James David Johnston - 14 Mar 2025 Form 4 Insider Report for Summit Midstream Corp (SMC)

Role
Executive VP, GC, CCO and Secy
Signature
/s/ James David Johnston
Issuer symbol
SMC
Transactions as of
14 Mar 2025
Net transactions value
-$214,307
Form type
4
Filing time
18 Mar 2025, 20:53:07 UTC
Previous filing
22 Jan 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SMC Common Stock Options Exercise +5,544 +15% 41,729 15 Mar 2025 Direct F1
transaction SMC Common Stock Tax liability $50,544 -1,350 -3.2% $37.44 40,379 15 Mar 2025 Direct F2
transaction SMC Common Stock Options Exercise +4,018 +10% 44,397 15 Mar 2025 Direct F1
transaction SMC Common Stock Tax liability $36,654 -979 -2.2% $37.44 43,418 15 Mar 2025 Direct F2
transaction SMC Common Stock Options Exercise +9,793 +23% 53,211 15 Mar 2025 Direct F1
transaction SMC Common Stock Tax liability $127,109 -3,395 -6.4% $37.44 49,816 15 Mar 2025 Direct F2

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 SMC Corporation Restricted Stock Units Award $0 +13,958 +15% $0.000000 105,908 14 Mar 2025 Common Stock 13,958 Direct F1, F3, F4
transaction SMC Corporation Restricted Stock Units Award $0 +13,958 +13% $0.000000 119,866 14 Mar 2025 Common Stock 13,958 Direct F1, F4, F5
transaction SMC Corporation Restricted Stock Units Options Exercise $0 -5,544 -4.6% $0.000000 114,322 15 Mar 2025 Common Stock 5,544 Direct F1, F4, F6
transaction SMC Corporation Restricted Stock Units Options Exercise $0 -4,018 -3.5% $0.000000 110,304 15 Mar 2025 Common Stock 4,018 Direct F1, F4, F7
transaction SMC Corporation Restricted Stock Units Options Exercise $0 -9,793 -8.9% $0.000000 100,511 15 Mar 2025 Common Stock 9,793 Direct F1, F4, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each corporation restricted stock unit is the economic equivalent of one common stock.
F2 Common stocks being withheld to pay tax liability.
F3 One-third of the corporation restricted stock units (rounded down to the nearest whole number of units, except in the case of the final vesting date) shall vest on each of the first, second and third anniversaries of the March 14, 2025, reference date, subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive distribution equivalent rights ("DERs") for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.
F4 The corporation restricted stock units and associated DERs do not expire. The corporation restricted stock units are settled upon vesting in common stocks (on a one-for-one basis) or in cash, at the discretion of the Issuer.
F5 The corporation restricted stock units shall vest if and to the extent that the corporation restricted stock units are earned during the performance period from January 1, 2025 through December 31, 2027, which will depend on whether the performance criteria are achieved as determined by the committee as soon as reasonably practicable, but no later than sixty (60) days following December 31, 2027, the last day of the Performance Period. The vesting of the corporation restricted stock units is subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive DERs for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.
F6 The final one-third of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, the third anniversary of the March 15, 2022, reference date. The Reporting Person received DERs for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.
F7 The final twenty percent of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, the third anniversary of the March 15, 2022, reference date. The Reporting Person received DERs for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.
F8 One-third of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, and the final one-third of the corporation restricted stock units shall vest on the third anniversary of the March 15, 2023, reference date, subject to continued employment. The Reporting Person received DERs for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.