Michael Ure - 12 Feb 2024 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 2024
Net transactions value: -$5,098,572
Form type: 4
Filing time: 14 Feb 2024, 18:23:20 UTC
Previous filing: 22 Sep 2023
Next filing: 01 Mar 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	+41,982	+15%	$0.000000	318,033	12 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$470,820	-16,520	-5.2%	$28.50	301,513	12 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Options Exercise	$0	+28,901	+9.6%	$0.000000	330,414	12 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$324,130	-11,373	-3.4%	$28.50	319,041	12 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Options Exercise	$0	+35,087	+11%	$0.000000	354,128	12 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$393,500	-13,807	-3.9%	$28.50	340,321	12 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Options Exercise	$0	+190,979	+56%	$0.000000	531,300	13 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$2,095,961	-75,151	-14%	$27.89	456,149	13 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Options Exercise	$0	+165,302	+36%	$0.000000	621,451	13 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$1,814,161	-65,047	-10%	$27.89	556,404	13 Feb 2024	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	2021 Phantom Units	Options Exercise	$0	-41,982	-100%	$0.000000^*	0	12 Feb 2024	Common Units representing limited partner interests	41,982		Direct	F1, F2
transaction	WES	2022 Phantom Units	Options Exercise	$0	-28,901	-50%	$0.000000	28,902	12 Feb 2024	Common Units representing limited partner interests	28,901		Direct	F3, F4
transaction	WES	2023 Phantom Units	Options Exercise	$0	-35,087	-33%	$0.000000	70,176	12 Feb 2024	Common Units representing limited partner interests	35,087		Direct	F3, F4
transaction	WES	2021 Performance Unit - ROA	Options Exercise	$0	-190,979	-100%	$0.000000^*	0	13 Feb 2024	Common Units representing limited partner interests	190,979		Direct	F5
transaction	WES	2021 Performance Unit - TUR	Options Exercise	$0	-165,302	-100%	$0.000000^*	0	13 Feb 2024	Common Units representing limited partner interests	165,302		Direct	F5
transaction	WES	2024 Phantom Units	Award	$0	+150,592		$0.000000	150,592	13 Feb 2024	Common Units representing limited partner interests	150,592		Direct	F3, F4
transaction	WES	2024 Performance Unit - ROA	Award	$0	+75,296		$0.000000	75,296	13 Feb 2024	Common Units representing limited partner interests	75,296		Direct	F5
transaction	WES	2024 Performance Unit - TUR	Award	$0	+75,296		$0.000000	75,296	13 Feb 2024	Common Units representing limited partner interests	75,296		Direct	F5
holding	WES	2023 Performance Unit - ROA						52,632	12 Feb 2024	Common Units representing limited partner interests	52,632		Direct	F5
holding	WES	2023 Performance Unit - TUR						52,632	12 Feb 2024	Common Units representing limited partner interests	52,632		Direct	F5
holding	WES	2022 Performance Unit - ROA						43,353	12 Feb 2024	Common Units representing limited partner interests	43,353		Direct	F5
holding	WES	2022 Performance Unit - TUR						43,353	12 Feb 2024	Common Units representing limited partner interests	43,353		Direct	F5

* 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, entitled to receive a common unit
F2	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.
F3	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.
F4	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.
F5	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.