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

Role
SVP, South Operations
Signature
/s/ Philip C. Neisel, as attorney-in-fact
Stock symbol
WES
Transactions as of
Feb 12, 2023
Transactions value $
-$29,560
Form type
4
Date filed
2/14/2023, 06:33 PM
Previous filing
Aug 29, 2022
Next filing
Feb 14, 2024

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 +3.53K $0.00 3.53K Feb 12, 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability -$29.6K -1.05K -29.65% $28.26 2.48K 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 2022 Phantom Units Options Exercise $0 -3.53K -20% $0.00 14.1K Feb 12, 2023 Common Units representing limited partner interests 3.53K Direct F1, F2
transaction WES 2023 Phantom Units Award $0 +32.5K $0.00 32.5K Feb 14, 2023 Common Units representing limited partner interests 32.5K Direct F1, F3
transaction WES 2023 Performance Unit - TUR Award $0 +16.2K $0.00 16.2K Feb 14, 2023 Common Units representing limited partner interests 16.2K Direct F4
transaction WES 2023 Performance Unit - ROA Award $0 +16.2K $0.00 16.2K Feb 14, 2023 Common Units representing limited partner interests 16.2K 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.