4//SEC Filing
Newby Steven J 4
Accession 0001209191-18-020305
CIK 0001549922other
Filed
Mar 15, 8:00 PM ET
Accepted
Mar 16, 5:36 PM ET
Size
32.1 KB
Accession
0001209191-18-020305
Insider Transaction Report
Form 4
Newby Steven J
DirectorSee Remarks
Transactions
- Tax Payment
Common Units
2018-03-15$15.25/sh−5,192$79,178→ 87,102 total - Disposition to Issuer
Distribution Equivalent Rights
2018-03-15−26,371→ 0 totalExercise: $4.60→ Common Units (26,371 underlying) - Exercise/Conversion
Phantom Units
2018-03-15−14,444→ 57,777 total→ Common Units (14,444 underlying) - Award
Phantom Units (DCP)
2018-03-15+6,239→ 12,478 total→ Common Units (6,239 underlying) - Disposition to Issuer
Distribution Equivalent Rights
2018-03-15−12,667→ 0 totalExercise: $6.88→ Common Units (12,667 underlying) - Award
Phantom Units (DCP)
2018-03-15+12,990→ 25,980 total→ Common Units (12,990 underlying) - Exercise/Conversion
Phantom Units
2018-03-15−26,371→ 39,361 total→ Common Units (26,371 underlying) - Award
Phantom Units (DCP)
2018-03-15+14,445→ 14,445 total→ Common Units (14,445 underlying) - Disposition to Issuer
Distribution Equivalent Rights
2018-03-15−14,444→ 0 totalExercise: $2.30→ Common Units (14,444 underlying) - Award
Phantom Units
2018-03-15+101,639→ 101,639 total→ Common Units (101,639 underlying) - Exercise/Conversion
Common Units
2018-03-15+53,482→ 92,294 total - Exercise/Conversion
Phantom Units
2018-03-15−12,667→ 0 total→ Common Units (12,667 underlying)
Footnotes (9)
- [F1]Each phantom unit is the economic equivalent of one common unit.
- [F2]Under the terms of the Summit Midstream Partners, LLC Deferred Compensation Plan (DCP), the Reporting Person has elected to defer a portion of his phantom units (and the accrued DERs) associated with his March 15, 2015 award, and will be entitled to a distribution in Common Units or cash, as determined by the company, upon termination of employment. The Reporting Person is entitled to DERs, providing for payment equal to the distributions from and after grant date of the phantom units.
- [F3]The final one-third of the phantom units subject to the original award agreement vested on March 15, 2018, on the third anniversary of the March 15, 2015 grant date. The Reporting Person received distribution equivalent rights (DERs) for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.
- [F4]The phantom units and associated DERs do not expire. The phantom units are settled upon vesting in common units (on a one-for-one basis) or in cash, at the discretion of the Issuer.
- [F5]Under the terms of the Summit Midstream Partners, LLC Deferred Compensation Plan (DCP), the Reporting Person has elected to defer a portion of his phantom units (and the accrued DERs) associated with his March 15, 2016 award, and will be entitled to a distribution in Common Units or cash, as determined by the company, upon termination of employment. The Reporting Person is entitled to DERs, providing for payment equal to the distributions from and after grant date of the phantom units.
- [F6]One-third of the phantom units subject to the original award agreement vested on March 15, 2018, with the final one-third of the phantom units subject to vesting on the third anniversary of the March 15, 2016 grant date, subject to continued employment. The Reporting Person received distribution equivalent rights (DERs) for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.
- [F7]Under the terms of the Summit Midstream Partners, LLC Deferred Compensation Plan (DCP), the Reporting Person has elected to defer a portion of his phantom units (and the accrued DERs) associated with his March 15, 2017 award, and will be entitled to a distribution in Common Units or cash, as determined by the company, upon termination of employment. The Reporting Person is entitled to DERs, providing for payment equal to the distributions from and after grant date of the phantom units.
- [F8]One-third of the phantom units subject to the original award agreement vested on March 15, 2018, with the remaining phantom units subject to vesting on the second and third anniversaries of the March 15, 2017 grant date, subject to continued employment. The Reporting Person received DERs for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.
- [F9]One-third of the phantom units (rounded down to the nearest whole number of units, except in the case of the final vesting date) shall vest on each of the first, second and third anniversaries of the Grant Date (March 15, 2018), subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive distribution equivalent rights for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.
Documents
Issuer
Summit Midstream Partners, LP
CIK 0001549922
Entity typeother
Related Parties
1- filerCIK 0001558323
Filing Metadata
- Form type
- 4
- Filed
- Mar 15, 8:00 PM ET
- Accepted
- Mar 16, 5:36 PM ET
- Size
- 32.1 KB