KAFU Holdings (QP), L.P. 4
4 · PLAINS ALL AMERICAN PIPELINE LP · Filed Oct 1, 2019
Insider Transaction Report
Form 4
Transactions
- Other
Common Stock
2019-09-30+51,913→ 51,913 total(indirect: Ssee footnotes) - Other
Common Stock
2019-09-30−51,913→ 0 total(indirect: Ssee footnotes) - Exercise/Conversion
Class B Shares/Class A Units/GP Units
2019-09-30−51,913→ 16,225,067 total(indirect: Ssee footnotes)Exercise: $0.00→ Common Units (51,913 underlying)
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 September 30, 2019, KAFU Holdings (QP), L.P. exercised the Redemption Right with respect to an aggregate 51,913 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.
- [F4]In a simultaneous transaction, KAFU exercised the exchange right provided for in the limited partnership agreement of AAP pursuant to which 1,248 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.