Crestview Partners II GP, L.P. 4/A

What Happened
Crestview Partners II GP, L.P. (a 10% owner via affiliated Crestview entities) reported multiple transactions on 2026-04-08 in Select Water Solutions (WTTR). The filing shows two cash sales: 665,983 Class A shares sold at $15.12 each for $10,069,663, and 2,430,240 Class A shares sold at $15.12 each for $36,745,229 — total proceeds of $46,814,892 for 3,096,223 shares. The report also records conversion(s) of 2,430,240 derivative securities/units and related dispositions/redemptions/cancellations as described in the footnotes.

Key Details

• Transaction date: 2026-04-08. Sales prices: $15.12 per share for the reported open-market/private sales.
• Shares sold: 665,983 and 2,430,240 (total 3,096,223) for combined cash proceeds ≈ $46.8M.
• Derivative activity: 2,430,240 units/derivative securities were converted and reported as both acquired (conversion) and disposed (redemption/cancellation) per footnotes.
• Shares owned after transaction: filing notes 3,233,212 Class A shares directly beneficially owned by Crestview II SES B; Crestview Partners II GP may be deemed to beneficially own the Crestview entities’ holdings (see footnotes).
• Notable footnotes: redemption of SES Holdings LLC units in exchange for Class A shares (or cash), cancellation of corresponding Class B shares, and clarification of beneficial ownership and voting/dispositive power among Crestview entities.
• Filing status: This is an AMENDED Form 4. The amendment corrects that Robert V. Delaney, Jr. is not a company director and removes him as a filing person.

Context

• This is institutional/10% owner activity (Crestview entities), not an individual executive’s routine trade; institutional sales can reflect portfolio or liquidity decisions and are not direct statements of management sentiment.
• The filing shows conversion/redemption of redeemable LLC units into Class A shares (and related cancellations) alongside cash sales; the derivatives activity reflects structural changes between units and share holdings rather than a simple option exercise.
• No 10b5-1 plan or late-filing flag is indicated in the provided information.