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Western Midstream Partners, LP — Director's Dealing 2023
Feb 14, 2023
30411_dirs_2023-02-14_845075fc-2da1-4e7f-b681-a9bb1dfc795e.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Western Midstream Partners, LP (WES)
CIK: 0001423902
Period of Report: 2023-02-12
Reporting Person: Holderman Daniel P. (SVP, South Operations)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2023-02-12 | Common Units representing limited partner interests | M | 3528 | — | Acquired | 3528 | Direct |
| 2023-02-12 | Common Units representing limited partner interests | F | 1046 | $28.26 | Disposed | 2482 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2023-02-12 | 2022 Phantom Units | $ | M | 3528 | Disposed | Common Units representing limited partner interests (3528.0) | Direct | |
| 2023-02-14 | 2023 Phantom Units | $ | A | 32456 | Acquired | 2026-02-12 | Common Units representing limited partner interests (32456.0) | Direct |
| 2023-02-14 | 2023 Performance Unit - TUR | $ | A | 16228 | Acquired | 2026-02-12 | Common Units representing limited partner interests (16228.0) | Direct |
| 2023-02-14 | 2023 Performance Unit - ROA | $ | A | 16228 | Acquired | 2026-02-12 | Common Units representing limited partner interests (16228.0) | Direct |
Footnotes
F1: Each Phantom Unit is the economic equivalent of one WES Common Unit representing limited partnership interests, and upon vesting, will entitle the holder to receive a common unit or, at the discretion of the Board of Directors of the General Partner, cash equal to the Fair Market Value of a Common Unit.
F2: The Phantom Units vest in three annual installments 20% on February 12, 2023, 40% on February 12, 2024, and 40% on February 12, 2025, and will pay distribution equivalent rights in cash prior to vesting.
F3: These Phantom Units vest ratably over a three-year period on February 12th of each year, and will pay distribution equivalent rights in cash on a current basis.
F4: Each performance-based unit represents the right to receive, following vesting, between 0% and 200% of one WES Common Unit based upon the achievement of pre-established performance metrics over a 3-year performance period.