Plains GP Holdings, L.P. filings document the public-company records of a listed holding entity with indirect interests in Plains All American Pipeline. Disclosures cover PAA's midstream business, including crude oil and natural gas liquids transportation, gathering, storage, terminalling and logistics assets in the United States and Canada.
Forms 8-K and amendments report operating results, material agreements, credit facility amendments, senior note offerings, acquired-business financial statements and pro forma information related to the EPIC Crude Oil Pipeline acquisition. Proxy materials describe annual meeting voting matters, board governance, capital allocation and related shareholder matters, alongside PAGP's Class A securities and capital-structure disclosures.
Plains GP Holdings, L.P. reports that a wholly owned subsidiary of Plains All American Pipeline, L.P. has signed a Purchase and Sale Agreement to acquire a 55% non-operated interest in EPIC Crude Holdings, LP, which owns and operates the EPIC Crude Oil Pipeline. The base purchase price is approximately $1.57 billion, including about $600 million of debt, and there is a potential earnout of roughly $193 million if an expansion of the pipeline to at least 900,000 barrels per day is formally sanctioned before the end of 2027.
EPIC Crude Holdings’ assets include about 800 miles of long-haul crude oil pipelines, operating capacity of over 600,000 barrels per day with low-cost expansion potential, around 7 million barrels of storage, and more than 200,000 barrels per day of export capacity. The remaining 45% interest is held by a portfolio company of Ares Management Corporation, which operates the system. Closing is expected in the first quarter of 2026, subject to customary conditions and regulatory approvals.
Plains GP Holdings reported new long-term incentive grants consisting of phantom units tied to Plains All American Pipeline, L.P. (PAA) common units and associated distribution equivalent rights (DERs). A grant of 500,000 phantom units vests in two performance tranches: 25% when trailing-four-quarter DCF per PAA unit reaches $3.00 and 75% when it reaches $3.50. DERs from a 2018 Promotional Grant vest in thirds at specified DCF hurdles of $2.60 and $2.80 with one-third already vested in May 2019. Grants include accelerated vesting on death, disability, termination without cause, change in control, or board-approved retirement, and unvested units expire on October 1, 2030. Two named grants (Goebel and Chandler) have scheduled service-based vesting dates in August 2030 and August 2028 respectively, with staged DER payment schedules starting August 2026.
Lawrence Michael Ziemba, a director of Plains GP Holdings L.P. (PAGP), reported equity awards and share acquisitions on 08/14/2025. The Form 4 shows two non‑derivative entries that record acquisitions totaling 19,550 Class A shares (7,650 and 11,900) at a reported price of $0. Related derivative entries show Phantom Class A shares granted under the company’s Long‑Term Incentive Plan, each convertible one‑for‑one into Class A shares with associated cash dividend equivalents. An additional award of 7,400 phantom shares vests on 08/14/2026, with forfeiture upon termination of service other than for death, disability or retirement. The reporting person signed the form on 08/18/2025.
Bobby S. Shackouls, a director of Plains GP Holdings LP (PAGP), reported equity awards and resulting ownership changes. On 08/14/2025 he was granted Phantom Class A Shares under the company’s Long-Term Incentive Plan that convert one-for-one into Class A shares when vested and include cash dividend equivalents. Two grants (7,650 and 11,900 Phantom shares) were reported as acquired effective 08/14/2025, and an additional 7,400 Phantom shares were granted on 08/14/2025 that vest on 08/14/2026. After the transactions his reported beneficial ownership of Class A shares totaled 73,401 shares.
John T. Raymond, a director of Plains GP Holdings L.P. (PAGP), reported multiple grant and acquisition transactions dated 08/14/2025. The Form 4 shows non-derivative entries for Class A shares acquired via plan-related transactions (codes M) totaling 19,550 Class A equivalent units across two entries (7,650 and 11,900) recorded at $0, increasing his beneficial ownership to 315,394 Class A shares after the transactions. The filing also discloses phantom Class A share awards under the company’s Long-Term Incentive Plan that convert one-for-one to Class A shares when they vest and include dividend equivalent rights payable in cash. One tranche of phantom shares (7,400) vests on 08/14/2026, with a forfeiture condition upon termination except for death, disability or retirement. The Form is signed on 08/18/2025.
