Slater David 4

What Happened

• David Slater, Executive Chair and CEO of DT Midstream (DTM), had performance stock units (PSUs) certified as vested and received 135,165 shares on February 17, 2026 (acquisition reported at $0.00).
• To satisfy tax and/or exercise-related obligations, 63,190 of those shares were disposed on the same date at $132.65 per share, generating proceeds of about $8,382,154. This is a withholding/cashless-type disposition (transaction code F), not an open-market sale for investment purposes.

Key Details

• Transaction date: February 17, 2026; Form 4 filed February 19, 2026 (timely — within the Form 4 reporting window).
• Award: 135,165 shares (code A), acquisition value reported as $0.00 (these were PSUs certified by the Organization and Compensation Committee — see footnote).
• Withholding/disposition: 63,190 shares sold (code F) at $132.65 each, total ~$8.38M, to cover tax/exercise obligations.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: The 135,165 shares represent PSUs earned and certified by the board committee on Feb 17, 2026.

Context

• This was primarily a vesting of performance-based equity (an award), with a simultaneous share disposition to satisfy tax liabilities — a routine, non-speculative event common when equity grants vest.
• For retail investors, award vesting is informational (reflects compensation realization), while the withholding sale does not necessarily indicate the insider is reducing their broader position for investment reasons.