KAFU Holdings (QP), L.P. 4
4 · PLAINS ALL AMERICAN PIPELINE LP · Filed Apr 2, 2020
Insider Transaction Report
Form 4
Transactions
- Exercise/Conversion
Class B Shares/Class A Units/GP Units
2020-03-31−61,962→ 15,964,345 total(indirect: See footnotes)Exercise: $0.00→ Common Units (61,962 underlying) - Other
Common Stock
2020-03-31+61,962→ 61,962 total(indirect: See footnotes) - Other
Common Stock
2020-03-31−61,962→ 0 total(indirect: See footnotes)
Footnotes (3)
- [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 March 31, 2020, KAFU Holdings (QP), L.P. exercised the Redemption Right with respect to an aggregate 61,962 Class A Units.
- [F2]KAFU Holdings (QP), L.P. ("KAFU") owns 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.