open-market sale executed on June 29, 2026.

What is the director’s remaining direct ownership in PAA after this sale?

Following the reported transaction, the director’s direct ownership in Plains All American Pipeline LP Common Units is zero. The Form 4 shows total Common Units following the transaction as 0.0000.

Was the PAA insider transaction an open-market sale or another type?

The transaction was an open-market sale of Common Units. It is coded as an “S” transaction and described as a sale in the open market or private transaction in the filing data.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/30/2026 - 04:10 PM EDT Learn about SEC filing dates

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^*

Ziemba Lawrence Michael

(Last) (First) (Middle)

333 CLAY STREET

SUITE 1600

(Street)

HOUSTON TEXAS 77002

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PLAINS ALL AMERICAN PIPELINE LP [ PAA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/29/2026		S		2,346	D	$21.95	0	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

Explanation of Responses:

	/s/ Lawrence Michael Ziemba	06/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)