Michael Ure - 12 Feb 2024 Form 4 Insider Report for Western Midstream Partners, LP (WES)

Reporting relationship: President & CEO, Director
Issuer ticker: WES
Reported as of: 12 Feb 2024
Net transaction value: -$5,098,572
SEC form: 4
Accepted by SEC: 14 Feb 2024, 18:23:20 UTC
Prior SEC filing: 22 Sep 2023
Next SEC filing: 01 Mar 2024
Source filing: View source filing
Reporting owner signature: /s/ Philip C. Neisel, as attorney-in-fact

Key filing fact

Michael Ure filed Form 4 for Western Midstream Partners, LP (WES) on 14 Feb 2024.

Key facts

This page summarizes Michael Ure's Form 4 filing for Western Midstream Partners, LP (WES).
18 reported transactions and 12 derivative rows are listed below.
Accepted by SEC: 14 Feb 2024, 18:23.

Change

Previous filing in this sequence was filed on 22 Sep 2023.
Current net transaction value: -$5,098,572.

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.

WES transaction

Common Units representing limited partner interests

Options Exercise

Transaction value: $0
Shares: +41,982
Change %: +15%
Price: $0.000000
Shares after: 318,033
Date: 12 Feb 2024
Ownership: Direct

WES transaction

Common Units representing limited partner interests

Tax liability

Transaction value: $470,820
Shares: -16,520
Change %: -5.2%
Price: $28.50
Shares after: 301,513
Date: 12 Feb 2024
Ownership: Direct

WES transaction

Common Units representing limited partner interests

Options Exercise

Transaction value: $0
Shares: +28,901
Change %: +9.6%
Price: $0.000000
Shares after: 330,414
Date: 12 Feb 2024
Ownership: Direct

WES transaction

Common Units representing limited partner interests

Tax liability

Transaction value: $324,130
Shares: -11,373
Change %: -3.4%
Price: $28.50
Shares after: 319,041
Date: 12 Feb 2024
Ownership: Direct

WES transaction

Common Units representing limited partner interests

Options Exercise

Transaction value: $0
Shares: +35,087
Change %: +11%
Price: $0.000000
Shares after: 354,128
Date: 12 Feb 2024
Ownership: Direct

WES transaction

Common Units representing limited partner interests

Tax liability

Transaction value: $393,500
Shares: -13,807
Change %: -3.9%
Price: $28.50
Shares after: 340,321
Date: 12 Feb 2024
Ownership: Direct

WES transaction

Common Units representing limited partner interests

Options Exercise

Transaction value: $0
Shares: +190,979
Change %: +56%
Price: $0.000000
Shares after: 531,300
Date: 13 Feb 2024
Ownership: Direct

WES transaction

Common Units representing limited partner interests

Tax liability

Transaction value: $2,095,961
Shares: -75,151
Change %: -14%
Price: $27.89
Shares after: 456,149
Date: 13 Feb 2024
Ownership: Direct

WES transaction

Common Units representing limited partner interests

Options Exercise

Transaction value: $0
Shares: +165,302
Change %: +36%
Price: $0.000000
Shares after: 621,451
Date: 13 Feb 2024
Ownership: Direct

WES transaction

Common Units representing limited partner interests

Tax liability

Transaction value: $1,814,161
Shares: -65,047
Change %: -10%
Price: $27.89
Shares after: 556,404
Date: 13 Feb 2024
Ownership: Direct

Reported derivative securities

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

WES transaction Derivative

2021 Phantom Units

Options Exercise

Transaction value: $0
Shares: -41,982
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 12 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 41,982
Exercise price
Footnotes: F1, F2

WES transaction Derivative

2022 Phantom Units

Options Exercise

Transaction value: $0
Shares: -28,901
Change %: -50%
Price: $0.000000
Shares after: 28,902
Date: 12 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 28,901
Exercise price
Footnotes: F3, F4

WES transaction Derivative

2023 Phantom Units

Options Exercise

Transaction value: $0
Shares: -35,087
Change %: -33%
Price: $0.000000
Shares after: 70,176
Date: 12 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 35,087
Exercise price
Footnotes: F3, F4

WES transaction Derivative

2021 Performance Unit - ROA

Options Exercise

Transaction value: $0
Shares: -190,979
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 13 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 190,979
Exercise price
Footnotes: F5

WES transaction Derivative

2021 Performance Unit - TUR

Options Exercise

Transaction value: $0
Shares: -165,302
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 13 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 165,302
Exercise price
Footnotes: F5

WES transaction Derivative

2024 Phantom Units

Award

Transaction value: $0
Shares: +150,592
Change %
Price: $0.000000
Shares after: 150,592
Date: 13 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 150,592
Exercise price
Footnotes: F3, F4

WES transaction Derivative

2024 Performance Unit - ROA

Award

Transaction value: $0
Shares: +75,296
Change %
Price: $0.000000
Shares after: 75,296
Date: 13 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 75,296
Exercise price
Footnotes: F5

WES transaction Derivative

2024 Performance Unit - TUR

Award

Transaction value: $0
Shares: +75,296
Change %
Price: $0.000000
Shares after: 75,296
Date: 13 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 75,296
Exercise price
Footnotes: F5

WES holding Derivative

2023 Performance Unit - ROA

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 52,632
Date: 12 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 52,632
Exercise price
Footnotes: F5

WES holding Derivative

2023 Performance Unit - TUR

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 52,632
Date: 12 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 52,632
Exercise price
Footnotes: F5

WES holding Derivative

2022 Performance Unit - ROA

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 43,353
Date: 12 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 43,353
Exercise price
Footnotes: F5

WES holding Derivative

2022 Performance Unit - TUR

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 43,353
Date: 12 Feb 2024
Ownership: Direct
Underlying class: Common Units representing limited partner interests
Underlying amount: 43,353
Exercise price
Footnotes: F5

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote 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

Footnote 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.

Footnote 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.

Footnote 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.

Footnote 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.