MALLETT LEONARD WAYNE 4
4 · Summit Midstream Partners, LP · Filed Mar 25, 2020
Insider Transaction Report
Form 4
MALLETT LEONARD WAYNE
See Remarks.
Transactions
- Award
Phantom Units
2020-03-23+435,527→ 435,527 total→ Common Units (435,527 underlying)
Footnotes (3)
- [F1]Each phantom unit is the economic equivalent of one common unit.
- [F2]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 23, 2020), subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive 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.