Scott Richard Delmoro - 15 Jun 2023 Form 4 Insider Report for DCP Midstream, LP

Reporting relationship: Interim CFO
Issuer ticker: N/A
Reported as of: 15 Jun 2023
Net transaction value: -$162,510
SEC form: 4
Accepted by SEC: 16 Jun 2023, 13:57:47 UTC
Prior SEC filing: 07 Mar 2023
Source filing: View source filing
Reporting owner signature: /s/ Jenarae N. Garland, as Attorney-in-Fact

Key filing fact

Scott Richard Delmoro filed Form 4 for DCP Midstream, LP on 16 Jun 2023.

Key facts

This page summarizes Scott Richard Delmoro's Form 4 filing for DCP Midstream, LP.
5 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 16 Jun 2023, 13:57.

Change

Previous filing in this sequence was filed on 07 Mar 2023.
Current net transaction value: -$162,510.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

DCP transaction

Common Units

Disposed to Issuer

Transaction value: $151,260
Shares: -3,623
Change %: -100%
Price: $41.75
Shares after: 0
Date: 15 Jun 2023
Ownership: Direct
Footnotes: F1

DCP transaction

Series B Preferred Units

Disposed to Issuer

Transaction value: $11,250
Shares: -450
Change %: -100%
Price: $25.00
Shares after: 0
Date: 15 Jun 2023
Ownership: Direct
Footnotes: F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

DCP transaction Derivative

Phantom Common Units

Disposed to Issuer

Transaction value: $0
Shares: -11,420
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Jun 2023
Ownership: Direct
Underlying class: Common Units
Underlying amount: 11,420
Exercise price
Footnotes: F3, F4

DCP transaction Derivative

Restricted Phantom Units

Disposed to Issuer

Transaction value: $0
Shares: -4,970
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Jun 2023
Ownership: Direct
Underlying class: Common Units
Underlying amount: 4,970
Exercise price
Footnotes: F5, F6

DCP transaction Derivative

Restricted Phantom Units

Disposed to Issuer

Transaction value: $0
Shares: -3,980
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Jun 2023
Ownership: Direct
Underlying class: Common Units
Underlying amount: 3,980
Exercise price
Footnotes: F5, F6

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote F1

Pursuant to the Agreement and Plan of Merger, dated as of January 5, 2023 (the "Merger Agreement"), by and among Phillips 66 and DCP Midstream, LP (the "Issuer") and the other parties thereto, Phillips 66 acquired all of the outstanding common units representing limited partnership interests in the Issuer not already held by Phillips 66 or its affiliated entities (the "Public Common Units") via a merger of the Issuer and an indirect, wholly-owned subsidiary of Phillips 66. Pursuant to the Merger Agreement, each Public Common Unit converted into the right to receive $41.75 in cash per Public Common Unit at the effective time of the merger.

Footnote F2

The Issuer redeemed in full its 7.875% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (the "Series B Preferred Units") on June 15, 2023 for $25.00 per redeemed Series B Preferred Unit.

Footnote F3

Each phantom common unit ("PCU") was the economic equivalent of one Issuer common unit.

Footnote F4

Represented holdings of PCUs that were within the Issuer's executive deferred compensation plan at the effective time of the merger.

Footnote F5

Each restricted phantom unit ("RPU") was the economic equivalent of one Issuer common unit.

Footnote F6

Pursuant to the Merger Agreement, each outstanding RPU award was converted at the effective time of the merger into a Phillips 66 restricted stock unit award covering a number of restricted stock units equal to the product of (1) the number of common units subject to the corresponding RPU award, multiplied by (2) the award exchange ratio, rounded up to the nearest whole share. The Phillips 66 restricted stock unit award was issued with the same terms and conditions as were applicable to the RPU award, to the extent practicable.