Form 4: Enterprise Products Partners CFO Daniel Boss Reports Stock Transactions

Daniel Boss, Executive Vice President & CFO of Enterprise Products Partners L.P., reports the vesting and settlement of phantom units and associated tax withholdings.

Summary

• Daniel Boss, the Executive Vice President & CFO of Enterprise Products Partners L.P. (EPD), filed a Form 4 detailing changes in beneficial ownership.
• The transactions occurred on February 16, 2025, and involved the vesting and settlement of phantom units, which are economically equivalent to EPD common units.
• The vesting of phantom units resulted in the acquisition of common units and a simultaneous disposition of units to cover tax liabilities.
• Specifically, phantom units vested in various tranches (20,500, 21,250, 23,125, and 24,250 units) and were settled for an equal number of EPD common units.
• A portion of the acquired common units was then withheld to cover tax obligations at a price of $33.72 per unit.
• Following these transactions, Mr. Boss directly owns a specified number of common units and derivative securities (phantom units) of EPD.

Sentiment

Score: 7

Explanation: The document is a standard SEC filing detailing routine transactions related to executive compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Future Outlook

The document indicates future vesting of phantom units in annual installments through February 16, 2026.

Industry Context

This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded partnerships like Enterprise Products Partners. It reflects the ongoing vesting schedule of previously granted equity awards.

Comparison to Industry Standards

• Equity compensation in the form of phantom units is a common practice among energy infrastructure companies like Enterprise Products Partners to align management's interests with those of unitholders.
• Similar companies such as Kinder Morgan (KMI) and Energy Transfer (ET) also utilize equity-based compensation, including restricted stock units and performance-based awards, with vesting schedules and tax withholding mechanisms.
• The specific vesting terms and tax withholding rates are generally in line with industry practices and regulatory requirements.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a material change in the company's financial position.
• Employees who are granted phantom units benefit from the equity compensation program.

Key Dates

Keywords

Form 4, Beneficial Ownership, Enterprise Products Partners, EPD, Daniel Boss, Phantom Units, Common Units, Vesting, Tax Withholding