Company: PAGP
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001104659-25-033938
Chunk: 77

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 77
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 the consent of the participant. The PAGP Plan will expire upon the earlier of the termination of the PAGP Plan by the Board or the Compensation Committee or on the date that no shares remain available under the PAGP Plan for awards. Upon termination of the PAGP Plan, awards then outstanding will continue pursuant to the terms of their grants. Class A shares to be delivered in settlement of awards under the PAGP Plan may be newly issued Class A shares, Class A shares acquired in the open market, Class A shares acquired from any other person, or any combination of the foregoing. Awards Restricted Shares. A restricted share is a Class A share that vests over a period of time and that during such time is subject to forfeiture. The Board or the Compensation Committee will determine the period over which restricted shares granted to participants will vest. The Board or the Compensation Committee, in its discretion, may base its determination upon the achievement of performance metrics. Distributions made on restricted shares may be subjected to the same vesting provisions as the restricted share. If a grantee’s employment or membership on the Board terminates for any reason, the grantee’s restricted shares will be automatically forfeited unless, and to the extent, the Board or the Compensation Committee or the terms of the award agreement provide otherwise. We intend the restricted shares under the PAGP Plan to serve as a means of incentive compensation for performance and not primarily as an opportunity to participate in the equity appreciation of our Class A shares. Therefore, participants will not pay any consideration for the Class A shares they receive, and we will receive no remuneration for the shares. 65 TABLE OF CONTENTS Phantom Shares. A phantom share entitles the grantee to receive a Class A share upon the vesting of the phantom share or, in the discretion of the Board or the Compensation Committee, cash equivalent to the value of a Class A share. The Board or the Compensation Committee will determine the period over which phantom shares granted to participants will vest. The Board or the Compensation Committee, in its discretion, may base its determination upon the achievement of performance metrics. If a grantee’s employment or membership on the Board terminates for any reason, the grantee’s phantom shares will be automatically forfeited unless, and to the extent, the Board or the Compensation Committee or the terms of the award agreement provide otherwise. The Board or the Compensation Committee, in its discretion, may grant DERs with respect to a phantom share. DERs entitle the grantee to receive an amount in cash equal