Business Context and Reporting Period
This Form 8-K is a current report filed by PLAINS GP HOLDINGS LP on November 16, 2017. The filing addresses corporate governance matters specifically regarding the upcoming 2018 Annual Meeting of shareholders.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is non-financial in nature and focuses solely on shareholder meeting procedures.
Material Changes
There are no material financial changes reported. The filing announces that beginning in 2018, the company will hold an annual meeting for Class A, Class B, and Class C shareholders to elect directors. The meeting is intended to be held in May 2018.
Guidance, Outlook, and Corporate Governance
- Shareholder Proposals: Shareholders wishing to submit proposals for inclusion in the 2018 proxy statement under Rule 14a-8 must submit them in writing to the Corporate Secretary by December 15, 2017 (5:00 p.m. Central Time).
- Director Nominations: Eligible shareholders owning 10% or more of outstanding shares (Class A, B, and C combined) may nominate one person for election as a PAGP Eligible Director. Notices must also be received by December 15, 2017 (5:00 p.m. Central Time) and must comply with Section 13.4(c)(ii) of the PAGP Partnership Agreement.
- Meeting Details: The exact date, time, and location of the May 2018 meeting will be provided in the notice mailed to shareholders in advance.
Key Facts for Investor Verification
- Verify the December 15, 2017 deadline for submitting shareholder proposals and director nominations.
- Confirm ownership thresholds (10% or more) required to nominate a director under the PAGP Partnership Agreement.
- Note that the 2018 Annual Meeting is scheduled for May 2018, with specific logistics to be announced later.
- Review the PAGP Partnership Agreement (Exhibit 3.2 to the November 21, 2016 Form 8-K) for detailed nomination procedures.