Plains All American Pipeline, L.P. (NYSE:PAA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February21, 2019, the Board of Directors of PAA GP Holdings LLC (“PAGP GP”), the general partner of Plains GP Holdings, L.P. (“PAGP”) and Plains All American Pipeline, L.P. (the “Registrant” and, collectively with PAGP, “Plains”), approved the appointment, effective March1, 2019, of Chris R. Chandler as Executive Vice President and Chief Operating Officer. Prior to the appointment, Mr.Chandler served as Senior Vice President, Strategic Planning and Acquisitions since joining Plains in May2018. Prior to joining Plains, Mr.Chandler served in a number of leadership roles at Phillips 66, most recently as General Manager – Corporate Strategy, and previously as General Manager – Midstream Commercial and Business Development, as well as numerous leadership roles in refining.
In connection with the appointment, Mr.Chandler’s annual salary will be increased from $375,000 to $400,000. Mr.Chandler’s target annual LTIP award and incentive bonus opportunity as a percentage of base salary will be 250% and 200%, respectively.
Item 5.02. Regulation FD Disclosure.
In accordance with General Instruction B.2 of Form8-K, the information presented under this Item 5.02 shall not be deemed “filed” for the purpose of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, each as amended.
On February25, 2019, the Registrant issued a press release announcing various changes to the Plains senior management team, including Mr.Chandler’s appointment. A copy of the press release is furnished as Exhibit99.1 hereto.
Item 5.02. Financial Statements and Exhibits.
Exhibit99.1 – Press Release dated February25, 2019.
PLAINS ALL AMERICAN PIPELINE LP Exhibit
EX-99.1 2 a19-5369_1ex99d1.htm EX-99.1 Exhibit 99.1 Plains All American Announces Officer Promotions and Retirement February 25,…
To view the full exhibit click here
About Plains All American Pipeline, L.P. (NYSE:PAA)
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Its Transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges. Its Facilities segment operations consist of activities associated with providing storage, terminalling and throughput services for crude oil, refined products, NGL and natural gas, as well as NGL fractionation and isomerization services and natural gas and condensate processing services. Its supply and logistics segment operations consist of the merchant-related activities, including sale of gathered and bulk-purchased crude oil, as well as sales of NGL volumes purchased from suppliers and natural gas sales attributable to the activities.
