4//SEC Filing
Johnston James David 4
Accession 0002024218-25-000034
CIK 0002024218other
Filed
Mar 17, 8:00 PM ET
Accepted
Mar 18, 8:53 PM ET
Size
25.1 KB
Accession
0002024218-25-000034
Insider Transaction Report
Form 4
Johnston James David
Executive VP, GC, CCO and Secy
Transactions
- Exercise/Conversion
Corporation Restricted Stock Units
2025-03-15−9,793→ 100,511 total→ Common Stock (9,793 underlying) - Exercise/Conversion
Common Stock
2025-03-15+4,018→ 44,397 total - Tax Payment
Common Stock
2025-03-15$37.44/sh−3,395$127,109→ 49,816 total - Award
Corporation Restricted Stock Units
2025-03-14+13,958→ 119,866 total→ Common Stock (13,958 underlying) - Exercise/Conversion
Common Stock
2025-03-15+5,544→ 41,729 total - Tax Payment
Common Stock
2025-03-15$37.44/sh−1,350$50,544→ 40,379 total - Award
Corporation Restricted Stock Units
2025-03-14+13,958→ 105,908 total→ Common Stock (13,958 underlying) - Exercise/Conversion
Corporation Restricted Stock Units
2025-03-15−5,544→ 114,322 total→ Common Stock (5,544 underlying) - Tax Payment
Common Stock
2025-03-15$37.44/sh−979$36,654→ 43,418 total - Exercise/Conversion
Corporation Restricted Stock Units
2025-03-15−4,018→ 110,304 total→ Common Stock (4,018 underlying) - Exercise/Conversion
Common Stock
2025-03-15+9,793→ 53,211 total
Footnotes (8)
- [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 (rounded down to the nearest whole number of units, except in the case of the final vesting date) shall vest on each of the first, second and third anniversaries of the March 14, 2025, reference date, subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive 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]The corporation restricted stock units shall vest if and to the extent that the corporation restricted stock units are earned during the performance period from January 1, 2025 through December 31, 2027, which will depend on whether the performance criteria are achieved as determined by the committee as soon as reasonably practicable, but no later than sixty (60) days following December 31, 2027, the last day of the Performance Period. The vesting of the corporation restricted stock units is subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive 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.
- [F6]The final one-third of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, the third anniversary of the March 15, 2022, reference date. The Reporting Person received 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.
- [F7]The final twenty percent of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, the third anniversary of the March 15, 2022, reference date. The Reporting Person received 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.
- [F8]One-third of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, and the final one-third of the corporation restricted stock units shall vest on the third anniversary of the March 15, 2023, reference date, subject to continued employment. The Reporting Person received 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.
Documents
Issuer
Summit Midstream Corp
CIK 0002024218
Entity typeother
Related Parties
1- filerCIK 0001823482
Filing Metadata
- Form type
- 4
- Filed
- Mar 17, 8:00 PM ET
- Accepted
- Mar 18, 8:53 PM ET
- Size
- 25.1 KB