Form 4 for SMC Summit Midstream Corp
Accepted 2024-08-02 00:00:00 ET · period of report 2024-08-01 · accession 0002024218-24-000015 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2024-08-02 | 2024-08-01 | SMC | Mault William J. | CFO, Executive VP | A - Grant | — | +40.3K | 40.3K | New | — |
| D | 2024-08-02 | 2024-08-01 | SMC | Mault William J. | CFO, Executive VP | A - Grant | — | +97.9K | 97.9K | New | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2024-08-01 | A | A | 40,282 | — | 40,282 | D | — | — | (F3) Pursuant to the Merger, immediately prior to the Effective Time, all outstanding common units representing limited partner interests in the Partnership (the "Common Units") have been converted into the right to receive shares of Common Stock, par value $0.01 per share, of the Corporation. (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. |
| 2 | Derivative | Corporation Restricted Stock Units | 2024-08-01 | A | A | 97,929 | — | 97,929 | D | — · — to — | 97,929 Common Stock | (F4) Pursuant to the Merger, each outstanding phantom unit award granted under the Summit Midstream Partners, LP 2012 Long-Term Incentive Plan, as amended and restated, or the Summit Midstream Partners, LP 2022 Long-Term Incentive Plan, as amended (the "Partnership Phantom Unit Awards"), have been converted into an award of restricted stock units relating to a number of shares of common stock of the Corporation (the "Corporation RSUs") equal to the number of Common Units subject to such Partnership Phantom Unit Award, as of immediately prior to the Effective Time. The Corporation RSUs will be subject to substantially the same terms and conditions as were applicable to the converted Partnership Phantom Unit Awards, including vesting and payment timing provisions, as applicable. |