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Western Midstream Partners, LP — Director's Dealing 2024
Feb 14, 2024
30411_dirs_2024-02-14_70677f99-a47a-4ac0-8688-addbece08778.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: 2024-02-12
Reporting Person: Ure Michael (Director, President & CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-02-12 | Common Units representing limited partner interests | M | 41982 | — | Acquired | 318033 | Direct |
| 2024-02-12 | Common Units representing limited partner interests | F | 16520 | $28.50 | Disposed | 301513 | Direct |
| 2024-02-12 | Common Units representing limited partner interests | M | 28901 | — | Acquired | 330414 | Direct |
| 2024-02-12 | Common Units representing limited partner interests | F | 11373 | $28.50 | Disposed | 319041 | Direct |
| 2024-02-12 | Common Units representing limited partner interests | M | 35087 | — | Acquired | 354128 | Direct |
| 2024-02-12 | Common Units representing limited partner interests | F | 13807 | $28.50 | Disposed | 340321 | Direct |
| 2024-02-13 | Common Units representing limited partner interests | M | 190979 | — | Acquired | 531300 | Direct |
| 2024-02-13 | Common Units representing limited partner interests | F | 75151 | $27.89 | Disposed | 456149 | Direct |
| 2024-02-13 | Common Units representing limited partner interests | M | 165302 | — | Acquired | 621451 | Direct |
| 2024-02-13 | Common Units representing limited partner interests | F | 65047 | $27.89 | Disposed | 556404 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-02-12 | 2021 Phantom Units | $ | M | 41982 | Disposed | Common Units representing limited partner interests (41982) | Direct | |
| 2024-02-12 | 2022 Phantom Units | $ | M | 28901 | Disposed | Common Units representing limited partner interests (28901) | Direct | |
| 2024-02-12 | 2023 Phantom Units | $ | M | 35087 | Disposed | 2026-02-12 | Common Units representing limited partner interests (35087) | Direct |
| 2024-02-13 | 2021 Performance Unit - ROA | $ | M | 190979 | Disposed | 2024-02-12 | Common Units representing limited partner interests (190979) | Direct |
| 2024-02-13 | 2021 Performance Unit - TUR | $ | M | 165302 | Disposed | 2024-02-12 | Common Units representing limited partner interests (165302) | Direct |
| 2024-02-13 | 2024 Phantom Units | $ | A | 150592 | Acquired | 2027-02-12 | Common Units representing limited partner interests (150592) | Direct |
| 2024-02-13 | 2024 Performance Unit - ROA | $ | A | 75296 | Acquired | 2027-02-12 | Common Units representing limited partner interests (75296) | Direct |
| 2024-02-13 | 2024 Performance Unit - TUR | $ | A | 75296 | Acquired | 2027-02-12 | Common Units representing limited partner interests (75296) | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| 2023 Performance Unit - ROA | $ | 2026-02-12 | Common Units representing limited partner interests (52632) | 52632 | Direct |
| 2023 Performance Unit - TUR | $ | 2026-02-12 | Common Units representing limited partner interests (52632) | 52632 | Direct |
| 2022 Performance Unit - ROA | $ | 2025-02-12 | Common Units representing limited partner interests (43353) | 43353 | Direct |
| 2022 Performance Unit - TUR | $ | 2025-02-12 | Common Units representing limited partner interests (43353) | 43353 | Direct |
Footnotes
F1: Each Phantom Unit is the economic equivalent of one WES Common Unit representing limited partnership interests, and upon vesting, entitled to receive a common unit
F2: The phantom units vest in three annual installments beginning one year after the date of grant, and will pay distribution equivalent rights prior to vesting in the form of WES Common Units.
F3: 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.
F4: 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.
F5: 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.