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Energy Transfer Equity director just picked up 2,500 shares

Richard D Brannon, a director of Energy Transfer Equity, recently acquired 2,500 shares of the company. The buys took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on April 19, 2016. Brannon now owns 40,900 shares of the company. Brannon operates out of Fort Worth, TX. Some additional info was provided as follows:

A grant of 2,500 ETE restricted units awarded to the reporting person upon his appointment to the board of directors of LE GP, LLC the general partner of Energy Transfer Equity, L.P. and his subsequent independence determination. These units will vest 60% on the third anniversary of the grant and 40% on the fifth anniversary of the grant contingent only upon his continued service on the board. On the Conv ersion Date, each Convertible Unit will automatically convert into common units, the number of which will be determined by dividing (a) the Conversion Value (as defined below) on that date by (b) $6.56. The conversion value of each Convertible Unit (the "Conversion Value") on the transaction date is zero, and the Conversion Value will increase each fiscal quarter in an amount equal to $0.285 less the cash distribution actually paid with respect to each Convertible Unit for such quarter (or, if prior to the closing of the Partnership's acquisition of The Williams Companies, Inc., or earlier termination of the merger agreement relating to such acquisition, with respect to each Participating Common Unit (as defined below)). The Series A Convertible Preferred Units (the "Convertible Units") representing limited partner interests in Energy Transfer Equity, L.P. (the "Partnership") will automatically convert on the first business day following the date that is the earliest of (a) May 18, 2018, (b) the date upon which all Convertible Units would be convertible into 136,612,021 common units representing limited partner interests in the Partnership ("common units"), (c) the date of a change of control of the Partnership or (d) the date of a dissolution of the Partnership (the "Conversion Date").

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Regulation FD - April 6, 2016
Entry into a Material Definitive - April 4, 2016
Notice of Exempt Offering of Securities, item 06b - March 23, 2016