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Equity Compensation Plans (Tables)
 3 Months Ended
Mar. 31, 2012
Equity Compensation Plans  
Summary of equity compensation activity

 

 

 

 

PAA Units (1)

 

 

PNG Units (2)(3)(4)

 

 

 

Units

 

Weighted Average Grant
Date
Fair Value per Unit

 

 

Units

 

Weighted Average Grant
Date
Fair Value per Unit

 

Outstanding, December 31, 2011

 

4.0

 

$

43.53

 

 

0.8

 

$

20.55

 

Granted

 

0.7

 

$

65.63

 

 

0.1

 

$

15.05

 

Vested (5)

 

(0.8

)

$

37.85

 

 

—

 

$

—

 

Outstanding, March 31, 2012

 

3.9

 

$

48.65

 

 

0.9

 

$

17.97

 

 

 

(1)                         Amounts do not include Class B units of Plains AAP, L.P.

(2)                         Amounts do not include Class B units of PNGS GP LLC.

(3)                         Amounts include PNG Transaction Grants.

(4)                         Weighted average grant date fair value per unit for PNG Units outstanding at March 31, 2012, is impacted by the modification of PNG awards during the first quarter of 2012 as discussed above.

(5)                         Approximately 0.2 million PAA units were issued, net of approximately 0.1 million units withheld for taxes, during the three months ended March 31, 2012. The remaining 0.5 million units that vested were settled in cash.
Summary of expense recognized and value of vesting related to outstanding equity compensation awards

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2012

 

2011

 

Equity compensation expense

 

$

39

 

$

20

 

LTIP unit-settled vestings

 

$

24

 

$

—

 

LTIP cash-settled vestings

 

$

36

 

$

—

 

DER cash payments

 

$

2

 

$

1