Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
Issuer Purchases of Equity Securities
The following table summarizes our equity repurchase activity during the second quarter of 2020:
Period
Total Number
of Units
Purchased
Average
Price Paid
per Unit
Total
Number
Of Units
Purchased
as Part of
2019 Buyback
Program
Remaining
Dollar Amount
of Units
That May
Be Purchased
Under the 2019 Buyback
Program
($ thousands)
2019 Buyback Program: (1)
April 2020
–
$
–
$
1,778,911
May 2020
–
$
–
$
1,778,911
June 2020
–
$
–
$
1,778,911
Vesting of phantom unit awards:
April 2020
–
$
–
n/a
n/a
May 2020 (2)
30,233
$
17.12
n/a
n/a
June 2020 (3)
2,555
$
19.12
n/a
n/a
(1)
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.
(2)
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.
(3)
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. We cancelled these units immediately upon acquisition.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM 4. MINE SAFETY DISCLOSURES.
Not applicable.
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