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

Role
President & CEO, Director
Signature
/s/ Philip C. Neisel, as attorney-in-fact
Stock symbol
WES
Transactions as of
Feb 12, 2023
Transactions value $
-$1,366,484
Form type
4
Date filed
2/14/2023, 06:26 PM
Previous filing
Nov 16, 2022
Next filing
Feb 15, 2023

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 +52K +40.96% $0.00 179K Feb 12, 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability -$578K -20.5K -11.43% $28.26 159K Feb 12, 2023 Direct
transaction WES Common Units representing limited partner interests Options Exercise $0 +42K +26.48% $0.00 201K Feb 12, 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability -$467K -16.5K -8.24% $28.26 184K Feb 12, 2023 Direct
transaction WES Common Units representing limited partner interests Options Exercise $0 +28.9K +15.71% $0.00 213K Feb 12, 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability -$321K -11.4K -5.34% $28.26 202K Feb 12, 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 -52K -100% $0.00* 0 Feb 12, 2023 Common Units representing limited partner interests 52K Direct F1, F2
transaction WES 2021 Phantom Units Options Exercise $0 -42K -50% $0.00 42K Feb 12, 2023 Common Units representing limited partner interests 42K Direct F3, F4
transaction WES 2022 Phantom Units Options Exercise $0 -28.9K -33.33% $0.00 57.8K Feb 12, 2023 Common Units representing limited partner interests 28.9K Direct F1, F5
transaction WES 2023 Phantom Units Award $0 +105K $0.00 105K Feb 14, 2023 Common Units representing limited partner interests 105K Direct F1, F5
transaction WES 2023 Performance Unit - TUR Award $0 +52.6K $0.00 52.6K Feb 14, 2023 Common Units representing limited partner interests 52.6K Direct F6
transaction WES 2023 Performance Unit - ROA Award $0 +52.6K $0.00 52.6K Feb 14, 2023 Common Units representing limited partner interests 52.6K Direct F6
holding WES 2022 Performance Unit - TUR 43.4K Feb 12, 2023 Common Units representing limited partner interests 43.4K Direct F6
holding WES 2022 Performance Unit - ROA 43.4K Feb 12, 2023 Common Units representing limited partner interests 43.4K Direct F6
holding WES 2021 Performance Unit - TUR 110K Feb 12, 2023 Common Units representing limited partner interests 110K Direct F6
holding WES 2021 Performance Unit - ROA 110K Feb 12, 2023 Common Units representing limited partner interests 110K Direct F6
holding WES 2020 Performance Unit - TUR 46.8K Feb 12, 2023 Common Units representing limited partner interests 46.8K Direct F6
holding WES 2020 Performance Unit - ROA 46.8K Feb 12, 2023 Common Units representing limited partner interests 46.8K 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.