SEC Form 4 · accession 0001127602-19-009667
Western Midstream Partners, LP · WES
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James R Crane
Director
Period of report
Feb 28, 2019
Accepted (ET)
Mar 4, 2019 · 6:19 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001423902
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Units representing limited partner interestsF1 | Feb 28, 2019 | A | 20,010 | — | A | 86,010 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF2 | — | Feb 28, 2019 | A | 3,058 | A | May 8, 2019 | May 8, 2019 | Common Units representing limited partner interests | 3,058 | 3,058 | D |
Explanation of responses
- F1Acquisition in connection with the merger of a wholly owned subsidiary of Western Gas Equity Partners, LP ("WGP") with Western Gas Partners, LP ("WES"), with WES continuing as the surviving entity and becoming a wholly owned subsidiary of WGP (the "Merger"). On February 27, 2019, the last trading day for the WES common units, the closing price of WES's common units was $49.55 per unit and the closing price of WGP's common units was $32.72 per unit. Each WES common unit outstanding was converted into the right to receive 1.525 WGP common units. As part of the Merger, WES changed its name to "Western Midstream Partners, LP" and its common units ceased trading on the New York Stock Exchange ("NYSE") and WGP changed its name to "Western Midstream Partners, LP" and its common units began trading on the NYSE under the "WES" ticker symbol when the market opened on Thursday, February 28, 2019.
- F2In connection with the Merger, Mr. Crane's grant of 2,005 WES phantom units was converted into a grant of 3,058 WGP phantom units, which reflects the conversion ratio of 1.525 WGP common units for each WES common unit set forth in the Merger transaction document.