Michael Ure - 12 Feb 2023 Form 4 Insider Report for Western Midstream Partners, LP (WES)

Role
President & CEO, Director
Signature
/s/ Philip C. Neisel, as attorney-in-fact
Issuer symbol
WES
Transactions as of
12 Feb 2023
Net transactions value
-$1,366,484
Form type
4
Filing time
14 Feb 2023, 18:26:37 UTC
Previous filing
16 Nov 2022
Next filing
15 Feb 2023
SEC
View on sec.gov

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 +52,018 +41% $0.000000 179,000 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability $578,228 -20,461 -11% $28.26 158,539 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Options Exercise $0 +41,981 +26% $0.000000 200,520 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability $466,855 -16,520 -8.2% $28.26 184,000 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Options Exercise $0 +28,902 +16% $0.000000 212,902 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability $321,401 -11,373 -5.3% $28.26 201,529 12 Feb 2023 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 2020 Phantom Units Options Exercise $0 -52,018 -100% $0.000000* 0 12 Feb 2023 Common Units representing limited partner interests 52,018 Direct F1, F2
transaction WES 2021 Phantom Units Options Exercise $0 -41,981 -50% $0.000000 41,982 12 Feb 2023 Common Units representing limited partner interests 41,981 Direct F3, F4
transaction WES 2022 Phantom Units Options Exercise $0 -28,902 -33% $0.000000 57,803 12 Feb 2023 Common Units representing limited partner interests 28,902 Direct F1, F5
transaction WES 2023 Phantom Units Award $0 +105,263 $0.000000 105,263 14 Feb 2023 Common Units representing limited partner interests 105,263 Direct F1, F5
transaction WES 2023 Performance Unit - TUR Award $0 +52,632 $0.000000 52,632 14 Feb 2023 Common Units representing limited partner interests 52,632 Direct F6
transaction WES 2023 Performance Unit - ROA Award $0 +52,632 $0.000000 52,632 14 Feb 2023 Common Units representing limited partner interests 52,632 Direct F6
holding WES 2022 Performance Unit - TUR 43,353 12 Feb 2023 Common Units representing limited partner interests 43,353 Direct F6
holding WES 2022 Performance Unit - ROA 43,353 12 Feb 2023 Common Units representing limited partner interests 43,353 Direct F6
holding WES 2021 Performance Unit - TUR 110,201 12 Feb 2023 Common Units representing limited partner interests 110,201 Direct F6
holding WES 2021 Performance Unit - ROA 110,201 12 Feb 2023 Common Units representing limited partner interests 110,201 Direct F6
holding WES 2020 Performance Unit - TUR 46,817 12 Feb 2023 Common Units representing limited partner interests 46,817 Direct F6
holding WES 2020 Performance Unit - ROA 46,817 12 Feb 2023 Common Units representing limited partner interests 46,817 Direct F6
* 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 Each Phantom Unit is the economic equivalent of one WES Common Unit representing limited partnership interests, and upon vesting, entitled to receive a common unit
F4 The phantom units vest in three annual installments beginning one year after the date of grant, and will pay distribution equivalent rights prior to vesting in the form of WES Common Units.
F5 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.
F6 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.