KAFU Holdings II, L.P. 4
4 · PLAINS ALL AMERICAN PIPELINE LP · Filed Dec 4, 2017
Insider Transaction Report
Form 4
Transactions
- Award
Common Stock
2017-11-30+1,864,218→ 1,864,218 total(indirect: See footnotes) - Exercise/Conversion
Class B Shares/Class A Units/GP Units
2017-11-30−1,864,218→ 19,140,963 total(indirect: See footnotes)Exercise: $0.00→ Common Units (1,864,218 underlying) - Other
Common Stock
2017-11-30−1,864,218→ 0 total(indirect: See footnotes)
Footnotes (4)
- [F1]The Eighth Amended and Restated limited partnership agreement of Plains AAP, L.P. ("AAP") provides that each limited partner holding Class A Units will have the right, subject to certain limitations, to redeem its Class A Units for common units ("Common Units") of Plains All American Pipeline, L.P. (the "Issuer") held by AAP on a one-for-one basis, by delivering Class A Units to AAP with the associated Class B Shares in Plains GP Holdings, L.P. ("PAGP") and GP Units in PAA GP Holdings LLC (if applicable), to PAGP (the "Redemption Right"). The Redemption Right does not expire. On November 30, 2017, KAFU Holdings, L.P., KAFU Holdings II, L.P. and KAFU Holdings (QP), L.P. exercised the Redemption Right with respect to an aggregate 1,864,218 Class A Units.
- [F2]KAFU Holdings (QP), L.P., KAFU Holdings, L.P. and KAFU Holdings II, L.P. (collectively, "KAFU") own an equivalent number of Class A Units, Class B Shares and GP Units. KACALP is the manager of the general partner of KAFU and may be deemed to beneficially own the Class A Units, Class B Shares and GP Units held by KAFU.
- [F3]The reported transactions involve an in-kind distribution to redeeming limited partners of KAFU Holdings (QP), L.P., KAFU Holdings II, L.P. and KAFU Holdings, L.P.
- [F4]In a simultaneous transaction, KAFU exercised the exchange right provided for in the limited partnership agreement of AAP pursuant to which 44,481 Class A Units, Class B Shares and GP Units were exchanged for a like number of PAGP Class A Shares. The number of derivative securities owned reflects both the redemption transaction reported herein and the simultaneous exchange transaction.