Chris R. Chandler - 13 Aug 2026 Form 4 Insider Report for PLAINS ALL AMERICAN PIPELINE LP (PAA)

Reporting relationship: EVP & COO
Issuer ticker: PAA
Reported as of: 13 Aug 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 17 Aug 2026, 18:05:11 UTC
Prior SEC filing: 18 Aug 2025
Source filing: View source filing
Reporting owner signature: /s/ Ann F. Gullion, as attorney-in-fact for Reporting Person

Key filing fact

Chris R. Chandler filed Form 4 for PLAINS ALL AMERICAN PIPELINE LP (PAA) on 17 Aug 2026.

Key facts

This page summarizes Chris R. Chandler's Form 4 filing for PLAINS ALL AMERICAN PIPELINE LP (PAA).
6 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 17 Aug 2026, 18:05.

Change

Previous filing in this sequence was filed on 18 Aug 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001769245 Primary reporting owner

Chandler Chris R.

Relationship: EVP & COO
Address: 333 CLAY STREET, SUITE 1600, HOUSTON
Signature: /s/ Ann F. Gullion, as attorney-in-fact for Reporting Person
Signature date: 17 Aug 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PAA transaction

Common Units

Options Exercise

Transaction value
Shares: +500,000
Change %: +101%
Price: $0.000000^*
Shares after: 993,904
Date: 14 Aug 2026
Ownership: Direct

PAA transaction

Common Units

Options Exercise

Transaction value
Shares: +140,691
Change %: +14%
Price: $0.000000^*
Shares after: 1,134,595
Date: 14 Aug 2026
Ownership: Direct

PAA transaction

Common Units

Tax liability

Transaction value
Shares: -252,112
Change %: -22%
Price: $23.45^*
Shares after: 882,483
Date: 14 Aug 2026
Ownership: Direct

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PAA transaction Derivative

Phantom Units

Options Exercise

Transaction value
Shares: -500,000
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 14 Aug 2026
Ownership: Direct
Underlying class: Common Units
Underlying amount: 500,000
Exercise price
Footnotes: F1, F2

PAA transaction Derivative

Phantom Units

Options Exercise

Transaction value
Shares: -140,691
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 14 Aug 2026
Ownership: Direct
Underlying class: Common Units
Underlying amount: 140,691
Exercise price
Footnotes: F1, F2

PAA transaction Derivative

Phantom Units

Award

Transaction value
Shares: +113,600
Change %
Price: $0.000000^*
Shares after: 113,600
Date: 13 Aug 2026
Ownership: Direct
Underlying class: Common Units
Underlying amount: 113,600
Exercise price
Footnotes: F1, F2, F3, F4, F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

Phantom Units granted under Long-Term Incentive Plan (includes distribution equivalent rights payable in cash).

Footnote F2

One common unit is deliverable, upon vesting, for each Phantom Unit that vests.

Footnote F3

These phantom units will vest as follows: (a) Tranche 1, consisting of 56,800 phantom units, will vest on the August 2029 distribution date assuming continued service through such date; (b) Tranche 2, consisting of 28,400 phantom units (assuming 100% payout at target), will potentially vest on the August 2029 distribution date at a scaled payout range of between 0% to 200% based on PAA's total shareholder return (TSR) over the three-year period ending June 30, 2029 compared to the TSR of a selected peer group (payout based on numeric rank with 100% earned at median and interpolation between ranks, and with payout being subject to reduction by up to 25 basis points, but not below 100%, if actual TSR is negative); and

Footnote F4

(c) Tranche 3, consisting of 28,400 phantom units (assuming 100% payout at target), will potentially vest on the Aug. 2029 distribution date at a scaled payout range of between 0% and 200% based on PAA achieving cumul. distributable cash flow (DCF) per common unit equivalent (CUE) of $9.10 over the 3-year period ending 6/30/29 (with payout equaling 100% at cumul. DCF/CUE over such period of $9.10 and being equal to 0% for cumul. DCF/CUE over such period of $8.19 or lower and 200% for cumul. DCF/CUE over such period of $10.01 or higher), with interpolation btw. such points, and with payout being subject to reduction by 25 basis pts. if PAA's leverage ratio (long term debt to adj. EBITDA as calculated pursuant to PAA's sr. unsecured revolving credit facility) as of 6/30/29 is greater than the leverage ratio that equals the upper end of our then applicable non-rating agency target leverage ratio range.

Footnote F5

DERs associated with Tranche 1 will accrue for the first year and be paid in cash in a lump sum on the August 2029 distribution date; beginning in November 2027, DERs associated with Tranche 1 will be paid quarterly until the phantom units vest or terminate. DERs associated with Tranches 2 and 3 will accrue during the three-year vesting period and be paid in cash in a lump sum on the August 2029 distribution date with respect to each phantom unit that vests, if any, on such date. Any Tranche 2 or Tranche 3 phantom units that are determined to not have vested as of the August 2029 distribution date shall expire as of such date.