William J. Mault - Jan 18, 2025 Form 4 Insider Report for Summit Midstream Corp (SMC)

Signature
/s/ James D. Johnston, Attorney-in-Fact for William J. Mault
Stock symbol
SMC
Transactions as of
Jan 18, 2025
Transactions value $
-$110,077
Form type
4
Date filed
1/22/2025, 06:26 PM
Previous filing
Aug 2, 2024
Next filing
Mar 18, 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SMC Common Stock Options Exercise +10.1K +25.13% 50.4K Jan 18, 2025 Direct F1
transaction SMC Common Stock Tax liability -$110K -2.65K -5.25% $41.57 47.8K Jan 18, 2025 Direct F2

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 SMC Corporation Restricted Stock Units Options Exercise $0 -10.1K -10.34% $0.00 87.8K Jan 18, 2025 Common Stock 10.1K Direct F1, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each corporation restricted stock unit is the economic equivalent of one common stock.
F2 Common stocks being withheld to pay tax liability.
F3 One-third of the corporation restricted stock units subject to the original award agreement vested on January 18, 2025, with the remaining corporation restricted stock units subject to vesting on the second and third anniversaries of the January 18, 2024 reference date, subject to continued employment. The Reporting Person received distribution equivalent rights ("DERs") for each corporation restricted stock 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 corporation restricted stock units.
F4 The corporation restricted stock units and associated DERs do not expire. The corporation restricted stock units are settled upon vesting in common stocks (on a one-for-one basis) or in cash, at the discretion of the Issuer.
F5 This total includes corporation restricted stock units from other tranches with different vesting dates.