Deneke J Heath 4

Accession 0002024218-25-000033

CIK 0002024218other

View on SEC.gov Company Profile

Filed

Mar 17, 8:00 PM ET

Accepted

Mar 18, 8:50 PM ET

Size

32.9 KB

Accession

0002024218-25-000033

Insider Transaction Report

Form 4

Period: 2025-03-14

Summit Midstream CorpSMC

Deneke J Heath

Chairman, President and CEO

Transactions

Exercise/Conversion
Common Stock
2025-03-15+30,015→ 287,981 total
Sale
Common Stock
2025-03-17$38.96/sh−467$18,194→ 275,170 total
Exercise/Conversion
Common Stock
2025-03-15+17,934→ 249,260 total
Sale
Common Stock
2025-03-18$37.99/sh−950$36,091→ 274,220 total
Sale
Common Stock
2025-03-18$38.48/sh−50$1,924→ 274,170 total
Exercise/Conversion
Corporation Restricted Stock Units
2025-03-15−25,993→ 346,325 total
→ Common Stock (25,993 underlying)
Exercise/Conversion
Corporation Restricted Stock Units
2025-03-15−30,015→ 316,310 total
→ Common Stock (30,015 underlying)
Exercise/Conversion
Common Stock
2025-03-15+25,993→ 268,195 total
Tax Payment
Common Stock
2025-03-15$37.44/sh−11,811$442,204→ 276,170 total
Tax Payment
Common Stock
2025-03-15$37.44/sh−7,058$264,252→ 242,202 total
Tax Payment
Common Stock
2025-03-15$37.44/sh−10,229$382,974→ 257,966 total
Sale
Common Stock
2025-03-17$38.09/sh−533$20,302→ 275,637 total
Award
Corporation Restricted Stock Units
2025-03-14+47,624→ 390,252 total
→ Common Stock (47,624 underlying)
Exercise/Conversion
Corporation Restricted Stock Units
2025-03-15−17,934→ 372,318 total
→ Common Stock (17,934 underlying)
Award
Corporation Restricted Stock Units
2025-03-14+47,624→ 342,628 total
→ Common Stock (47,624 underlying)

Footnotes (12)

[F1]Each corporation restricted stock unit is the economic equivalent of one common stock.
[F10]The final one-third of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, the third anniversary of the March 15, 2022, reference date. The Reporting Person received DERs for each corporation restricted stock 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 corporation restricted stock units.
[F11]The final twenty percent of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, the third anniversary of the March 15, 2022, reference date. The Reporting Person received DERs for each corporation restricted stock 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 corporation restricted stock units.
[F12]One-third of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, and the final one-third of the corporation restricted stock units shall vest on the third anniversary of the March 15, 2023, reference date, subject to continued employment. The Reporting Person received DERs for each corporation restricted stock 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 corporation restricted stock units.
[F2]Common stocks being withheld to pay tax liability.
[F3]These Common Stocks were sold in compliance with a qualified selling plan adopted by the reporting person pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
[F4]The price reported in Column 4 is a weighted average price and has been rounded to the nearest cent. These Common Stocks were sold in multiple transactions at prices ranging from $37.76 to $38.66, inclusive. The reporting person undertakes to provide to Summit Midstream Corporation, any security holder of Summit Midstream Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Stocks sold at each separate price within the ranges set forth in footnote 4 to this Form 4.
[F5]The price reported in Column 4 is a weighted average price and has been rounded to the nearest cent. These Common Stocks were sold in multiple transactions at prices ranging from $38.78 to $39.35, inclusive. The reporting person undertakes to provide to Summit Midstream Corporation, any security holder of Summit Midstream Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Stocks sold at each separate price within the ranges set forth in footnote 5 to this Form 4.
[F6]The price reported in Column 4 is a weighted average price and has been rounded to the nearest cent. These Common Stocks were sold in multiple transactions at prices ranging from $37.45 to $38.44, inclusive. The reporting person undertakes to provide to Summit Midstream Corporation, any security holder of Summit Midstream Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Stocks sold at each separate price within the ranges set forth in footnote 6 to this Form 4.
[F7]One-third of the corporation restricted stock 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 March 14, 2025, reference date, subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive distribution equivalent rights ("DERs") for each corporation restricted stock 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 corporation restricted stock units.
[F8]The corporation restricted stock units and associated DERs do not expire. The corporation restricted stock units are settled upon vesting in common stocks (on a one-for-one basis) or in cash, at the discretion of the Issuer.
[F9]The corporation restricted stock units shall vest if and to the extent that the corporation restricted stock units are earned during the performance period from January 1, 2025 through December 31, 2027, which will depend on whether the performance criteria are achieved as determined by the committee as soon as reasonably practicable, but no later than sixty (60) days following December 31, 2027, the last day of the Performance Period. The vesting of the corporation restricted stock units is subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive DERs for each corporation restricted stock 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 corporation restricted stock units.

Documents

1 file

4
wk-form4_1742345407.xmlPrimary
FORM 4

Issuer

Summit Midstream Corp

CIK 0002024218

→

Entity typeother

Related Parties

filerCIK 0001555671

Filing Metadata

Form type: 4
Filed: Mar 17, 8:00 PM ET
Accepted: Mar 18, 8:50 PM ET
Size: 32.9 KB

View on SEC.gov