Alexandra Pruner, a director of Plains GP Holdings LP (PAGP), reported equity awards and related acquisitions on 08/14/2025. The filing shows grants of Phantom Class A Shares under the company's Long-Term Incentive Plan with associated dividend-equivalent rights payable in cash. Each Phantom share is deliverable for one Class A share when vested. Transactions reported include acquisitions at $0, and the filing shows 80,894 Class A shares beneficially owned following the reported transactions. One tranche of 7,400 Phantom shares becomes exercisable on 08/14/2026, and certain vesting is subject to termination-of-service conditions described in the filing.
Gary R. Petersen, a director of Plains GP Holdings LP (PAGP), reported awards and acquisitions of Class A and Phantom Class A shares on Form 4. On 08/14/2025 he was shown as acquiring 7,650 and 11,900 Class A shares (transaction code M) at $0, bringing his beneficial ownership to 56,244 and then 68,144 Class A shares respectively. The filing also shows grants of Phantom Class A Shares tied to the companys Long-Term Incentive Plan: 7,650 and 11,900 phantom shares effective 08/14/2025 and an additional 7,400 phantom shares granted 08/14/2025 that vest on 08/14/2026; each phantom share converts into one Class A share when vested and includes dividend equivalent rights payable in cash. The phantom shares include a condition that vesting-related delivery may not occur if his service terminates for reasons other than death, disability or retirement.
Kevin S. McCarthy, a director of Plains GP Holdings L.P. (PAGP), reported awards and acquisitions of Class A economic interests under the company's long-term incentive plan. On 08/14/2025 he was reported to have received two issuances recorded as phantom Class A share awards totaling 19,550 phantom shares (7,650 and 11,900) that each convert one-for-one into Class A shares upon vesting and include dividend-equivalent cash rights. The filings show beneficial ownership of Class A shares rising from 136,791 to 148,691 after the reported transactions.
In addition, a separate grant of 7,400 phantom Class A shares was recorded on 08/14/2025 that becomes exercisable on 08/14/2026, with a forfeiture condition on termination of service other than for death, disability or retirement. All reported phantom awards have a $0 exercise price and are disclosed as direct beneficial ownership. The Form 4 was signed on 08/18/2025.
Ellen DeSanctis, a director of Plains GP Holdings L.P. (PAGP), received awards under the company�s Long-Term Incentive Plan on 08/14/2025. The filing reports grants of 7,650 Phantom Class A Shares (deliverable into one Class A share per phantom share) and 7,400 Phantom Class A Shares that vest on 08/14/2026. After the reported transactions, Ms. DeSanctis beneficially owns 37,100 Class A shares directly.
The phantom shares include associated dividend-equivalent rights payable in cash, and one tranche becomes deliverable on vesting; one tranche is subject to a termination-related vesting condition described in the filing.
Victor Burk, a director of Plains GP Holdings LP (PAGP), reported multiple equity awards and acquisitions on 08/14/2025. The filing shows non-derivative acquisitions of 7,650 and 11,900 Class A shares (transaction code M) that increased his beneficial ownership to 31,023 and 42,923 shares respectively. The filing also reports derivative awards of Phantom Class A shares under the company’s Long-Term Incentive Plan: two grants of 7,650 and 11,900 phantom shares (transaction code M) and a grant of 7,400 phantom shares (transaction code A) that become deliverable as one Class A share per phantom share and carry dividend-equivalent cash rights. The phantom shares vest or become deliverable per the plan, with the 7,400 tranche exercisable/settling on 08/14/2026. The form is signed 08/18/2025.