The following table sets forth information regarding the beneficial ownership of our common stock as of February 10, 2017 (unless otherwise indicated) held by:
| • | each person who beneficially owns 5% or more of our the then outstanding shares of common stock; |
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| • | each of our named executive officers; |
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| • | each of our directors; and |
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| • | all of our executive officers and directors as a group. |
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On February 17, 2016, TRC completed the TRC/TRP Merger, pursuant to which TRC acquired indirectly all of the Partnership outstanding common units that TRC and its subsidiaries did not already own. As a result of the TRC/TRP Merger, TRC owns all of the outstanding Partnership common units. As of February 10, 2017, none of our directors or executive officers owned any Preferred Shares or Preferred Units.
Beneficial ownership is determined under the rules of the SEC. In general, these rules attribute beneficial ownership of securities to persons who possess sole or shared voting power and/or investment power with respect to those securities and include, among other things, securities that an individual has the right to acquire within 60 days. Unless otherwise indicated, the stockholders identified in the table below have sole voting and investment power with respect to all securities shown as beneficially owned by them. Percentage ownership calculations for any security holder listed in the table below are based on 193,949,450 shares of our common stock outstanding on February 10, 2017.
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| | Targa Resources Corp. | | |
| Name of Beneficial Owner (1) | | Common Stock Beneficially Owned | | Percentage of Common Stock Beneficially Owned |
| The Vanguard Group (2) | | 14,082,373 | | 7.26 |
| Rene R. Joyce (3) | | 1,050,724 | | * |
| Joe Bob Perkins (4) | | 455,285 | | * |
| Michael A. Heim (5) | | 413,467 | | * |
| Jeffrey J. McParland (6) | | 318,369 | | * |
| James W. Whalen (7) | | 598,792 | | * |
| Matthew J. Meloy | | 56,817 | | * |
| Paul W. Chung (8) | | 509,406 | | * |
| Chris Tong (9) | | 85,549 | | * |
| Charles R. Crisp | | 131,443 | | * |
| Ershel C. Redd Jr. | | 14,482 | | * |
| Laura C. Fulton | | 9,515 | | * |
| Waters S. Davis, IV | | 6,799 | | * |
| Robert B. Evans | | 28,606 | | * |
| All directors and executive officers as a group (18 persons) | | 3,832,699 | | 1.98 |
| (1) | Unless otherwise indicated, the address for all beneficial owners in this table is 1000 Louisiana, Suite 4300, Houston, Texas 77002. |
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| (2) | As reported on Schedule 13G/A as of December 31, 2016 and filed with the SEC on February 10, 2017, the business address for The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. |
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| (3) | Shares of common stock beneficially owned by Mr. Joyce include: (i) 223,759 shares issued to The Rene Joyce 2010 Grantor Retained Annuity Trust, of which Mr. Joyce and his wife are co-trustees and have shared voting and investment power; and (ii) 561,292 shares issued to The Kay Joyce 2010 Family Trust, of which Mr. Joyce’s wife is trustee and has sole voting and investment power. |
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| (4) | Shares of common stock beneficially owned by Mr. Perkins include: (i) 207,370 shares issued to the Perkins Blue House Investments Limited Partnership (“PBHILP”) and (ii) 93 shares held by Mr. Perkins’ wife. Mr. Perkins is the sole member of JBP GP, L.L.C., one of the general partners of the PBHILP. |
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| (5) | Shares of common stock beneficially owned by Mr. Heim include: (i) 124,878 shares issued to The Michael Heim 2009 Family Trust, of which Mr. Heim and his son are co-trustees and have shared voting and investment power; (ii) 81,672 shares issued to The Patricia Heim 2009 Grantor Retained Annuity Trust, of which Mr. Heim and his wife are co-trustees and have shared voting and investment power; (iii) 57,973 shares issued to the Pat Heim 2012 Family Trust, of which Mr. Heim’s wife and son serve as co-trustees and have shared voting and investment power; (iv) 38,400 shares issued to the Heim 2012 Children’s Trust, of which Mr. Heim serves as trustee; and (v) 19,472 shares held by Mr. Heim’s wife. |
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| (6) | Shares of common stock beneficially owned by Mr. McParland include 215,848 shares issued to the Sarah McParland Family Trust, of which Mr. McParland's spouse serves as trustee. |
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| (7) | Shares of common stock beneficially owned by Mr. Whalen include (i) 345,999 shares issued to the Whalen Family Investments Limited Partnership and (ii) 98,000 issued to the Whalen Family Investments Limited Partnership 2. |
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| (8) | Shares of common stock beneficially owned by Mr. Chung include (i) 189,904 shares issued to the Paul Chung 2008 Family Trust, of which Mr. Chung serves as trustee, (ii) 189,904 shares issued to the Helen Chung 2007 Family Trust, of which Mr. Chung's spouse and Mr. Chung's sister-in-law serve as co-trustees. |
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| (9) | Shares of common stock beneficially owned by Mr. Tong include 1,310 shares held by Mr. Tong’s wife. |
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Securities Authorized for Issuance under Equity Compensation Plans
The following table sets forth certain information as of December 31, 2016 regarding our long-term incentive plans, under which our common stock is authorized for issuance to employees, consultants and directors of us, the general partner and their affiliates. Our sole
equity compensation plan, under which we will make equity grants in the future, is our long-term incentive plan, which was approved by our stockholders prior to our initial public offering.
| Plan category | | Number of securities to be issued upon exercise of outstanding options, warrants and rights | | Weighted average exercise price of outstanding options, warrants and rights | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) | |
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| | (a) | | (b) | | (c) | |
| Equity compensation plans approved by security holders (1) | | - | | - | | 1,825,639 | |
| Equity compensation plans not approved by security holders (2) | | - | | - | | 32,960 | |
| Total | | - | | - | | 1,858,599 | |
| (1) | Generally, awards of restricted stock and restricted stock units to our officers and employees under the Stock Incentive Plan are subject to vesting over time as determined by the Compensation Committee and, prior to vesting, are subject to forfeiture. Stock incentive plan awards may vest in other circumstances, as approved by the Compensation Committee and reflected in an award agreement. Restricted stock and restricted stock units are issued, subject to vesting, on the date of grant. The Compensation Committee may provide that dividends on restricted stock or restricted stock units are subject to vesting and forfeiture provisions, in which cash such dividends would be held, without interest, until they vest or are forfeited. |
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| (2) | These represent awards available for issuance under Targa Resources Corp. Equity Compensation Plan, which was assumed by us as part of the TRC/TRP Merger. The termination date for this plan was February 7, 2017. |
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