Key facts
- This page summarizes Gary R. Petersen's Form 4 filing for PLAINS ALL AMERICAN PIPELINE LP (PAA).
- 1 reported transaction and 1 derivative row are listed below.
- Accepted by SEC: 10 Jan 2025, 16:04.
Gary R. Petersen - 07 Jan 2025 Form 4 Insider Report for PLAINS ALL AMERICAN PIPELINE LP (PAA)
- Reporting relationship
- Director
- Issuer ticker
- PAA
- Reported as of
- 07 Jan 2025
- Net transaction value
- -$332,812,200
- SEC form
- 4
- Accepted by SEC
- 10 Jan 2025, 16:04:01 UTC
- Prior SEC filing
- 15 Aug 2024
- Next SEC filing
- 18 Aug 2025
- Source filing
- View source filing
- Reporting owner signature
- /s/ Gary R. Petersen
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Gary R. Petersen filed Form 4 for PLAINS ALL AMERICAN PIPELINE LP (PAA) on 10 Jan 2025.
Change
- Previous filing in this sequence was filed on 15 Aug 2024.
- Current net transaction value: -$332,812,200.
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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
PAA
transaction
Derivative
Series A Convertible Preferred Units
Disposed to Issuer
- Transaction value
- $332,812,200
- Shares
- -12,678,560
- Change %
- -100%
- Price
- $26.25
- Shares after
- 0
- Date
- 07 Jan 2025
- Ownership
- By EnCap Flatrock Midstream Fund III, L.P.
- Underlying class
- Common Units
- Underlying amount
- 12,678,560
- Exercise price
- Footnotes
- F1, F2, F3, F4
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 4 footnotes
Footnote F1
On January 7, 2025, the Issuer entered into a Unit Repurchase Agreement with EnCap Flatrock Midstream Fund III, L.P. ("EFM III"), whereby the Issuer agreed to purchase 12,678,560 Series A Convertible Preferred Units representing limited partner interests in the Issuer (the "Preferred Units") from EFM III. The Preferred Units will be purchased at "par" ($26.25) for a total purchase price of USD $332,812,200, plus accrued unpaid distributions through January 30, 2025 of $10,400,476 (for total consideration of $343,212,676). The transaction is expected to close by the end of January 2025.
Footnote F2
The Preferred Units are perpetual in nature and have no expiration date.
Footnote F3
These securities were directly held by EFM III. Gary R. Petersen was previously deemed the beneficial owner of securities held by EFM III by virtue of being a member of EnCap Partners, LLC, which indirectly controlled EFM III. As the result of an internal reorganization, Mr. Petersen no longer has the power to direct the voting or disposition of the securities held by EFM III and, therefore, is no longer deemed the beneficial owner of such securities. Mr. Petersen disclaims beneficial ownership of the securities held by EFM III.
Footnote F4
In addition, the Reporting Person previously reported beneficial ownership of 12,678,560 Series A Convertible Preferred Units representing limited partner interests in the Issuer that are directly held by EnCap Energy Capital Fund X, L.P. ("EnCap Fund X"). Mr. Petersen was previously deemed the beneficial owner of securities held by EnCap Fund X by virtue of being a member of EnCap Partners, LLC, which indirectly controlled EnCap Fund X. As the result of an internal reorganization, Mr. Petersen no longer has the power to direct the voting or disposition of the securities held by EnCap Fund X and, therefore, is no longer deemed the beneficial owner of such securities. Mr. Petersen disclaims beneficial ownership of the securities held by EnCap Fund X.