Daniel P. Holderman - 12 Feb 2023 Form 4 Insider Report for Western Midstream Partners, LP (WES)

Role: SVP, South Operations
Signature: /s/ Philip C. Neisel, as attorney-in-fact
Issuer symbol: WES
Transactions as of: 12 Feb 2023
Net transactions value: -$29,560
Form type: 4
Filing time: 14 Feb 2023, 18:33:05 UTC
Previous filing: 29 Aug 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	+3,528		$0.000000	3,528	12 Feb 2023	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$29,560	-1,046	-30%	$28.26	2,482	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	2022 Phantom Units	Options Exercise	$0	-3,528	-20%	$0.000000	14,109	12 Feb 2023	Common Units representing limited partner interests	3,528		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, F3
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	F4
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	F4

* 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	The Phantom Units vest in three annual installments 20% on February 12, 2023, 40% on February 12, 2024, and 40% on February 12, 2025, and will pay distribution equivalent rights in cash prior to vesting.
F3	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.
F4	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.