Enfield Holdings Advisors, Inc. - May 14, 2021 Form 4 Insider Report for EnLink Midstream, LLC (ENLC)

Role
10%+ Owner
Signature
/s/ Michael LaGatta, Vice President, Enfield Holdings Advisors, Inc. (6)
Stock symbol
ENLC
Transactions as of
May 14, 2021
Transactions value $
$0
Form type
4
Date filed
5/18/2021, 04:43 PM
Next filing
Aug 6, 2021

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 ENLC Series B Cumulative Convertible Preferred Units Other +151K +0.25% 60.5M May 14, 2021 Common Units 174K See Explanation of Responses F1, F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 14, 2021, (i) EnLink MidStream Partners, LP ("ENLK") issued to Enfield Holdings, L.P. ("Enfield Holdings") 150,871 Series B Cumulative Convertible Preferred Units (the "Series B Preferred Units") as partial payment for the quarterly distribution declared on the Series B Preferred Units, and (ii) EnLink Midstream, LLC (the "Issuer") issued to Enfield Holdings an equal number of Class C Common Units (the "Class C Common Units").
F2 Pursuant to the terms of the Tenth Amended and Restated Agreement of Limited Partnership of ENLK, dated as of January 25, 2019, Enfield Holdings may exchange all or a portion of its Series B Preferred Units (along with a corresponding number of Class C Common Units) at any time for Common Units of the Issuer on a 1-for-1.15 basis, subject to certain adjustments. The right to exchange is not subject to an expiration date.
F3 Enfield Holdings Advisors, Inc. ("Enfield Holdings Advisors" and, together with Enfield Holdings, the "Reporting Persons") is the general partner of Enfield Holdings, which directly holds the Series B Preferred Units and Class C Common Units reported herein.
F4 Affiliates of The Goldman Sachs Group, Inc. and affiliates of TPG Global, LLC own interests in Enfield Holdings Advisors and are making separate Form 4 filings.
F5 Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owners of any equity securities in excess of their respective pecuniary interests.

Remarks:

(6) The Reporting Persons are jointly filing this Form 4 pursuant to Rule 16a-3(j) under the Exchange Act.