Jeremy L. Goebel - Jan 4, 2023 Form 4 Insider Report for PLAINS GP HOLDINGS LP (PAGP)

Role
EVP & CCO
Signature
/s/ Jeremy L. Goebel
Stock symbol
PAGP
Transactions as of
Jan 4, 2023
Transactions value $
$0
Form type
4
Date filed
1/5/2023, 05:26 PM
Previous filing
Jan 4, 2023
Next filing
Aug 16, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PAGP Class B Units Options Exercise $0 -37.6K -100% $0.00* 0 Jan 4, 2023 Class A Units/Class B Shares 35.4K $0.00 Direct F1
transaction PAGP Class A Units/Class B Shares Options Exercise $0 +35.4K $0.00 35.4K Jan 4, 2023 Class A Shares 35.4K $0.00 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the limited partnership agreement of Plains AAP, L.P. ("AAP"), a holder of vested Class B Units of AAP, (the "Class B Units") may convert (the "Conversion Right"), at any time and from time to time, such Class B Units into Class A Units of AAP (the "Class A Units") and Class B Shares (the "Class B Shares") of Plains GP Holdings, L.P. ("PAGP"), at a conversion ratio of approximately 0.941 Class A Units and Class B Shares for each Class B Unit. The Conversion Right does not expire. On January 4, 2023, the Reporting Person exercised his right to convert 37,552 vested Class B Units into 35,350 Class A Units and Class B shares.
F2 Pursuant to the limited partnership agreement of AAP, Reporting Person has the right, at any time and from time to time, to exchange (the "Exchange Right") his Class A Units, together with a like number of Class B Shares, for Class A Shares of PAGP on a one-for-one basis. The Reporting Person has not yet exercised the Exchange Right; the Exchange Right does not expire.