Rodney Sailor - Dec 2, 2021 Form 4 Insider Report for Enable Midstream Partners, LP (ENBL)

Role
Chief Executive Officer, Director
Signature
J. Brent Hagy, attorney-in-fact
Stock symbol
ENBL
Transactions as of
Dec 2, 2021
Transactions value $
$0
Form type
4
Date filed
12/2/2021, 05:25 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ENBL Common Units Award $0 +114K +12.32% $0.00 1.04M Dec 2, 2021 Direct F1, F2
transaction ENBL Common Units Award $0 +252K +24.2% $0.00 1.29M Dec 2, 2021 Direct F3
transaction ENBL Common Units Award $0 +371K +28.72% $0.00 1.66M Dec 2, 2021 Direct F4
transaction ENBL Common Units Disposed to Issuer -1.66M -100% 0 Dec 2, 2021 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Rodney Sailor is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents common units to be received with respect to performance awards granted under the Issuer's Long Term Incentive Plan on March 1, 2019. On December 2, 2021, pursuant to the Agreement and Plan of Merger, dated February 16, 2021 (the "Merger Agreement"), (i) a direct wholly owned subsidiary of Energy Transfer LP ("Energy Transfer") merged with and into the Issuer, with the Issuer surviving as a wholly owned subsidiary of Energy Transfer (the "LP Merger"), and (ii) immediately following the LP Merger, another direct wholly owned subsidiary of Energy Transfer merged with and into Enable GP, LLC ("Enable GP"), with Enable GP surviving the merger as a direct wholly owned subsidiary of Energy Transfer (the "GP Merger" and together with the LP Merger, the "Merger").
F2 (Continued from Footnote 1) Pursuant to the Merger Agreement, the achievement of performance criteria under each outstanding performance award of the Issuer granted on March 1, 2019 was determined to be the target level of performance applicable to such performance award as of the date immediately prior to the effective time of the Merger.
F3 Represents common units to be received with respect to performance awards granted under the Issuer's Long Term Incentive Plan on March 2, 2020. Pursuant to the Merger Agreement, the achievement of performance criteria under each outstanding performance award of the Issuer granted on March 2, 2020 was determined to be 113% of target, the level of performance applicable to such performance award as of the date immediately prior to the effective time of the Merger.
F4 Represents common units to be received with respect to performance awards granted under the Issuer's Long Term Incentive Plan on March 3, 2021. Pursuant to the Merger Agreement, the achievement of performance criteria under each outstanding performance award of the Issuer granted on March 3, 2021 was determined to be the target level of performance applicable to such performance award as of the date immediately prior to the effective time of the Merger.
F5 On December 2, 2021, pursuant to the Merger Agreement, (i) each eligible common unit issued and outstanding immediately prior to the effective time of the Merger was converted into the right to receive 0.8595 common units representing limited partnership interests in Energy Transfer (the "Energy Transfer common units"). On December 2, 2021, the closing price of the Energy Transfer common units was $8.32.

Remarks:

The Reporting Person is an officer of Enable GP, the general partner of the issuer. The Issuer is managed by the board of directors and the officers of the general partner.