0001549922-24-000021.txt : 20240122
0001549922-24-000021.hdr.sgml : 20240122
20240122085718
ACCESSION NUMBER: 0001549922-24-000021
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240118
FILED AS OF DATE: 20240122
DATE AS OF CHANGE: 20240122
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Johnston James David
CENTRAL INDEX KEY: 0001823482
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35666
FILM NUMBER: 24547212
MAIL ADDRESS:
STREET 1: 910 LOUISIANA STREET
STREET 2: SUITE 4200
CITY: HOUSTON
STATE: TX
ZIP: 77002
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Summit Midstream Partners, LP
CENTRAL INDEX KEY: 0001549922
STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION [4922]
ORGANIZATION NAME: 01 Energy & Transportation
IRS NUMBER: 455200503
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 910 LOUISIANA STREET
STREET 2: SUITE 4200
CITY: HOUSTON
STATE: TX
ZIP: 77002
BUSINESS PHONE: 832-413-4770
MAIL ADDRESS:
STREET 1: 910 LOUISIANA STREET
STREET 2: SUITE 4200
CITY: HOUSTON
STATE: TX
ZIP: 77002
FORMER COMPANY:
FORMER CONFORMED NAME: Summit Midstream Partners LP
DATE OF NAME CHANGE: 20120514
4
1
wk-form4_1705931830.xml
FORM 4
X0508
4
2024-01-18
0
0001549922
Summit Midstream Partners, LP
SMLP
0001823482
Johnston James David
C/O SUMMIT MIDSTREAM PARTNERS, LP
910 LOUISIANA STREET, SUITE 4200
HOUSTON
TX
77002
0
1
0
0
See remarks below.
0
Phantom Units
2024-01-18
4
A
0
32383
0
A
Common Units
32383
32383
D
Phantom Units
2024-01-18
4
A
0
21589
0
A
Common Units
21589
21589
D
Each phantom unit is the economic equivalent of one common unit.
One-third of the phantom 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 January 18, 2024 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 phantom 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 phantom units.
The phantom units and associated DERs do not expire. The phantom units are settled upon vesting in common units (on a one-for-one basis) or in cash, at the discretion of the Issuer.
The phantom units shall vest if and to the extent that the phantom units are earned during the performance period from January 1, 2024 through December 31, 2026, which will depend on whether the performance criteria are achieved as determined by the committee as soon as reasonably practicable, but no later than Friday, March 6, 2027. The vesting of the phantom units is subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive DERs for each phantom 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 phantom units.
After giving effect to the transactions reported in this Report, the Reporting Person holds an aggregate 141,752 phantom units. This total includes phantom units from other tranches with different vesting dates.
The Reporting Person is Executive Vice President, General Counsel, and Chief Compliance Officer of Summit Midstream GP, LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the directors and executive officers of the General Partner.
/s/ James D. Johnston
2024-01-22