Ellis Wendy 4

What Happened

• Wendy Ellis, EVP, General Counsel & Corporate Secretary of DT Midstream (DTM), received an award of 21,597 shares (performance stock units certified by the board’s compensation committee). Simultaneously, 10,324 shares were disposed (withheld/sold) to satisfy tax liability at $132.65 per share, generating $1,369,479. The award shows an acquisition price of $0.00 (grant of earned shares).

Key Details

• Transaction date: February 17, 2026; filing date: February 19, 2026.
• Award: 21,597 shares granted (code A), acquisition price $0.00.
• Tax withholding/disposition: 10,324 shares disposed (code F) at $132.65 each, proceeds $1,369,479.
• Footnote: Shares were earned under performance stock units certified by the Organization and Compensation Committee on Feb 17, 2026.
• Shares owned after the transaction: not reported in this Form 4.
• Filing appears to report the Feb 17 transaction on Feb 19 (within typical Section 16 reporting timeframe).

Context

• This was primarily a compensation vesting event (performance-based award), not an opportunistic open-market sale. The 10,324-share disposition reflects withholding/sale to cover tax liability (common in stock awards), not necessarily a directional investment decision by the insider.
• Approximate market value: using $132.65 per share, the 21,597 awarded shares would be worth roughly $2.86M (this is an estimate based on the reported withholding price).