Hess Corp - Oct 8, 2021 Form 4 Insider Report for Hess Midstream LP (HESM)

Role: Director, 10%+ Owner
Signature: Hess Corporation By: John P. Rielly, Executive Vice President and Chief Financial Officer
Stock symbol: HESM
Transactions as of: Oct 8, 2021
Transactions value $: -$108,312,750
Form type: 4
Date filed: 10/12/2021, 05:09 PM
Previous filing: Aug 10, 2021
Next filing: Apr 6, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HESM	Class A Shares	Conversion of derivative security	$0	+4.31M		$0.00	4.31M	Oct 8, 2021	See footnotes	F1, F2
transaction	HESM	Class A Shares	Sale	-$108M	-4.31M	-100%	$25.12	0	Oct 8, 2021	See footnotes	F1, F2
transaction	HESM	Class B Shares	Other	$0	-4.31M	-3.78%	$0.00	110M	Oct 8, 2021	See footnotes	F2, F3, F4
holding	HESM	Class A Shares						449K	Oct 8, 2021	See footnote	F4

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	HESM	Opco Class B Units	Conversion of derivative security	$0	-4.31M	-3.78%	$0.00	110M	Oct 8, 2021	Class A Shares	4.31M		See Footnotes	F1, F2, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents securities held by Hess Investments North Dakota LLC ("HINDL").
F2	Hess Infrastructure Partners GP LLC is the sole member of Hess Midstream GP LLC, which is the general partner of Hess Midstream LP. Hess Infrastructure Partners GP LLC is a 50/50 joint venture between HINDL and GIP II Blue Holding, L.P. As such, each of the foregoing entities may be deemed to beneficially own the securities held of record by Hess Midstream GP LP. Each such entity disclaims beneficial ownership of such securities except to the extent of their pecuniary interest therein.
F3	Reflects the cancellation for no consideration of Class B Shares in connection with the conversion of the Opco Class B Units into Class A Shares.
F4	Represents securities held by Hess Midstream GP LP. HINDL is an indirect, wholly owned subsidiary of Hess Corporation, a publicly traded company listed on the New York Stock Exchange. As a result, Hess Corporation may be deemed to beneficially own the securities held of record by HINDL and Hess Midstream GP LP. Hess Corporation disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.
F5	The Opco Class B Units may be converted at any time into Class A Shares on a one-to-one basis and have no expiration date.