Baldridge Don 4
4 · DCP Midstream, LP · Filed Jun 16, 2023
Insider Transaction Report
Form 4
Baldridge Don
Vice President
Transactions
- Disposition to Issuer
Common Units
2023-06-15$41.75/sh−38,353$1,601,238→ 0 total - Disposition to Issuer
Phantom Common Units
2023-06-15−39,750→ 0 total→ Common Units (39,750 underlying) - Disposition to Issuer
Restricted Phantom Units
2023-06-15−24,980→ 0 totalFrom: 2024-02-27Exp: 2024-02-27→ Common Units (24,980 underlying) - Disposition to Issuer
Restricted Phantom Units
2023-06-15−19,010→ 0 totalFrom: 2025-02-27Exp: 2025-02-27→ Common Units (19,010 underlying)
Footnotes (5)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of January 5, 2023 (the "Merger Agreement"), by and among Phillips 66 and DCP Midstream, LP (the "Issuer") and the other parties thereto, Phillips 66 acquired all of the outstanding common units representing limited partnership interests in the Issuer not already held by Phillips 66 or its affiliated entities (the "Public Common Units") via a merger of the Issuer and an indirect, wholly-owned subsidiary of Phillips 66. Pursuant to the Merger Agreement, each Public Common Unit converted into the right to receive $41.75 in cash per Public Common Unit at the effective time of the merger.
- [F2]Each phantom common unit ("PCU") was the economic equivalent of one Issuer common unit.
- [F3]Represented holdings of PCUs that were within the Issuer's executive deferred compensation plan at the effective time of the merger.
- [F4]Each restricted phantom unit ("RPU") was the economic equivalent of one Issuer common unit.
- [F5]Pursuant to the Merger Agreement, each outstanding RPU award was converted at the effective time of the merger into a Phillips 66 restricted stock unit award covering a number of restricted stock units equal to the product of (1) the number of common units subject to the corresponding RPU award, multiplied by (2) the award exchange ratio, rounded up to the nearest whole share. The Phillips 66 restricted stock unit award was issued with the same terms and conditions as were applicable to the RPU award, to the extent practicable.