Mault William J. 4

What Happened

• William J. Mault, Executive Vice President and CFO of Summit Midstream (SMC), had restricted stock units (RSUs/DERs) vest in mid‑March 2026. A total of 29,857 shares were issued on vesting (16,522 + 4,793 + 8,542). To cover tax withholding, 11,751 shares were surrendered/withheld (dispositions reported under code F) for aggregate proceeds of $355,938. The conversion/exercise entries for the vested derivative awards were reported at $0 consideration (M/F codes as appropriate).
• On March 16, 2026, Mault was also granted two tranches of 18,071 corporation restricted stock units (36,142 total) (reported as awards A, $0 listed).

Key Details

• Transaction dates: vesting/conversion reported Mar 13, 2026; new awards reported Mar 16, 2026; Form 4 filed Mar 17, 2026 (within the 2‑business‑day reporting window).
• Tax withholding: 11,751 shares withheld to satisfy tax liability (code F). Reported cash value of withheld shares: $196,946 + $57,157 + $101,835 = $355,938.
• Shares from vesting: 29,857 gross shares issued; net delivered after withholding ≈ 18,106 shares.
• Grants: two new award entries of 18,071 RSUs each (total 36,142). Footnotes indicate varied vesting schedules and performance conditions (see F5–F9).
• Notable footnotes: F2 = common stock withheld for taxes; F3/F4/F6/F7/F8/F9 describe DERs (distribution equivalent rights), vesting schedules, certification at 96.7% of target for an original award and a 3.3% forfeiture of unearned units, and that RSUs may be settled in shares or cash at the issuer’s discretion.

Context

• These filings reflect routine vesting and tax‑withholding activity rather than an open‑market buy or sell. The $0 exercise/settlement amounts reflect conversion/settlement mechanics for RSUs/DERs (code M for conversion of derivatives, F for tax withholding, A for award grants).
• Awards and withheld shares are common forms of executive compensation; they don't, by themselves, indicate the insider's view of the company’s near‑term stock prospects.