Energy Transfer 2015 Annual Report Download - page 142

Table of Contents
employee director of Sunoco LP during 2015, until his November appointment to our General Partner, and his other compensation does not include
$354,210 of director fees paid in cash by Sunoco LP during 2015.
(7) The amounts shown for Mr. Hennigan reflect the change in present value for all defined benefit pension plans and supplemental executive retirement
plans in which he participated. The applicable disclosure rules require the change in pension value be shown as “$0” if the actual calculation of the
change in pension value is less than zero (., a decrease). The decrease in SCIRP pension value for Mr. Hennigan was $49,762 for 2015. The year-over-
year change in actuarial present value of Mr. Hennigan’s pension benefits under the SCIRP for 2015 was negative because Sunoco, Inc. terminated the
SCIRP on October 31, 2014. Mr. Hennigan elected to receive his accrued SCIRP benefit in the form of a lump sum. Because the estimate of the present
value of his SCIRP benefit at year-end 2014 assumed that Mr. Hennigan (under the Final Average Pay formula) had a 90 percent probability of electing a
lump sum rather than an annuity (which would be transferred to an insurance company with a premium of 47.5%) at December 1, 2015 as part of the plan
termination, the change in actuarial present value from the estimate at year-end 2014 was negative because no such premium was paid, resulting in a
lower present value of his benefit. The year-over-year change in actuarial present value of Mr. Hennigan’s pension benefits for 2013 was negative
because the discount rate used in the assumptions to value the lump sum pension benefit was higher in 2013 than it was in 2012. The assumed higher
rate results in a lower present value of benefits. The decrease in pension value for Mr. Hennigan was $199,350 for 2013. Mr. Hennigan did not have any
above market preferential payments on deferred compensation during 2014, 2014 or 2013.
Grants of Plan-Based Awards Table
Name
Grant Date
All Other Unit
Awards: Number of
Units
(#)
All Other Option
Awards: Number of
Securities Underlying
Options
(#)
Exercise or Base Price of
Option Awards
($ / Unit)
Grant Date Fair Value of
Unit Awards(1)
ETP Unit Awards:
Kelcy L. Warren
N/A
—
—
$ —
$ —
Thomas E. Long
12/9/2015
18,525
—
—
635,778
Martin Salinas, Jr.
N/A
—
—
—
—
Matthew S. Ramsey (2)
12/9/2015
77,190
—
—
2,649,161
Marshall S. (Mackie) McCrea, III
12/9/2015
123,507
—
—
4,238,760
Thomas P. Mason
12/9/2015
29,155
—
—
1,000,600
Michael J. Hennigan
N/A
—
—
—
—
Sunoco Logistics Unit Awards:
Thomas E. Long
12/4/2015
11,208
—
—
288,942
Marshall S. (Mackie) McCrea, III
12/4/2015
93,390
—
—
2,407,594
Thomas P. Mason
12/4/2015
22,046
—
—
568,346
Michael J. Hennigan
12/4/2015
116,750
—
—
3,009,815
Sunoco LP Unit Awards:
Thomas E. Long
12/16/2015
14,125
—
—
522,343
Matthew S. Ramsey (3)
1/2/2015
2,035
—
—
100,000
Thomas P. Mason
12/16/2015
18,523
—
—
684,981
(1) We have computed the grant date fair value of unit awards in accordance with FASB ASC Topic 718, as further described above and in Note 9 to our
consolidated financial statements.
(2) Mr. Ramsey’s also received a Regency unit award of 4,137 Regency units in January 2015, which vested April 29, 2015 in connection with ETP’s
acquisition of Regency.
(3) Mr. Ramsey’s January 2015 unit award from Sunoco LP represents his award as a non-employee director prior to his November appointment with our
General Partner.
Narrative Disclosure to Summary Compensation Table and Grants of the Plan-Based Awards Table
A description of material factors necessary to understand the information disclosed in the tables above with respect to salaries, bonuses, equity awards,
nonqualified deferred compensation earnings, and 401(k) plan contributions can be found in the Compensation Discussion and Analysis that precedes these
tables.
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