---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-079894"
form_type: "8-K"
ticker: "PAA"
cik: "0001070423"
company_name: "PLAINS ALL AMERICAN PIPELINE LP"
filed_at: "2025-08-18T23:59:59+00:00"
generated_at: "2026-05-17T11:45:33.597078+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# PAA extends CEO Chiang's award expiration to 2030; grants special retention units to Goebel and Chandler

## Summary
- CEO Willie Chiang's 2018 Promotional Grant expiration extended from Oct 2025 to Oct 2030; 500,000 phantom units unchanged.
- Jeremy Goebel receives 545,550 phantom units vesting Aug 2030; Chris Chandler receives 327,350 phantom units vesting Aug 2028.
- Grants aim to retain key executives for succession planning beyond Aug 2026 when prior retention grants vest.
- Phantom units vest upon DCF per unit targets: 25% at $3.00, 75% at $3.50; DERs vest on progressive thresholds.

## SEC filing metadata
- accession: 0001104659-25-079894
- form_type: 8-K
- ticker: PAA
- cik: 0001070423
- company_name: PLAINS ALL AMERICAN PIPELINE LP
- filed_at: 2025-08-18T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1070423/000110465925079894/0001104659-25-079894-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070423/000110465925079894/tm2523703d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-079894
- JSON: https://secwatch.observer/filing/0001104659-25-079894.json
- Plain text: https://secwatch.observer/filing/0001104659-25-079894.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.