Kristen S. Shults - 12 Feb 2023 Form 4 Insider Report for Western Midstream Partners, LP (WES)

Role: SVP & Chief Financial Officer
Signature: /s/ Philip C. Neisel, as attorney-in-fact
Issuer symbol: WES
Transactions as of: 12 Feb 2023
Net transactions value: -$159,980
Form type: 4
Filing time: 14 Feb 2023, 18:28:16 UTC
Previous filing: 04 May 2022
Next filing: 14 Feb 2024
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	+4,610	+82%	$0.000000	10,254	12 Feb 2023	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$31,736	-1,123	-11%	$28.26	9,131	12 Feb 2023	Direct
transaction	WES	Common Units representing limited partner interests	Options Exercise	$0	+3,125	+34%	$0.000000	12,256	12 Feb 2023	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$21,506	-761	-6.2%	$28.26	11,495	12 Feb 2023	Direct
transaction	WES	Common Units representing limited partner interests	Options Exercise	$0	+15,511	+135%	$0.000000	27,006	12 Feb 2023	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$106,738	-3,777	-14%	$28.26	23,229	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	-4,610	-100%	$0.000000^*	0	12 Feb 2023	Common Units representing limited partner interests	4,610		Direct	F1, F2
transaction	WES	2021 Phantom Units	Options Exercise	$0	-3,125	-50%	$0.000000	3,125	12 Feb 2023	Common Units representing limited partner interests	3,125		Direct	F1, F2
transaction	WES	2022 Phantom Units	Options Exercise	$0	-15,511	-33%	$0.000000	31,022	12 Feb 2023	Common Units representing limited partner interests	15,511		Direct	F1, F2
transaction	WES	2023 Phantom Units	Award	$0	+32,456		$0.000000	32,456	14 Feb 2023	Common Units representing limited partner interests	32,456		Direct	F1, F2
transaction	WES	2023 Performance Unit - TUR	Award	$0	+16,228		$0.000000	16,228	14 Feb 2023	Common Units representing limited partner interests	16,228		Direct	F3
transaction	WES	2023 Performance Unit - ROA	Award	$0	+16,228		$0.000000	16,228	14 Feb 2023	Common Units representing limited partner interests	16,228		Direct	F3
holding	WES	2022 Performance Unit - TUR						10,838	12 Feb 2023	Common Units representing limited partner interests	10,838		Direct	F3
holding	WES	2022 Performance Unit - ROA						10,838	12 Feb 2023	Common Units representing limited partner interests	10,838		Direct	F3

* 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 cash on a current basis.
F3	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.