Daniel P. Holderman - 12 Feb 2024 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 2024
Net transactions value: -$127,310
Form type: 4
Filing time: 14 Feb 2024, 18:36:58 UTC
Previous filing: 14 Feb 2023
Next filing: 14 Feb 2025
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	+7,054	+284%	$0.000000	9,536	12 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$52,212	-1,832	-19%	$28.50	7,704	12 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Options Exercise	$0	+10,818	+140%	$0.000000	18,522	12 Feb 2024	Direct
transaction	WES	Common Units representing limited partner interests	Tax liability	$75,098	-2,635	-14%	$28.50	15,887	12 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	2022 Phantom Units	Options Exercise	$0	-7,054	-50%	$0.000000	7,055	12 Feb 2024	Common Units representing limited partner interests	7,054		Direct	F1, F2
transaction	WES	2023 Phantom Units	Options Exercise	$0	-10,818	-33%	$0.000000	21,638	12 Feb 2024	Common Units representing limited partner interests	10,818		Direct	F1, F3
transaction	WES	2024 Phantom Units	Award	$0	+44,819		$0.000000	44,819	13 Feb 2024	Common Units representing limited partner interests	44,819		Direct	F1, F3
transaction	WES	2024 Performance Unit - ROA	Award	$0	+22,409		$0.000000	22,409	13 Feb 2024	Common Units representing limited partner interests	22,409		Direct	F4
transaction	WES	2024 Performance Unit - TUR	Award	$0	+22,409		$0.000000	22,409	13 Feb 2024	Common Units representing limited partner interests	22,409		Direct	F4
holding	WES	2023 Performance Unit - ROA						16,228	12 Feb 2024	Common Units representing limited partner interests	16,228		Direct	F4
holding	WES	2023 Performance Unit - TUR						16,228	12 Feb 2024	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.