[Form 4] Aris Water Solutions, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Aris Water Solutions (ARIS) disclosed that a director reported the disposition of 55,675 shares of Class A common stock on 10/15/2025, executed at the Effective Time of the merger transactions with Western Midstream Partners, LP (“Parent”). Following the transaction, the reporting person held 0 shares.

Per the filing, each share was converted into the right to receive, pursuant to the holder’s election, one of the following: $7.00 in cash and 0.450 Parent common units, $25.00 in cash, or 0.625 Parent common units; absent a timely election, the 0.625-unit option applied. The amount reported includes 5,901 shares subject to time-vesting RSUs, which were converted at the Effective Time into cash equal to shares multiplied by $25.00, plus any accrued but unpaid cash-based dividend equivalents.

Insights

Equity M&A analyst

Insider Form 4 reflects merger closing mechanics; neutral impact.

The Form 4 records an automatic share conversion at the merger’s Effective Time. For each Aris share, holders could elect $7.00 plus 0.450 Western Midstream units, $25.00 cash, or 0.625 Western Midstream units. The director’s position moved to zero shares after completion.

Equity awards were addressed: 5,901 RSU shares converted to cash at $25.00 per underlying share plus unpaid cash-based dividend equivalents. This aligns with typical change-in-control treatment and indicates consideration choices were provided per the merger agreement.

This filing is administrative and confirms execution of previously announced terms. Actual consideration mix depends on individual elections; subsequent disclosures may provide aggregate post-merger details.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

YZAGUIRRE MARIO MAX

(Last) (First) (Middle)

9651 KATY FREEWAY

SUITE 400

(Street)

HOUSTON TX 77024

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Aris Water Solutions, Inc. [ ARIS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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
Class A Common Stock	10/15/2025		D(1)(2)(3)		55,675(1)(2)(3)	D	(1)(2)(3)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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

Explanation of Responses:

1. As of the effective time (the "Effective Time") of the transactions contemplated by the Agreement and Plan of Merger entered into on August 6, 2025, by and among the Issuer, Western Midstream Partners, LP ("Parent"), Arrakis OpCo Merger Sub LLC, Arrakis Holdings Inc., Arrakis Unit Merger Sub LLC, Arrakis Cash Merger Sub LLC and Aris Water Holdings LLC, each issued and outstanding share of the Issuer's Class A common stock, par value $0.01 per share ("Issuer Class A Common Stock") held by the Reporting Person as of immediately prior to the Effective Time, was converted into the right to receive, pursuant to an election made by the Reporting Person, one of the following forms of consideration:

2. cont'd from Footnote 1: (i) $7.00 in cash (without interest) and 0.450 common units representing limited partnership interests in Parent ("Parent Common Units"); (ii) $25.00 in cash (without interest); (iii) 0.625 Parent Common Units ("Common Unit Election Consideration"), or (iv) in the event of the Reporting Person's failure to timely deliver an election, the Common Unit Election Consideration.

3. This amount includes 5,901 shares of Issuer Class A Common Stock subject to awards of time-vesting restricted stock units ("Issuer RSU Awards") held by the Reporting Person. At the Effective Time, each Issuer RSU Award was converted into the right to receive an amount in cash equal to (i) the total number of shares of Issuer Class A Common Stock subject to such Issuer RSU Award, multiplied by (ii) $25.00, plus an additional amount in cash equal to any accrued but unpaid cash-based dividend equivalents.

	/s/ Robert W. Hunt Jr., as Attorney-in-Fact	10/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did ARIS report in this Form 4?

A director disposed of 55,675 Class A shares on 10/15/2025 at the merger’s Effective Time and now holds 0 shares.

What were the merger consideration options for ARIS shares?

Per election: $7.00 cash + 0.450 Western Midstream units, $25.00 cash, or 0.625 Western Midstream units; 0.625 units applied absent a timely election.

How were ARIS RSUs treated for the reporting person?

5,901 RSU shares converted to cash equal to shares × $25.00, plus accrued but unpaid cash-based dividend equivalents.

Who is the Parent in the merger involving ARIS?

Western Midstream Partners, LP is identified as the Parent in the transaction.

What is the transaction date on the ARIS Form 4?

The earliest transaction date reported is 10/15/2025.