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Equity-Indexed Compensation Plan
9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Equity-Indexed Compensation Plan
Equity-Indexed Compensation Plans

We refer to the PAA LTIPs and AAP Management Units collectively as our “equity-indexed compensation plans.” For additional discussion of our equity-indexed compensation plans and awards, see Note 15 to our Consolidated Financial Statements included in Part IV of our 2015 Annual Report on Form 10-K.

During the third quarter of 2016, modifications were made to the vesting criteria of approximately 2.2 million PAA LTIP units to eliminate distribution performance thresholds, if any, greater than $0.70 per common unit per quarter, and provide that such units will vest based solely on the passage of time during the years 2017 to 2020. In addition, approximately 1.7 million PAA LTIP units were granted with a weighted average grant date fair value of $22.85 per unit. 

Modifications were also made to the distribution performance thresholds of approximately 2.2 million unearned AAP Management Units such that the awards will become earned based on the attainment of PAA distribution levels between $2.20 and $2.40 per common unit, on an annualized basis, and additional performance conditions based on our distributable cash flow.