SEC Form 4 · accession 0001558304-15-000022
Summit Midstream Partners, LP · SMLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brock M Degeyter
Officer — See Remarks
Period of report
Sep 28, 2015
Accepted (ET)
Sep 30, 2015 · 4:22 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001549922
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF1 | Sep 28, 2015 | M | 12,500 | — | A | 19,487 | D | |
| Common Units | Sep 28, 2015 | F | 461 | $16.76 | D | 19,026 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1,F2,F3 | — | Sep 28, 2015 | M | 12,500 | D | — | — | Common Units | 12,500 | 0 | D |
| Distribution Equivalent RightsF2,F3 | $5.46 | Sep 28, 2015 | D | 12,500 | D | — | — | Common Units | 12,500 | 0 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one common unit.
- F2All of the phantom units subject to the original award agreement vested on September 28, 2015. 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.
- F3The 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.
Remarks
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.