Michael Ure - Feb 12, 2022 Form 4 Insider Report for Western Midstream Partners, LP (WES)

Role
President & CEO, Director
Signature
/s/ Philip C. Neisel, as attorney-in-fact
Stock symbol
WES
Transactions as of
Feb 12, 2022
Transactions value $
-$865,604
Form type
4
Date filed
2/15/2022, 04:57 PM
Previous filing
Nov 16, 2021
Next filing
Feb 16, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WES Common units representing limited partner interests Options Exercise $0 +52K +69.44% $0.00 127K Feb 12, 2022 Direct
transaction WES Common units representing limited partner interests Tax liability -$415K -15.2K -11.99% $27.27 112K Feb 12, 2022 Direct
transaction WES Common units representing limited partner interests Options Exercise $0 +42K +37.58% $0.00 154K Feb 12, 2022 Direct
transaction WES Common units representing limited partner interests Tax liability -$451K -16.5K -10.75% $27.27 137K Feb 12, 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction WES Phantom Units Options Exercise $0 -52K -50% $0.00 52K Feb 12, 2022 Common units representing limited partner interests 52K Direct F1, F2
transaction WES Phantom Units Options Exercise $0 -42K -33.33% $0.00 84K Feb 12, 2022 Common units representing limited partner interests 42K Direct F1, F3
holding WES 2020 Performance Unit - ROA 46.8K Feb 12, 2022 Common units representing limited partner interests 46.8K $0.00 Direct F4
holding WES 2020 Performance Unit - TUR 46.8K Feb 12, 2022 Common units representing limited partner interests 46.8K $0.00 Direct F4
holding WES 2021 Performance Unit - ROA 110K Feb 12, 2022 Common units representing limited partner interests 110K $0.00 Direct F4
holding WES 2021 Performance Unit - TUR 111K Feb 12, 2022 Common units representing limited partner interests 111K $0.00 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Phantom Unit is the economic equivalent of one WES Common Unit representing limited partnership interests, and upon vesting, will entitle the holder to receive a common unit or, at the discretion of the Board of Directors of the General Partner, cash equal to the Fair Market Value of a Common Unit.
F2 These Phantom Units vest ratably over a three-year period on February 12th of each year, and will pay distribution equivalent rights in the form of WES Common Units on a current basis.
F3 These Phantom Units vest ratably over a three-year period on February 12th of each year, and will pay distribution equivalent rights in cash on a current basis.
F4 Each performance-based unit represents the right to receive, following vesting, between 0% and 200% of one WES Common Unit based upon the achievement of pre-established performance metrics over a 3-year performance period.