Form 4: Enterprise Products Partners Director Randa Duncan Williams Reports Transaction in Common Units and Phantom Units

Randa Duncan Williams, a director and 10% owner of Enterprise Products Partners L.P., reports the acquisition and disposal of common units and phantom units, including transactions related to tax liability and vesting of derivative securities.

Summary

• On February 16, 2025, Randa Duncan Williams, a director and 10% owner of Enterprise Products Partners L.P. (EPD), engaged in transactions involving common units and phantom units of EPD.
• Williams acquired 450,000 common units through the exercise or conversion of derivative securities.
• She also disposed of 177,075 common units to cover tax liabilities at a price of $33.72 per unit.
• Following these transactions, Williams directly owns 1,125,057 common units.
• Williams also has indirect ownership through various trusts and entities, including EPCO, EPCO Holdings, and several family trusts.
• The reported transactions also involve phantom units that vest on various dates in the future (2026-2029) and expire upon vesting and settlement in exchange for EPD common units.

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing detailing insider transactions. It doesn't inherently convey positive or negative sentiment.

Future Outlook

The document indicates future vesting dates for phantom units, suggesting continued equity-based compensation for Ms. Williams.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded partnerships like Enterprise Products Partners. It provides transparency into the ownership structure and compensation practices.

Comparison to Industry Standards

• Insider transactions are a normal part of operations for publicly traded companies, including master limited partnerships (MLPs) like Enterprise Products Partners.
• Similar filings are regularly seen from executives and directors at companies like Kinder Morgan (KMI), Energy Transfer (ET), and MPLX (MPLX).
• The vesting schedules and equity-based compensation are also standard practice to align management's interests with those of the unitholders.

Stakeholder Impact

• The transactions provide transparency to unitholders regarding insider activity.
• The disposal of units to cover tax liabilities may have a minor impact on the market price.

Key Dates

Keywords

common units, phantom units, Form 4, Enterprise Products Partners, EPD, Randa Duncan Williams, insider trading, beneficial ownership, derivative securities, transactions