Form 4: Enterprise Products Partners CFO Acquires Common Units Following EPD IV Liquidation

Daniel Boss, CFO of Enterprise Products Partners, acquired 20,773 common units due to the liquidation of EPD 2018 Unit IV L.P.

Summary

• On April 23, 2024, EPD 2018 Unit IV L.P. (EPD IV) was liquidated.
• Daniel Boss, the Executive Vice President & CFO of Enterprise Products Partners L.P., held a Class B limited partner interest in EPD IV.
• Upon liquidation, Boss's interest automatically converted into the right to receive 20,773 common units representing limited partnership interests in Enterprise Products Partners.
• The conversion was based on Boss's percentage share of Class B limited partner interests in EPD IV immediately prior to the liquidation.
• Following the liquidation and distributions, Boss no longer holds any interest in EPD IV.
• After the transaction, Boss beneficially owns 238,729 common units.
• The transaction was reported on April 25, 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transaction is a result of a pre-planned liquidation and conversion, not necessarily indicative of a strong buy or sell signal. It's a procedural event.

Positives

• The acquisition of common units by a key executive could be seen as a positive signal, indicating confidence in the company's future performance.

Industry Context

Insider transactions are closely monitored as they can provide insights into management's perspective on the company's prospects. This transaction reflects the unwinding of a specific investment vehicle (EPD IV) and its impact on an executive's holdings of the company's common units.

Comparison to Industry Standards

• It's common for executives at publicly traded companies like Enterprise Products Partners to hold and trade company stock or units.
• These transactions are typically disclosed via Form 4 filings with the SEC.
• The size and frequency of these transactions can vary widely depending on the individual's compensation structure, investment strategy, and the specific circumstances of the company.
• Comparable companies such as Kinder Morgan (KMI) and Williams Companies (WMB) also see regular Form 4 filings from their executives.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It primarily reflects a change in the form of ownership for a company executive.

Key Dates