<SEC-DOCUMENT>0001104659-19-032154.txt : 20190528
<SEC-HEADER>0001104659-19-032154.hdr.sgml : 20190528
<ACCEPTANCE-DATETIME>20190528214148
ACCESSION NUMBER:		0001104659-19-032154
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190523
FILED AS OF DATE:		20190528
DATE AS OF CHANGE:		20190528

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RAYMOND JOHN T
		CENTRAL INDEX KEY:			0001186173

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36132
		FILM NUMBER:		19859572

	MAIL ADDRESS:	
		STREET 1:		THE ENERGY & MINERALS GROUP
		STREET 2:		811 MAIN STREET, SUITE 4200
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PLAINS GP HOLDINGS LP
		CENTRAL INDEX KEY:			0001581990
		STANDARD INDUSTRIAL CLASSIFICATION:	PIPE LINES (NO NATURAL GAS) [4610]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		333 CLAY ST
		STREET 2:		SUITE 1600
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002
		BUSINESS PHONE:		713-646-4100

	MAIL ADDRESS:	
		STREET 1:		333 CLAY ST
		STREET 2:		SUITE 1600
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002
</SEC-HEADER>
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            <rptOwnerName>RAYMOND JOHN T</rptOwnerName>
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            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77019</rptOwnerZipCode>
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    <footnotes>
        <footnote id="F1">Pursuant to the limited partnership agreement of Plains AAP, L.P. (&quot;AAP&quot;), each limited partner of AAP, including EMG Investment, LLC (&quot;EMG&quot;) and the Reporting Person, has the right, at any time and from time to time, to immediately exchange (the &quot;Exchange Right&quot;) its Class A Units (&quot;Class A Units&quot;) in AAP, together with a like number of Class B shares representing limited partner interests (&quot;Class B Shares&quot;) in Plains GP Holdings, L.P. (the &quot;Issuer&quot;) and Units (&quot;GP Units&quot;) in PAA GP Holdings LLC, for Class A shares representing limited partner interests (&quot;Class A Shares&quot;) in the Issuer on a one-for-one basis. The Exchange Right does not expire and may be settled in cash by AAP.</footnote>
        <footnote id="F2">On May 23, 2019, in lieu of exercising the Exchange Right, EMG redeemed, in accordance with its right pursuant to the limited partnership agreement of AAP (the &quot;Redemption Right&quot;), 4,013,478 Class A Units for common units (&quot;PAA Common Units&quot;) of Plains All American Pipeline, L.P. (&quot;PAA&quot;) held by AAP on a one-for-one basis, by delivering such Class A Units to Plains AAP along with the associated Class B Shares and GP Units to the Issuer. Immediately following such redemption, EMG distributed to certain of its members, in-kind and on a pro rata basis based on their ownership interests in EMG, the PAA Common Units received in such redemption.</footnote>
        <footnote id="F3">Each member receiving such PAA Common Units is bound by a lock-up, which restricts the sale of such PAA Common Units (i) in any amount prior to the 61st day following the date of redemption, (ii) in an amount exceeding 1/3 of the PAA Common Units distributed to such Member prior to the 121st day following the date of redemption, and (iii) in an amount exceeding 2/3 of the PAA Common Units distributed to such Member prior to the 181st day following the date of redemption.</footnote>
        <footnote id="F4">On May 23, 2019, EMG distributed to certain of its members, in-kind and on a pro rata basis based on their ownership interests in EMG, bundled interests comprising Class A Units, Class B Shares and GP Units. As part of such distribution, EMG distributed to the Reporting Person, in-kind, bundled interests comprising 8,275,520 Class A Units, Class B Shares and GP Units. Pursuant to the limited partnership agreement of AAP, the members to whom such bundled interests were transferred, including the Reporting Person, will have an Exchange Right and a Redemption Right with respect thereto.</footnote>
        <footnote id="F5">Each member receiving such bundled interests is bound by a lock-up, which restricts the sale of PAA Common Units or Class A Shares into which such bundled interests are convertible (i) in any amount prior to the 61st day following the date of redemption, (ii) in an amount exceeding 1/3 of the PAA Common Units or Class A Shares into which the bundled interests distributed to such Member are convertible prior to the 121st day following the date of redemption, and (iii) in an amount exceeding 2/3 of the PAA Common Units or Class A Shares into which the bundled interests distributed to such Member are convertible prior to the 181st day following the date of redemption.</footnote>
        <footnote id="F6">On May 28, 2019, EMG elected to exchange 7,328,291 Class A Units, together with a like number of Class B Shares and GP Units, for Class A Shares on a one-for-one basis pursuant to the Exchange Right. In addition, in lieu of exercising the Exchange Right, EMG requested redemption of 8,179,284 Class A Units in exchange for PAA Common Units on a one-for-one basis pursuant to its Redemption Right. EMG has agreed to sell the Class A Shares and PAA Common Units it will receive pursuant to such election to exchange and request for redemption in multiple transactions exempt from registration under Rule 144 of the Securities Act of 1933, as amended, at a price of $23.10 per Class A Share or PAA Common Unit, as applicable. Following the completion of such sales, EMG will distribute the proceeds thereof to its remaining members on a pro rata basis.</footnote>
        <footnote id="F7">Beneficial ownership of 3,183,216 Class A Units, Class B Shares and GP Units referred to herein is being reported hereunder because the Reporting Person beneficially owns such Class A Units, Class B Shares and GP Units as a result of his ownership of Lynx Holdings I, LLC. Beneficial ownership of the remaining Class A Shares, Class A Units, Class B Shares and GP Units referred to herein is being reported hereunder solely because the Reporting Person may be deemed to beneficially own such Class A Shares, Class A Units, Class B Shares and GP Units as a result of his status as the Chief Executive Officer of the designated manager of EMG. The Reporting Person disclaims beneficial ownership of the securities held by EMG except to the extent of his pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ John T. Raymond</signatureName>
        <signatureDate>2019-05-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
