Plains All American Pipeline LP (PAA) reports EVP & COO Dean Liollio’s holdings dated October 2, 2026: 344,305 Common Units directly, plus 1,200 held by his spouse and 130 by his child. He also holds four direct Phantom Unit positions with disclosed underlying amounts of 56,100, 56,750, 44,600 and 150,000 Common Units; one Common Unit is deliverable upon vesting for each Phantom Unit that vests. Vesting dates range from August 2027 to August 2029, with continued-service or performance conditions depending on the award.
Plains All American Pipeline LP (PAA) is the issuer in an amended Schedule 13G reporting its common units. As of September 30, 2026, ALPS Advisors, Inc. reported 69,261,580 common units, or 9.82%, with shared voting and dispositive power; Alerian MLP ETF reported 69,239,130 common units, or 9.81%, with the same shared powers.
Plains All American Pipeline LP (PAA) is the issuer in CIBC Private Wealth Group LLC’s amended ownership report. CIBC reported beneficial ownership of 0 Preferred Convertible securities, or 0% of the class, as of December 31, 2024, and reported zero sole and shared voting and dispositive power.
Plains All American Pipeline LP EVP, General Counsel & Sec. Richard K. McGee gifted each of his four children 30,000 Class A Units of Plains AAP, L.P., along with Class B shares of Plains GP Holdings, L.P., on September 30, 2026. The reported gift totaled 120,000 units. After the gift, McGee reported 294,607 Class A Units/Class B Shares.
Plains All American Pipeline, L.P. (PAA) and Plains GP Holdings announced Dean Liollio’s appointment as Executive Vice President and Chief Operating Officer of their respective general partners, effective October 2, 2026. He will replace Chris Chandler, who gave notice on September 25, 2026, that he will resign effective October 2, 2026, to pursue other interests; the company stated the resignation is not due to a disagreement over its operations, policies or practices.
Liollio, 67, had served as Senior Vice President, Special Projects, since June 2024 and previously held leadership roles at Plains businesses. As EVP and COO, he will receive a $625,000 annual base salary, an annual bonus target equal to 150% of base salary, and a time-based promotional LTIP grant of 150,000 phantom units vesting in August 2029.
PLAINS ALL AMERICAN PIPELINE LP (PAA) reports that director John T. Raymond, through an affiliated entity, disposed of 20,376,259 Series A Convertible Preferred Units on September 14, 2026 via a redemption by the issuer at $28.875 per Preferred Unit, equal to 110% of their $26.25 face value, plus accrued and unpaid distributions; these preferred units, which were previously convertible into common units on a one-for-one basis, were fully redeemed and the reporting person now shows 0 such preferred units held indirectly.
Plains All American Pipeline, L.P. (PAA) completed a public debt offering of $700 million 6.750% Series A Junior Subordinated Notes due 2056 and $800 million 7.000% Series B Junior Subordinated Notes due 2056, for a total of $1.5 billion in new junior subordinated debt.
The Notes are unsecured obligations that rank junior and subordinate to PAA’s existing and future senior indebtedness and are not guaranteed by subsidiaries. They mature on December 15, 2056, with interest paid semi-annually starting June 15, 2027, and feature rate resets every five years after December 15, 2031 (Series A) and December 15, 2036 (Series B), based on the Five-Year U.S. Treasury Rate plus a spread, with a floor at the initial coupon. PAA may redeem the Notes in the 90 days before the first reset dates and on subsequent interest payment dates, as well as at certain other times specified in the Indenture.
PLAINS ALL AMERICAN PIPELINE, L.P. (PAA) is issuing $1.5 billion of fixed‑to‑fixed reset junior subordinated notes, split between $700 million 6.750% Series A and $800 million 7.000% Series B, both maturing December 15, 2056. Coupons reset every five years after 2031 (Series A) or 2036 (Series B) to the Five‑year U.S. Treasury Rate plus 2.141% or 2.167%, respectively, with rate floors at the initial coupons.
Interest begins accruing September 14, 2026 and is payable semi‑annually on June 15 and December 15, starting June 15, 2027. PAA may defer interest for up to 20 consecutive semi‑annual periods per deferral, with unpaid interest compounding, and faces distribution and junior‑debt payment restrictions during any deferral. The unsecured notes are contractually junior to all existing and future Senior Indebtedness and structurally subordinated to subsidiary obligations, with no subsidiary guarantees and no listing planned.
PAA expects net proceeds of about $1.479 billion, which, together with cash on hand and commercial paper, are intended to redeem all 58,411,908 Series A Preferred Units at $28.875 per unit and all 800,000 Series B Preferred Units at $1,000 per unit plus accrued distributions. On an as‑adjusted basis at June 30, 2026, long‑term debt would total about $9.9 billion and preferred equity would be eliminated, simplifying the capital structure but increasing junior subordinated debt.
PLAINS ALL AMERICAN PIPELINE LP (PAA) reported the initial equity holdings of officer Montgomery Russell Lee, Vice President, Accounting & Chief Accounting Officer. He directly holds 162,050 common units and three awards of Phantom Units, each representing the right to receive one common unit upon vesting under the Long-Term Incentive Plan.
The Phantom Units, covering 19,150, 19,250, and 17,100 underlying common units, vest in August 2027, 2028, and 2029, respectively, based on continued service and performance conditions tied to total shareholder return versus a peer group and cumulative distributable cash flow per common unit equivalent, with payout ranges between 0% and 200%. Distribution equivalent rights associated with these awards are payable in cash.
Plains All American Pipeline LP (PAA) received an updated Schedule 13G/A (Amendment No. 15) reporting that ALPS Advisors, Inc. and Alerian MLP ETF together beneficially own 70,510,853 common units, representing 9.99% of the class. The filing states they have shared voting and dispositive power over all of these units and no sole voting or dispositive power.
The units are held by investment funds for which ALPS Advisors, Inc. acts as investment adviser, and ALPS Advisors, Inc. disclaims beneficial ownership of the securities beyond what may be deemed under Section 13(d) reporting requirements. Alerian MLP ETF is identified as one of these registered investment companies.