Matthew B. Sicinski - Feb 7, 2022 Form 3 Insider Report for Summit Midstream Partners, LP (SMLP)

Role: Officer
Signature: /s/ James D. Johnston, Attorney-in-Fact for Matthew B. Sicinski
Stock symbol: SMLP
Transactions as of: Feb 7, 2022
Transactions value $: $0
Form type: 3
Date filed: 2/17/2022, 08:52 AM
Next filing: Mar 16, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	SMLP	Common Units						2.22K	Feb 7, 2022	Direct	F1

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
holding	SMLP	Phantom Units							Feb 7, 2022	Common Units	5.87K	$0.00	Direct	F1, F2, F3, F4
holding	SMLP	Phantom Units							Feb 7, 2022	Common Units	2.6K	$0.00	Direct	F2, F4, F5

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

Explanation of Responses:

Id	Content
F1	On November 9, 2020, the Issuer effected a 1-for-15 reverse unit split (the "Reverse Unit Split"). Pursuant to the Reverse Unit Split, common unitholders received one common unit for every 15 common units owned at the close of business on November 9, 2020. All fractional units created by the Reverse Unit Split were rounded to the nearest whole unit. The common units began trading on a split-adjusted basis on November 10, 2020. After giving effect to the Reverse Unit Split, the number of issued and outstanding common units decreased to 3,774,992.
F2	Each phantom unit is the economic equivalent of one common unit.
F3	One-half of these phantom units shall vest on March 15, 2022 and the remaining one-half of these phantom units shall vest on March 15, 2023, subject to continued employment and accelerated vesting, as provided in the applicable award agreement. The Reporting Person will receive distribution equivalent rights (DERs) for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.
F4	The phantom units and associated DERs do not expire. The phantom units are settled upon vesting in common units (on a one-for-one basis) or in cash, at the discretion of the Issuer.
F5	One-third of the phantom units (rounded down to the nearest whole number of units, except in the case of the final vesting date) shall vest on each of the first, second and third anniversaries of the Reference Date (March 15, 2021), subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive DERs for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the phantom units.

Remarks:

The Reporting Person is Senior Vice President, Chief Accounting Officer of Summit Midstream GP, LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the directors and executive officers of the General Partner.