Johnston James David 4
4 · Summit Midstream Partners, LP · Filed Aug 2, 2024
Insider Transaction Report
Form 4
Johnston James David
See remarks below.
Transactions
- Disposition to Issuer
Common Units
2024-08-01−48,201→ 0 total - Disposition to Issuer
Phantom Units
2024-08-01−102,745→ 0 total→ Common Units (102,745 underlying)
Footnotes (4)
- [F1]On August 1, 2024 (the "Effective Time"), in connection with the corporate reorganization of Summit Midstream Partners, LP (the "Partnership"), the Partnership converted from a master limited partnership to a C corporation (the "Corporate Reorganization") through the merger between the Partnership and Summit SMC NewCo, LLC ("Merger Sub"), a wholly-owned subsidiary of Summit Midstream Corporation (the "Corporation"), wherein Merger Sub merged with and into the Partnership (the "Merger"), with the Partnership surviving the Merger as a wholly-owned subsidiary of the Corporation.
- [F2]After the Effective Time, the Reporting Person holds an aggregate 0 common units and phantom units. This total includes phantom units from other tranches with different vesting dates.
- [F3]Each phantom unit is the economic equivalent of one common unit.
- [F4]The phantom units and associated distribution equivalent rights 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 Partnership.