Company: PAGP
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001104659-25-033938
Chunk: 30

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 30
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. 27

TABLE OF CONTENTS

Shareholder Engagement

| ​ | ​ | ~98% Say on PaySupport at 2024Annual Meeting | ​ | ​ |

At our last annual meeting, approximately 98% of our voting equity holders approved our executive compensation program. Our holders have approved our executive compensation program every year for the last four years with an average approval rate of approximately 98%. Although these “say on pay” votes are advisory and non-binding, our Compensation Committee and Board value the opinions of our unitholders and consider the results of say on pay votes as well as direct feedback received from investors when making future compensation decisions for our Named Executive Officers.

Our investor relations team and members of our senior management team regularly meet with investors and other stakeholders to seek input and feedback on a wide range of topics, including executive compensation. On an annual basis, as part of our ongoing investor outreach and engagement process, we actively solicit feedback from investors regarding our executive compensation programs and other important matters, including our evolving governance practices and sustainability efforts. We refer to the process of receiving and incorporating investor feedback into our decision-making process regarding our executive compensation program as the “feedback loop” that we have developed with our investors over the years. As we strive for continuous improvement, we believe that this feedback loop is critical to maintaining a compensation program and structure that aligns the interests of our executive officers with the interests of our investors. Overall, the design of our 2024 executive compensation program did not materially change relative to 2023. The Compensation Committee and our management team are constantly reviewing the design of our programs to ensure that they remain aligned with investor interests and evolving best practices. We will continue to seek direct input from our investors as part of that process.

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TABLE OF CONTENTS Our Commitment to Pay for Performance Our executive compensation philosophy is focused on a long-term pay for performance culture designed to attract and retain key management talent in a competitive industry and market. Our program combines relatively low base pay (as a percentage of total compensation) with higher variable, at-risk compensation opportunities based on objective and transparent performance requirements. As demonstrated in the graphic below, in 2024, at target, approximately 91% of our CEO’s compensation and approximately 84%, on average, of our other NEOs’ compensation consisted of at-risk compensation. Majority of NEO Pay At-Risk and Performance-Based * The “Other NEOs” graphic excludes Mr. Pefanis. Mr. Pefanis is a co-founder and substantial equity