Plains All American Pipeline Reports Officer/Director Changes
Ticker: PAAPU · Form: 8-K · Filed: Aug 18, 2025 · CIK: 1070423
| Field | Detail |
|---|---|
| Company | Plains All American Pipeline LP (PAAPU) |
| Form Type | 8-K |
| Filed Date | Aug 18, 2025 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $3.00, $3.50, $2.60, $2.80 |
| Sentiment | neutral |
Sentiment: neutral
Topics: officer-changes, director-changes, compensation
Related Tickers: PAA
TL;DR
PAA filed an 8-K for director/officer changes and compensation. Details to follow.
AI Summary
Plains All American Pipeline, L.P. filed an 8-K on August 18, 2025, reporting events as of August 14, 2025. The filing pertains to the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers. Specific details regarding the individuals involved, their roles, and the nature of the compensatory arrangements are not provided in this excerpt.
Why It Matters
Changes in a company's board of directors or executive officers can signal shifts in strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in key personnel and compensation arrangements can indicate internal shifts that may affect the company's future direction and stability.
Key Players & Entities
- Plains All American Pipeline, L.P. (company) — Registrant
- August 14, 2025 (date) — Earliest event reported
- August 18, 2025 (date) — Date of report
- 333 Clay Street, Suite 1600, Houston, Texas 77002 (address) — Principal executive offices
FAQ
What specific officer or director positions were affected by the changes reported in this 8-K?
The filing indicates changes related to 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers,' but does not specify the names or exact positions in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on August 14, 2025.
What is the principal executive office address for Plains All American Pipeline, L.P.?
The principal executive office address is 333 Clay Street, Suite 1600, Houston, Texas 77002.
What is the IRS Employer Identification Number (EIN) for Plains All American Pipeline, L.P.?
The IRS Employer Identification Number (EIN) for Plains All American Pipeline, L.P. is 76-0582150.
What is the SIC code for Plains All American Pipeline, L.P.?
The Standard Industrial Classification (SIC) code for Plains All American Pipeline, L.P. is 4610, which corresponds to PIPE LINES (NO NATURAL GAS).
Filing Stats: 1,287 words · 5 min read · ~4 pages · Grade level 14.5 · Accepted 2025-08-18 17:28:39
Key Financial Figures
- $3.00 — nerated DCF per Common Unit of at least $3.00 on a trailing four-quarter basis; and
- $3.50 — nerated DCF per Common Unit of at least $3.50 per Common Unit. Distribution equival
- $2.60 — nerates DCF per Common Unit of at least $2.60 on a trailing four-quarter basis; and
- $2.80 — nerates DCF per Common Unit of at least $2.80 on a trailing four-quarter basis. The
Filing Documents
- tm2523703d1_8k.htm (8-K) — 39KB
- 0001104659-25-079894.txt ( ) — 202KB
- paa-20250814.xsd (EX-101.SCH) — 3KB
- paa-20250814_lab.xml (EX-101.LAB) — 33KB
- paa-20250814_pre.xml (EX-101.PRE) — 22KB
- tm2523703d1_8k_htm.xml (XML) — 4KB
02
ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Modification of CEO 2018 Promotional Grant Consistent with the desire of the board of directors (the "Board") of PAA GP Holdings LLC ("GP Holdings"), the general partner of Plains All American Pipeline, L.P. ("PAA"), to provide incentive for Willie Chiang, Chief Executive Officer ("CEO") and President, to remain in the CEO role for up to five more years in order to continue pursuing key strategic initiatives and developing and mentoring potential successors, on August 14, 2025, upon the recommendation of the Compensation Committee, the Board approved a five year extension of the expiration date of the long term award granted to Mr. Chiang in August 2018 in connection with his promotion to CEO (the "2018 Promotional Grant"). Specifically, the Board approved an amendment of the 2018 Promotional Grant that extends the expiration date of the 2018 Promotional Grant from October 2025 to October 2030; the remaining terms of the original grant, including the number of units, vesting terms and other provisions, are unchanged. As amended, the key terms of the 2018 Promotional Grant are summarized below: Grant size: 500,000 phantom units. The phantom units will vest (become payable in PAA common units) as follows: o 25% of the phantom units will vest on the first distribution date on which PAA has generated DCF per Common Unit of at least $3.00 on a trailing four-quarter basis; and o 75% will vest on the first distribution date on which PAA has generated DCF per Common Unit of at least $3.50 per Common Unit. Distribution equivalent rights (DERs) associated with the 2018 Promotional Grant have vested or will vest as follows: o One-third vested on the May 2019 distribution date; o One-third will vest on the first distribution date on which PAA generates DCF per Common Unit of at least $2.60 on a trailing fo
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PLAINS ALL AMERICAN PIPELINE, L.P. Date: August 18, 2025 By: PAA GP LLC, its general partner By: Plains AAP, L.P., its sole member By: Plains All American GP LLC, its general partner By: /s/ Richard McGee Name: Richard McGee Title: Executive Vice President 4