FOWLER W RANDALL 4

What Happened

• Randall W. Fowler, CEO of Enterprise Products Partners L.P. (EPD), was granted 295,000 units on February 10, 2026. The reported acquisition price is $0.00 because these are derivative awards (phantom units/equivalents), not an open‑market purchase.
• The filing identifies these as phantom or unit-equivalent awards that have economic value tied to EPD common units and will convert into (or be settled in) an equal number of EPD common units upon vesting.

Key Details

• Transaction date: 2026-02-10; Transaction code: A (Grant/award under Rule 16b-3(d)).
• Grant: 295,000 units; reported price: $0.00; total cash exchanged: $0.
• Shares owned after transaction: not specified in the provided data.
• Notable footnotes from the filing:
  • F3: Each phantom unit equals the economic equivalent of one EPD common unit.
  • F4–F8: Portions of the award vest in staggered annual installments (some in 1–4 remaining annual installments beginning Feb 16, 2026, and some beginning Feb 16, 2027) and will be exchanged for an equal number of common units upon vesting.
  • F1: Includes common units from the employee unit purchase plan; F2: reporting person disclaims beneficial ownership of units held by Three Streams Partners, LP; F9: power of attorney on file.
• Filing timeliness: Report filed on the same date as the transaction (2026-02-10), so not indicated as late.

Context

• These are deferred-compensation style phantom unit awards—economic equivalents to common units that convert into units upon vesting—so this is not an immediate market buy or sale. Grants are typically part of executive compensation and do not by themselves signal a near-term trading intent.