Kristen S. Shults - 02 May 2022 Form 4 Insider Report for Western Midstream Partners, LP (WES)

Role
SVP & Chief Financial Officer
Signature
/s/ Philip C. Neisel, as attorney-in-fact
Issuer symbol
WES
Transactions as of
02 May 2022
Net transactions value
$0
Form type
4
Filing time
04 May 2022, 17:20:58 UTC
Next filing
14 Feb 2023
SEC
View on sec.gov

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 Award $0 +21,676 $0.000000 21,676 02 May 2022 Common units representing limited partner interests 21,676 Direct F1, F2
transaction WES 2022 Performance Unit - TUR Award $0 +10,838 $0.000000 10,838 02 May 2022 Common units representing limited partner interests 10,838 Direct F3
transaction WES 2022 Performance Unit - ROA Award $0 +10,838 $0.000000 10,838 02 May 2022 Common units representing limited partner interests 10,838 Direct F3
* 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 cash on a current basis.
F3 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.