4//SEC Filing
Summit Midstream Partners, LP 4
Accession 0001558304-17-000026
CIK 0001549922operating
Filed
Mar 16, 8:00 PM ET
Accepted
Mar 17, 1:01 PM ET
Size
30.2 KB
Accession
0001558304-17-000026
Insider Transaction Report
Form 4
Newby Steven J
DirectorSee Remarks
Transactions
- Disposition to Issuer
Distribution Equivalent Rights
2017-03-15−6,335→ 0 totalExercise: $6.71→ Common Units (6,335 underlying) - Exercise/Conversion
Phantom Units
2017-03-15−26,371→ 78,722 total→ Common Units (26,371 underlying) - Award
Phantom Units (DCP)
2017-03-15+3,121→ 3,121 total→ Common Units (3,121 underlying) - Award
Phantom Units (DCP)
2017-03-15+6,239→ 6,239 total→ Common Units (6,239 underlying) - Award
Phantom Units
2017-03-15+86,666→ 86,666 total→ Common Units (86,666 underlying) - Exercise/Conversion
Phantom Units
2017-03-15−12,667→ 18,906 total→ Common Units (12,667 underlying) - Disposition to Issuer
Distribution Equivalent Rights
2017-03-15−12,667→ 0 totalExercise: $4.58→ Common Units (12,667 underlying) - Tax Payment
Common Units
2017-03-15$22.50/sh−10,359$233,078→ 52,812 total - Exercise/Conversion
Phantom Units
2017-03-15−6,335→ 0 total→ Common Units (6,335 underlying) - Award
Phantom Units (DCP)
2017-03-15+12,990→ 12,990 total→ Common Units (12,990 underlying) - Disposition to Issuer
Distribution Equivalent Rights
2017-03-15−26,371→ 0 totalExercise: $2.30→ Common Units (26,371 underlying) - Exercise/Conversion
Common Units
2017-03-15+45,373→ 63,171 total
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, 2014 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, 2017, on the third anniversary of the March 15, 2014 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, 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.
- [F6]One-third of the phantom units subject to the original award agreement vested on March 15, 2017, with the final one-third of the phantom units subject to vesting on the third anniversary of the March 15, 2015 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, 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.
- [F8]One-third of the phantom units subject to the original award agreement vested on March 15, 2017, with the remaining phantom units subject to vesting on the second and third anniversaries of the March 15, 2016 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, 2017), 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 typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001549922
Filing Metadata
- Form type
- 4
- Filed
- Mar 16, 8:00 PM ET
- Accepted
- Mar 17, 1:01 PM ET
- Size
- 30.2 KB