Form 4: Kinder Morgan President Thomas Martin Sells 18,000 Shares Under 10b5-1 Plan

Kinder Morgan's President, Thomas A. Martin, sold 18,000 shares of Class P Common Stock at an average price of $26.6121 per share on March 5, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• On March 5, 2025, Thomas A. Martin, President of Kinder Morgan, Inc., sold 18,000 shares of Class P Common Stock.
• The sale was executed at a weighted average price of $26.6121 per share, with individual transactions ranging from $26.255 to $26.855.
• The transaction was conducted under a 10b5-1 trading plan adopted on August 2, 2024.
• Following the transaction, Mr. Martin directly owns 825,652 shares of Class P Common Stock.
• Mr. Martin also has indirect ownership of 277,950 shares held in a trust for family members, over which he shares voting and disposition power but disclaims beneficial ownership.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an insider stock sale under a pre-arranged plan. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

Sales by insiders are common and often pre-planned using 10b5-1 trading plans to avoid accusations of trading on inside information. The market typically views these sales in the context of the overall volume and the individual's holdings.

Comparison to Industry Standards

• It is difficult to compare this transaction to industry standards without knowing the specifics of Kinder Morgan's executive compensation and stock ownership guidelines.
• However, sales under 10b5-1 plans are a common practice among executives at publicly traded companies, including competitors like Enbridge (ENB) and TC Energy (TRP).
• The size of the sale (18,000 shares) is relatively small compared to Mr. Martin's total holdings (825,652 shares directly owned), suggesting it is unlikely to be a major concern for investors.

Stakeholder Impact

• The sale of shares by an executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.
• The impact on employees, customers, suppliers, and creditors is likely to be negligible.

Key Dates