Plains All American eliminates director designation rights; all board members subject to public election

PLAINS ALL AMERICAN PIPELINE LP

Amendment effective Aug 19, 2021, eliminates Kayne Anderson's legacy right to designate a director without a public vote.
Kevin McCarthy, Kayne Anderson's former designee, appointed to board until PAGP's May 2022 annual meeting and will stand for election.
All GP Holdings board members now subject to public election, building on Feb 2021 changes for management directors.
McCarthy will serve with same rights, duties, and obligations as other non-management directors going forward.
Chairman and CEO Willie Chiang stated the change enhances governance alignment with all investors.

item 5.02 item 5.03 item 7.01 item 9.01

Executive movements

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Appointed

Kevin McCarthy

Director

PAA · PLAINS ALL AMERICAN PIPELINE LP

Effective: 2021-08-19
Filed: August 24, 2021, 7:59 PM ET

The Board also approved the appointment of Kevin McCarthy, Kayne Anderson’s previously designated director to the Board, to serve as a Director until the Plains GP Holdings, L.P. (“PAGP”) Annual Meeting of Shareholders to be held in May 2022, and the nomination of Mr. McCarthy to stand for election at such Annual Meeting.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin McCarthy was appointed as Director at PLAINS ALL AMERICAN PIPELINE LP.

Action: appointed
Role: Director

Exact text from the filing

The Board also approved the appointment of Kevin McCarthy, Kayne Anderson’s previously designated director to the Board, to serve as a Director until the Plains GP Holdings, L.P. (“PAGP”) Annual Meeting of Shareholders to be held in May 2022, and the nomination of Mr. McCarthy to stand for election at such Annual Meeting.

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PLAINS ALL AMERICAN PIPELINE LP filing history →

Source: SEC EDGAR

accession 0001104659-21-108999

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