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CNX Resources Corp — Director's Dealing 2020
Jan 31, 2020
31089_dirs_2020-01-31_52bd5e35-aa86-4781-ae2b-b231ad166990.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: CNX Midstream Partners LP (CNXM)
CIK: 0001610418
Period of Report: 2020-01-29
Reporting Person: CNX Resources Corp (Director, 10% Owner)
Reporting Person: CNX GAS CO LLC (10% Owner)
Reporting Person: CNX Gas Corp (10% Owner)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2020-01-29 | COMMON UNITS (LIMITED PARTNER INTERESTS) | A | 26000000 | — | Acquired | 47692198 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2020-01-29 | CLASS B UNITS (LIMITED PARTNER INTERESTS) | $ | A | 3000000 | Acquired | COMMON UNITS (LIMITED PARTNER INTERESTS) (3000000) | Indirect |
Footnotes
F1: On January 29, 2020, in connection with the closing of the transactions contemplated by the Exchange Agreement dated January 29, 2020, by and among CNX Midstream Partners LP (the "Partnership"), CNX Midstream GP LLC (the "General Partner"), the general partner of the Partnership and an indirect wholly owned subsidiary of CNX Resources Corporation (the "Company"), and CNX Gas Company LLC ("CNX Gas"), CNX Gas acquired from the Partnership 26,000,000 common units representing limited partner interests in the Partnership (the "Common Units") and 3,000,000 Class B units representing limited partner interests in the Partnership (the "Class B Units") in exchange for the cancellation of all of the outstanding incentive distribution rights of the Partnership, which were held by the General Partner, and the conversion of the General Partner's approximately 2% general partner interest in the Partnership into a non-economic interest.
F2: CNX Gas is the record holder of the securities reported herein. CNX Gas is a wholly owned subsidiary of CNX Gas LLC, which is a wholly owned subsidiary of the Company.
F3: The Class B Units will automatically convert into common units on a one-to-one basis on January 1, 2022. Class B Units do not have an expiration date.