Plains GP (NYSE: PAGP) director exercises 7,400 shares, gets new grant

Rhea-AI Filing Summary

PLAINS GP HOLDINGS LP director Alexandra Pruner reported equity compensation activity in August 2026. On August 14, 2026, she exercised 7,400 Phantom Class A shares, resulting in 7,400 Class A shares acquired and direct holdings of 88,294 Class A shares afterward. On August 13, 2026, she received a grant of 6,150 Phantom Class A shares under a Long-Term Incentive Plan, including associated dividend equivalent rights payable in cash. One Class A share is deliverable for each Phantom Class A share that vests, with settlement tied to termination of service as director, other than because of death, disability or retirement.

Insider Trade Summary

Net Buyer: 7,400 shares

Net Buy 3 txns

Insider Pruner Alexandra

Role Director

Type	Security	Shares	Price	Value
Exercise	Phantom Class A Shares F1, F2	7,400	$0.00	$0.00
Exercise	Class A Shares	7,400	$0.00	$0.00
Grant/Award	Phantom Class A Shares F1, F2, F3	6,150	$0.00	$0.00

Holdings After Transaction: Phantom Class A Shares — 6,150 shares (Direct); Class A Shares — 88,294 shares (Direct)

Footnotes (3)

1. F1. Phantom Class A shares granted under Long-Term Incentive Plan (includes associated dividend equivalent rights payable in cash).
2. F2. One Class A share is deliverable for each Phantom Class A share that vests.
3. F3. Upon termination of service as director, other than because of death, disability or retirement.

Key Figures

Phantom shares exercised: 7,400 shares Class A shares acquired: 7,400 shares Class A shares held after transaction: 88,294 shares +2 more

5 metrics

Phantom shares exercised 7,400 shares Phantom Class A shares exercised on August 14, 2026

Class A shares acquired 7,400 shares Class A shares received upon exercise on August 14, 2026

Class A shares held after transaction 88,294 shares Direct Class A share holdings following August 14, 2026 transaction

New Phantom Class A share grant 6,150 shares Phantom Class A shares granted on August 13, 2026 under Long-Term Incentive Plan

Conversion ratio 1 Class A share per Phantom Class A share Delivery terms for vested Phantom Class A shares

Key Terms

Phantom Class A shares, Long-Term Incentive Plan, dividend equivalent rights

3 terms

Phantom Class A shares financial

"Phantom Class A shares granted under Long-Term Incentive Plan"

Long-Term Incentive Plan financial

"Phantom Class A shares granted under Long-Term Incentive Plan"

A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.

dividend equivalent rights financial

"includes associated dividend equivalent rights payable in cash"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

FAQ

What equity transactions did PAGP director Alexandra Pruner report on this Form 4?

Alexandra Pruner reported three equity-related transactions: an August 14, 2026 exercise of 7,400 Phantom Class A shares into 7,400 Class A shares, and an August 13, 2026 grant of 6,150 Phantom Class A shares under a Long-Term Incentive Plan.

How many PAGP Class A shares does Alexandra Pruner hold after these transactions?

After the August 14, 2026 exercise, Alexandra Pruner directly holds 88,294 Class A shares of PLAINS GP HOLDINGS LP. This reflects the addition of 7,400 Class A shares received upon conversion of Phantom Class A shares reported in the same Form 4.

What are Phantom Class A shares in the context of PAGP’s Long-Term Incentive Plan?

Phantom Class A shares are awards under a Long-Term Incentive Plan that track PAGP’s Class A shares. For Pruner’s awards, one Class A share is deliverable for each Phantom Class A share that vests, and they include dividend equivalent rights payable in cash.

What were the details of Alexandra Pruner’s new Phantom Class A share grant at PAGP?

On August 13, 2026, Pruner was granted 6,150 Phantom Class A shares under a Long-Term Incentive Plan. Each phantom share is linked to one Class A share upon vesting and carries dividend equivalent rights payable in cash, with settlement tied to specified termination-of-service conditions.

On what terms were PAGP Phantom Class A shares settled for Alexandra Pruner?

For Pruner’s awards, one Class A share is deliverable for each Phantom Class A share that vests. A related condition states settlement occurs upon termination of service as director, other than because of death, disability or retirement, for the referenced grant.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/17/2026 - 04:20 PM Accepted by SEC EDGAR 08/17/2026 - 04:19 PM 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^*

Pruner Alexandra

(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 GP HOLDINGS LP [ PAGP ]

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)
08/13/2026

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
Class A Shares	08/14/2026		M		7,400	A	$0	88,294	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 Class A Shares(1)	(2)	08/14/2026		M			7,400	08/14/2026	08/14/2026	Class A Shares	7,400	$0	0	D
Phantom Class A Shares(1)	(2)	08/13/2026		A		6,150		08/13/2027	(3)	Class A Shares	6,150	$0	6,150	D

Explanation of Responses:

1. Phantom Class A shares granted under Long-Term Incentive Plan (includes associated dividend equivalent rights payable in cash).

2. One Class A share is deliverable for each Phantom Class A share that vests.

3. Upon termination of service as director, other than because of death, disability or retirement.

	/s/ Ann F. Gullion, as attorney-in-fact for Reporting Person	08/17/2026
	** 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)