Robert W. Bourne - 12 Feb 2023 Form 4 Insider Report for Western Midstream Partners, LP (WES)

Role
SVP & Chief Commercial Officer
Signature
/s/ Philip C. Neisel, as attorney-in-fact
Issuer symbol
WES
Transactions as of
12 Feb 2023
Transactions value $
-$289,439
Form type
4
Filing time
14 Feb 2023, 18:31:48 UTC
Previous filing
16 Nov 2022
Next filing
15 Feb 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WES Common Units representing limited partner interests Options Exercise $0 +12,485 +36% $0 47,627 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability -$143,476 -5,077 -11% $28.26 42,550 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Options Exercise $0 +7,347 +17% $0 49,897 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability -$81,699 -2,891 -5.8% $28.26 47,006 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Options Exercise $0 +5,780 +12% $0 52,786 12 Feb 2023 Direct
transaction WES Common Units representing limited partner interests Tax liability -$64,263 -2,274 -4.3% $28.26 50,512 12 Feb 2023 Direct

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 WES 2020 Phantom Units Options Exercise $0 -12,485 -100% $0* 0 12 Feb 2023 Common Units representing limited partner interests 12,485 Direct F1
transaction WES 2021 Phantom Units Options Exercise $0 -7,347 -50% $0 7,347 12 Feb 2023 Common Units representing limited partner interests 7,347 Direct F2, F3
transaction WES 2022 Phantom Units Options Exercise $0 -5,780 -33% $0 11,561 12 Feb 2023 Common Units representing limited partner interests 5,780 Direct F4, F5
transaction WES 2023 Phantom Units Award $0 +32,456 $0 32,456 14 Feb 2023 Common Units representing limited partner interests 32,456 Direct F2, F3
transaction WES 2023 Performance Unit - TUR Award $0 +16,228 $0 16,228 14 Feb 2023 Common Units representing limited partner interests 16,228 Direct F6
transaction WES 2023 Performance Unit - ROA Award $0 +16,228 $0 16,228 14 Feb 2023 Common Units representing limited partner interests 16,228 Direct F6
holding WES 2022 Performance Unit - TUR 8,671 12 Feb 2023 Common Units representing limited partner interests 8,671 Direct F6
holding WES 2022 Performance Unit - ROA 8,671 12 Feb 2023 Common Units representing limited partner interests 8,671 Direct F6
holding WES 2021 Performance Unit - TUR 22,040 12 Feb 2023 Common Units representing limited partner interests 22,040 Direct F6
holding WES 2021 Performance Unit - ROA 22,040 12 Feb 2023 Common Units representing limited partner interests 22,040 Direct F6
holding WES 2020 Performance Unit - TUR 10,924 12 Feb 2023 Common Units representing limited partner interests 10,924 Direct F6
holding WES 2020 Performance Unit - ROA 10,924 12 Feb 2023 Common Units representing limited partner interests 10,924 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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. This Phantom Unit award vests ratably on 2/12/21, 2/12/22 and 2/12/23.
F2 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.
F3 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.
F4 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
F5 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.
F6 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.