Statement of Changes in Beneficial Ownership (4)
September 20 2021 - 08:00AM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL
OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934 or Section 30(h) of the Investment
Company Act of 1940
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1. Name
and Address of Reporting Person * Deneke J Heath |
2. Issuer Name and Ticker or Trading
Symbol Summit Midstream Partners, LP [ SMLP ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)__X__
Director _____
10% Owner
__X__ Officer (give title
below) _____ Other
(specify below)
See remarks below. |
(Last)
(First)
(Middle)
C/O SUMMIT MIDSTREAM PARTNERS, LP, 910 LOUISIANA STREET,
SUITE 4200 |
3. Date of Earliest Transaction (MM/DD/YYYY)
9/16/2021
|
(Street)
HOUSTON, TX 77002
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
|
6. Individual or Joint/Group Filing
(Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person |
Table I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
|
1.Title of Security
(Instr. 3) |
2. Trans. Date |
2A. Deemed Execution Date, if any |
3. Trans. Code
(Instr. 8) |
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) |
5. Amount of Securities Beneficially Owned Following
Reported Transaction(s)
(Instr. 3 and 4) |
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) |
7. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
Amount |
(A) or (D) |
Price |
Common Units |
9/16/2021 |
|
M |
|
17160 |
A |
(1) |
17160 (2) |
D |
|
Common Units |
9/16/2021 |
|
F |
|
6753 (3) |
D |
$37.14 |
10407 |
D |
|
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
|
1. Title of Derivate Security
(Instr. 3) |
2. Conversion or Exercise Price of Derivative
Security |
3. Trans. Date |
3A. Deemed Execution Date, if any |
4. Trans. Code
(Instr. 8) |
5. Number of Derivative Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5) |
6. Date Exercisable and Expiration Date |
7. Title and Amount of Securities Underlying
Derivative Security
(Instr. 3 and 4) |
8. Price of Derivative Security
(Instr. 5) |
9. Number of derivative Securities Beneficially
Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct
(D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
(A) |
(D) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Phantom Units |
(1) |
9/16/2021 |
|
M |
|
|
17160 |
(4) |
(5) |
Common Units |
17160 |
$0.00 |
17160 (2)(6) |
D |
|
Explanation of
Responses: |
(1) |
Each phantom unit is the
economic equivalent of one common unit. |
(2) |
On November 9, 2020, the
Issuer effected a 1-for-15 reverse unit split (the "Reverse Unit
Split"). Pursuant to the Reverse Unit Split, common unitholders
received one common unit for every 15 common units owned at the
close of business on November 9, 2020. All fractional units created
by the Reverse Unit Split were rounded to the nearest whole unit.
The common units began trading on a split-adjusted basis on
November 10, 2020. After giving effect to the Reverse Unit Split,
the number of issued and outstanding common units decreased to
3,774,992. |
(3) |
Common Units being withheld
to pay tax liability. |
(4) |
One-third of the phantom
units subject to the original award agreement vested on September
16, 2021, with the final one-third of the phantom units subject to
vesting on the third anniversary of the September 16, 2019 grant
date, subject to continued employment. The Reporting Person
received 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. |
(5) |
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. |
(6) |
Total excludes phantom units
from other tranches with different vesting and expiration
dates. |
Remarks:
The Reporting Person is President and Chief Executive 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. |
Reporting
Owners
|
Reporting Owner Name / Address |
Relationships
|
Director |
10% Owner |
Officer |
Other |
Deneke J Heath
C/O SUMMIT MIDSTREAM PARTNERS, LP
910 LOUISIANA STREET, SUITE 4200
HOUSTON, TX 77002 |
X |
|
See remarks below. |
|
Signatures
|
/s/ James D. Johnston, Attorney-in-Fact for J.
Heath Deneke |
|
9/20/2021 |
**Signature of Reporting
Person |
Date |
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