Form 4 for PAA PLAINS ALL AMERICAN PIPELINE LP
Accepted 2022-01-03 00:00:00 ET · period of report 2021-12-31 · accession 0001638397-22-000001 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DMI | 2022-01-03 | 2021-12-31 | PAA | KAYNE ANDERSON CAPITAL ADVISORS LP | See remarks | J - Other | $0.00 | 0 | 0 | New | $0 |
| DI | 2022-01-03 | 2021-12-31 | PAA | KAYNE ANDERSON CAPITAL ADVISORS LP | See remarks | M - OptEx | $0.00 | -140.5K | 11.72M | -1% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2021-12-31 | J | A | 140,505 | $0.00 | 140,505 | I See footnotes | — | — | (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 December 31, 2021, KAFU Holdings (QP), L.P. exercised the Redemption Right with respect to an aggregate 140,505 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 managing member of the manager 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. |
| 2 | Common | Common Stock | 2021-12-31 | J | D | 140,505 | $0.00 | 0 | I See footnotes | — | — | (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 December 31, 2021, KAFU Holdings (QP), L.P. exercised the Redemption Right with respect to an aggregate 140,505 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 managing member of the manager 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. |
| 3 | Derivative | Class B Shares/Class A Units/GP Units | 2021-12-31 | M | D | 140,505 | $0.00 | 11,722,210 | I See footnote | $0.00 · — to — | 140,505 Common Units | (F4) In a simultaneous transaction, KAFU exercised the exchange right provided for in the limited partnership agreement of AAP with respect to 29,700 Class A units. As a result, such Class A units were cancelled and 29,700 Common Units of Plains All American Pipeline, L.P. were distributed by AAP to KAFU. The number of derivative securities owned reflects both the redemption transaction reported herein and the simultaneous exchange transaction. (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 December 31, 2021, KAFU Holdings (QP), L.P. exercised the Redemption Right with respect to an aggregate 140,505 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 managing member of the manager of KAFU and may be deemed to beneficially own the Class A Units, Class B Shares and GP Units held by KAFU. |