PAGP Director Cindy B. Taylor Receives 7,700 Phantom Shares

What Happened Cindy B. Taylor, a director of Plains GP Holdings LP (PAGP), was granted 7,700 Phantom Class A shares on 2026-08-13 as an award/award acquisition under the company's Long‑Term Incentive Plan. The reported acquisition price is $0.00 (derivative grant), so there was no cash purchase or sale. These are phantom (synthetic) shares that may convert to one Class A share each upon vesting and include dividend equivalent rights payable in cash.

Key Details

• Transaction date: 2026-08-13; Form 4 filed: 2026-08-17 (timely within the two-business-day window).
• Reported price: $0.00 (derivative grant); reported amount: 7,700 Phantom Class A shares.
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: Phantom Class A shares granted under the Long‑Term Incentive Plan; include associated dividend equivalent rights payable in cash.
  • F2: One Class A share is deliverable for each Phantom Class A share that vests.
  • F3: Vesting/forfeiture conditions reference termination of service (other than death, disability, or retirement).
• Filing timeliness: Filed on 2026-08-17 for a 2026-08-13 grant — within the standard two business days required for Form 4.

Context This is a compensation grant to a director (routine for non-employee directors) rather than an open‑market purchase or sale. Phantom share awards do not require an immediate cash outlay and do not convert into actual shares until vesting, so they represent potential future economic exposure to the company’s Class A share price and dividends rather than an immediate change in share ownership.