UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (date of earliest event reported): May 312, 2023

DCP MIDSTREAM, LP

(Exact name of registrant as specified in its charter)



Delaware	001-32678	03-0567133
(State or other jurisdiction of incorporation)	(Commission File No.)	(IRS Employer Identification No.)

6900 E. Layton Ave, Suite 900

Denver, Colorado 80237

(Address of principal executive offices) (Zip Code)

(303) 595-3331

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common units representing limited partnership interests

DCP

New York Stock Exchange

7.875% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

DCP PRB

New York Stock Exchange

7.95% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

DCP PRC

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2 8.0201 ~~Results~~Other ~~of Operations and Financial Condition~~Events.

On May 3 12, 2023, DCP Midstream, LP (NYSE: DCP) (the “Partnership”) issued a ~~press~~notice ~~release~~of ~~announcing~~full ~~its~~redemption ~~financial~~to ~~results~~the ~~for~~holders of the ~~three~~Partnership’s ~~months~~7.875% ~~ended~~Series ~~March 31,~~B ~~2023~~Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (NYSE: DCP PRB) (CUSIP No. A23311P ~~copy~~209) (the “Series B Preferred Units”) notifying such holders that the Partnership intends to redeem all of its issued and outstanding Series B Preferred Units on June 15, 2023 (the ~~press~~“Redemption ~~release~~Date” isand ~~furnished~~such asredemption, ~~Exhibit~~the 99“Redemption”).1 ~~hereto~~Following the Redemption, there will be no Series B Preferred Units outstanding, distributions on the Series B Preferred Units will cease to accumulate and isall ~~incorporated~~rights ~~herein~~of bythe ~~reference.~~holders of Series B Preferred Units will terminate, except the right of such holders to receive the Redemption Price (as defined below).

InThe ~~accordance~~redemption ~~with~~price ~~General~~will ~~Instruction~~be ~~B.2~~equal ofto ~~Form~~$25.00 ~~8-K,~~per ~~the~~redeemed ~~press~~Series ~~release~~B ~~furnished~~Preferred asUnit ~~Exhibit~~(the ~~99.1~~“Redemption toPrice”) ~~this~~on ~~current~~the ~~report~~Redemption onDate. ~~Form~~Since ~~8-K~~the ~~shall~~Redemption ~~not~~Date beis ~~deemed~~also ~~“filed”~~a ~~for~~Series ~~the~~B ~~purposes~~Preferred ofUnit ~~Section 18~~distribution ofdate, the ~~Securities~~Redemption ~~Exchange~~Price ~~Act~~does ofnot ~~1934,~~include asany ~~amended,~~accrued orand ~~otherwise~~unpaid ~~subject~~Series toB ~~the~~Preferred ~~liabilities~~Unit ofdistributions. ~~that~~Declared ~~section,~~distributions ~~nor~~of ~~shall~~$0.4922 ~~such~~per ~~information~~Series orB ~~exhibit~~Preferred beUnit ~~deemed~~for ~~incorporated~~the byfull ~~reference~~current ~~into~~quarterly ~~any~~distribution ~~filing~~period ~~under~~will ~~the~~be ~~Securities~~paid ~~Act~~separately ofin ~~1933~~the orcustomary ~~Securities~~manner ~~Exchange~~on ~~Act~~June ~~of 1934~~15, ~~each~~2023 asto ~~amended,~~holders ~~except~~of asrecord ~~shall~~at bethe ~~expressly~~close ~~set~~of ~~forth~~business byon ~~specific~~June ~~reference~~1, ~~in any such filing~~2023.

2American Stock Transfer & Trust Company, LLC is acting as the redemption agent for the Redemption and its address is: 6201 15th Avenue, Brooklyn, New York 11219, Attn: Corporate Actions.

~~Item 9~~This report does not constitute a notice of redemption of the Series B Preferred Units and this report does not constitute an offer to sell or buy or the solicitation of an offer to buy or sell any security.01 ~~Financial~~This ~~Statements~~report contains forward-looking statements as defined under the federal securities laws, including statements regarding the Redemption and ~~Exhibits~~amounts to be used for the Redemption. Although management believes that expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. In addition, these statements are subject to certain risks, uncertainties and other assumptions that are difficult to predict and may be beyond our control. If any of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, the Partnership’s actual results may vary materially from what management forecasted, anticipated, estimated, projected or expected.

Exhibit No.						Description
99.1						Press Release dated May 3, 2023
101						Cover Page formatted as Inline XBRL.
104						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 3 17, 2023


DCP MIDSTREAM, LP

By:	DCP MIDSTREAM GP, LP,
	its General Partner

	By:	DCP MIDSTREAM GP, LLC,
		its General Partner

		By:	/s/ Scott R. Delmoro
		Name:	Scott R. Delmoro
		Title:	Interim Chief Financial Officer

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