Sicinski Matthew B. 4

What happened

• Matthew B. Sicinski, Senior Vice President and Chief Accounting Officer of Summit Midstream (SMC), reported conversions of vested restricted stock units (derivative conversions) on March 13, 2026 totaling 10,824 shares (6,139 + 1,511 + 3,174). To cover tax withholding, 2,666 shares were surrendered/withheld (1,525 + 368 + 773) at $30.29 per share, generating cash proceeds of about $80,753. Several conversion entries are reported at $0.00 because these were non-cash derivative settlements. On March 16, 2026 he was also recorded as receiving two grants/awards totaling 11,384 corporation restricted stock units (5,692 + 5,692) that are subject to future vesting.

Key details

• Transaction dates: conversions and tax withholding on 2026-03-13; grants on 2026-03-16.
• Tax withholding: 2,666 shares withheld at $30.29 each = $80,753 (reported as disposals under code F).
• Derivative conversions: 10,824 shares converted (reported under code M); some conversion lines show $0.00 because they reflect the non-cash settlement of RSUs/DERs.
• New awards: 11,384 RSUs granted on 3/16/2026 (reported under code A) with vesting schedules/performance conditions per the filing.
• Shares owned after transaction: not specified in the supplied filing data.
• Notable footnotes: withheld shares were used to pay tax liability (F2); reporting person received distribution-equivalent rights (DERs) for RSUs (F3–F6); vesting schedules include time-based and performance-based tranches, and one award was certified at 96.7% of target (3.3% forfeited) (F7–F9).
• Filing timeliness: Form filed 2026-03-17 for transactions on 2026-03-13 — within the standard two business-day window (timely).

Context (what this means for investors)

• This was not an open-market directional trade but routine RSU vesting with a sell/withhold-to-cover tax event. Such withholding/sales to cover taxes are common and do not necessarily signal insider sentiment.
• The filing shows both the settled vested units and newly granted RSUs that remain subject to future vesting and performance conditions.
• Codes: M = derivative exercise/conversion (RSU settlement), F = tax withholding (shares surrendered), A = grant/award.