Degeyter Brock M 4
4 · Summit Midstream Partners, LP · Filed Mar 17, 2020
Insider Transaction Report
Form 4
Degeyter Brock M
See Remarks
Transactions
- Disposition to Issuer
Distribution Equivalent Rights
2020-03-15−10,370→ 0 totalExercise: $5.59→ Common Units (10,370 underlying) - Exercise/Conversion
Common Units
2020-03-15+45,333→ 135,327 total - Exercise/Conversion
Phantom Units
2020-03-15−10,370→ 0 total→ Common Units (10,370 underlying) - Exercise/Conversion
Phantom Units
2020-03-15−13,661→ 13,661 total→ Common Units (13,661 underlying) - Disposition to Issuer
Distribution Equivalent Rights
2020-03-15−21,302→ 0 totalExercise: $0.99→ Common Units (21,302 underlying) - Exercise/Conversion
Phantom Units
2020-03-15−21,302→ 42,603 total→ Common Units (21,302 underlying) - Disposition to Issuer
Distribution Equivalent Rights
2020-03-15−13,661→ 0 totalExercise: $3.29→ Common Units (13,661 underlying)
Footnotes (5)
- [F1]Each phantom unit is the economic equivalent of one common unit.
- [F2]The final one-third of the phantom units subject to the original award agreement vested on March 15, 2020, on the third anniversary of the March 15, 2017 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.
- [F3]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.
- [F4]One-third of the phantom units subject to the original award agreement vested on March 15, 2020, with the final one-third of the phantom units subject to vesting on the third anniversary of the March 15, 2018 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.
- [F5]One-third of the phantom units subject to the original award agreement vested on March 15, 2020, with the remaining phantom units subject to vesting on the second and third anniversaries of the March 15, 2019 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.