Plains GP Holdings Reports Officer/Director Changes
Ticker: PAGP · Form: 8-K · Filed: Aug 18, 2025 · CIK: 1581990
| Field | Detail |
|---|---|
| Company | Plains Gp Holdings LP (PAGP) |
| 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: PAGP
TL;DR
Plains GP Holdings (PAGP) filed an 8-K for officer/director changes and compensation. Watch for details.
AI Summary
Plains GP Holdings, 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 names, dollar amounts, and precise dates of these changes are not provided in this excerpt.
Why It Matters
Changes in key leadership and compensation structures can signal shifts in company strategy or financial health, impacting investor confidence.
Risk Assessment
Risk Level: medium — Changes in officers and directors, especially if numerous or involving key roles, can indicate internal instability or strategic shifts that may affect future performance.
Key Players & Entities
- PLAINS GP HOLDINGS LP (company) — Registrant
- August 14, 2025 (date) — Earliest event reported
- August 18, 2025 (date) — Filing date
- DELAWARE (jurisdiction) — State of incorporation
- 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,' but the specific names and positions are not detailed in this excerpt.
When were the events reported in this 8-K officially effective?
The earliest event reported was as of August 14, 2025.
What is the primary business of Plains GP Holdings, L.P.?
Plains GP Holdings, L.P. is in the PIPE LINES (NO NATURAL GAS) industry, SIC code 4610.
Where are Plains GP Holdings, L.P.'s principal executive offices located?
The principal executive offices are located at 333 Clay Street, Suite 1600, Houston, Texas 77002.
What is the Commission File Number for Plains GP Holdings, L.P.?
The Commission File Number is 001-36132.
Filing Stats: 1,282 words · 5 min read · ~4 pages · Grade level 14.3 · Accepted 2025-08-18 17:30:16
Key Financial Figures
- $3.00 — ted DCF per PAA 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 PAA Common Unit. Distribution equ
- $2.60 — tes DCF per PAA Common Unit of at least $2.60 on a trailing four-quarter basis; and
- $2.80 — tes DCF per PAA Common Unit of at least $2.80 on a trailing four-quarter basis. The
Filing Documents
- tm2523704d1_8k.htm (8-K) — 37KB
- 0001104659-25-079895.txt ( ) — 200KB
- pagp-20250814.xsd (EX-101.SCH) — 3KB
- pagp-20250814_lab.xml (EX-101.LAB) — 33KB
- pagp-20250814_pre.xml (EX-101.PRE) — 22KB
- tm2523704d1_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 GP Holdings, L.P. ("PAGP"), 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 common units of Plains All American Pipeline, L.P. ("PAA")) as follows: o 25% of the phantom units will vest on the first distribution date on which PAA has generated DCF per PAA 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 PAA 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 PAA C
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 GP HOLDINGS, L.P. Date: August 18, 2025 By: PAA GP LLC, its general partner By: PAA GP Holdings LLC, its general partner By: /s/ Richard McGee Name: Richard McGee Title: Executive Vice President 4