BlackRock Portfolio Management LLC - 30 May 2025 Form 4 Insider Report for Hess Midstream LP (HESM)

Reporting relationship: 10%+ Owner
Issuer ticker: HESM
Reported as of: 30 May 2025
Net transaction value: -$1,090,909,813
SEC form: 4
Accepted by SEC: 30 May 2025, 16:20:30 UTC
Prior SEC filing: 14 May 2025
Next SEC filing: 03 Jul 2025
Source filing: View source filing
Reporting owner signature: BlackRock Portfolio Management LLC, By: /s/ Julie Ashworth, Authorized Signatory

Key filing fact

BlackRock Portfolio Management LLC filed Form 4 for Hess Midstream LP (HESM) on 30 May 2025.

Key facts

This page summarizes BlackRock Portfolio Management LLC's Form 4 filing for Hess Midstream LP (HESM).
4 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 30 May 2025, 16:20.

Change

Previous filing in this sequence was filed on 14 May 2025.
Current net transaction value: -$1,090,909,813.

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

Reporting Owners (1)

CIK 0002052113 Primary reporting owner

BlackRock Portfolio Management LLC

Relationship: 10%+ Owner
Address: 50 HUDSON YARDS, NEW YORK
Signature: BlackRock Portfolio Management LLC, By: /s/ Julie Ashworth, Authorized Signatory
Signature date: 30 May 2025

Reported non-derivative transactions

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

HESM transaction

Class B Shares

Other

Transaction value: $0
Shares: -14,573,517
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 30 May 2025
Ownership: See footnote
Footnotes: F1, F2

HESM transaction

Class A Shares

Conversion of derivative security

Transaction value: $0
Shares: +14,573,517
Change %
Price: $0.000000
Shares after: 14,573,517
Date: 30 May 2025
Ownership: See footnote
Footnotes: F3

HESM transaction

Class A Shares

Sale

Transaction value: $553,729,977
Shares: -15,022,517
Change %: -100%
Price: $36.86
Shares after: 0
Date: 30 May 2025
Ownership: See footnote
Footnotes: F3, F4

Reported derivative securities

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

HESM transaction Derivative

Opco Class B Units

Conversion of derivative security

Transaction value: $537,179,837
Shares: -14,573,517
Change %: -100%
Price: $36.86
Shares after: 0
Date: 30 May 2025
Ownership: See footnote
Underlying class: Class A Shares
Underlying amount: 14,573,517
Exercise price
Footnotes: F3, F4

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

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

BlackRock Portfolio Management LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 4 footnotes

Footnote F1

Reflects the cancellation for no consideration of Class B Shares in connection with the conversion of the Opco Class B Units into Class A Shares.

Footnote F2

Represents securities held by Hess Midstream GP LP. Hess Infrastructure Partners GP LLC is the sole member of Hess Midstream GP LLC, which is the general partner of Hess Midstream GP LP. Hess Infrastructure Partners GP LLC is a 50/50 joint venture between Hess Investments North Dakota LLC ("HINDL") and GIP II Blue Holding, L.P. ("Blue Holding"). As such, each of the foregoing entities may be deemed to beneficially own the securities held of record by Hess Midstream GP LP. Each such entity and BlackRock Portfolio Management LLC disclaims beneficial ownership of such securities except to the extent of their pecuniary interest therein.

Footnote F3

Represents securities held by Blue Holding. Global Infrastructure Investors II, LLC is the sole general partner of Global Infrastructure GP II, L.P., which is the sole member of GIP Blue Holding GP, LLC, which is the general partner of Blue Holding. As such, each of the foregoing entities may be deemed to beneficially own the securities held of record by Blue Holding. Each such entity and BlackRock Portfolio Management LLC disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.

Footnote F4

Includes a transfer of 449,000 Class A Shares from Hess Midstream GP LP to Blue Holding in a transaction exempt from reporting pursuant to Rule 16a-13.

SEC remarks

In accordance with SEC Release No. 34-39538 (January 12, 1998), BlackRock Portfolio Management LLC is reporting Issuer securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. This filing does not include Issuer securities, if any, beneficially owned by other business units whose beneficial ownership of securities is disaggregated from that of the Reporting Business Units in accordance with such release.