secwatch.observer — SEC 8-K summary
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Issuer:     PLAINS ALL AMERICAN PIPELINE LP (PAA)
CIK:        0001070423
Form:       8-K
Filed at:   2021-08-24T23:59:59+00:00
Accession:  0001104659-21-108999
Event type: other
Sentiment:  positive
Materiality: 0.65
Item codes: 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070423/000110465921108999/0001104659-21-108999-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070423/000110465921108999/tm2125729d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-108999

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