UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
−Removed: Recent Issuance of Unregistered Securities
−Removed: On March 5, 2020, we settled our obligations under the Liquidity Option Agreement.
−Removed: As a result, EPD issued 54,807,352 of its common units (the “Liquidity Option Units”) as consideration for our acquisition of 100% of the issued and outstanding capital stock of OTA.
−Removed: For additional information regarding this transaction, see “Other Recent Developments – Settlement of Liquidity Option” within Part I, Item 2 of this quarterly report.
−Removed: The issuance and sale of the Liquidity Option Units was exempt from registration under Section 4(a)(2) of the Securities Act because the transaction did not involve a public offering.
−Removed: Other than as described above, there were no sales of unregistered equity securities during the period ended March 31, 2020.
Issuer Purchases of Equity Securities
−Removed: The following table summarizes our equity repurchase activity during the first quarter of 2020:
+Added: The following table summarizes our equity repurchase activity during the second quarter of 2020:
Dollar Amount
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2019 Buyback Program:
−Removed: February 2020
Vesting of phantom unit awards:
−Removed: February 2020 (2)
−Removed: March 2020 (3)
+Added: June 2020 (3)
In January 2019, we announced the 2019 Buyback Program, which authorized the repurchase of up to $2 billion of EPD’s common units.
Units repurchased under this program during 2020 were cancelled immediately upon acquisition.
−Removed: Of the 4,200,676 phantom unit awards that vested in February 2020 and converted to common units, 1,291,427 units were sold back to us by employees to cover related withholding tax requirements.
+Added: Of the 117,023 phantom unit awards that vested in May 2020 and converted to common units, 30,233 units were sold back to us by employees to cover related withholding tax requirements.
These repurchases are not part of any announced program.
We cancelled these units immediately upon acquisition.
−Removed: Of the 4,262 phantom unit awards that vested in March 2020 and converted to common units, 1,297 units were sold back to us by employees to cover related withholding tax requirements.
+Added: Of the 11,955 phantom unit awards that vested in June 2020 and converted to common units, 2,555 units were sold back to us by employees to cover related withholding tax requirements.
These repurchases are not part of any announced program.
4 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.