[Form 3] DT Midstream, Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Joseph Peter Finland, Chief Accounting Officer of DT Midstream, Inc. (DTM), filed an initial Form 3 reporting beneficial ownership of restricted stock units (RSUs). The filing notes a total of 3,642.7366 RSUs (each RSU represents a contingent right to one share, with fractional shares paid in cash) granted under the issuer's long-term incentive plan and including associated dividend equivalents. The RSUs vest on staggered dates: February 1, 2026; March 1, 2026 and March 1, 2027 (965 and 965 in that tranche); February 15, 2027; February 25, 2028; and March 1, 2028, and vesting is contingent on continued employment through each vesting date. The event requiring the statement is dated 09/17/2025, and the Form 3 is signed by an attorney-in-fact on 09/23/2025.

Positive

• Alignment with shareholders: officer holds 3,642.7366 RSUs, aligning compensation with share performance
• Retention focus: RSUs vest on multiple future dates (2026–2028), indicating time‑based retention incentives
• Dividend protection: RSUs include associated dividend equivalents

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine initial Form 3 discloses RSUs for a newly reporting officer; no cash transactions or sales reported.

The filing is a standard initial beneficial ownership report for an executive officer, documenting equity compensation in the form of restricted stock units totaling 3,642.7366 RSUs. All RSUs are described as contingent rights to receive common stock, include dividend equivalents, and vest on specified future dates conditioned on continued employment. There are no sales, purchases, option exercises, or direct share holdings disclosed on this Form 3. For investors, this is primarily a disclosure of alignment through equity awards rather than an actionable change in outstanding common shares today.

Corporate Governance Expert

TL;DR: Standard disclosure showing time‑based equity awards and employment‑conditioned vesting; governance implications are routine.

The report documents time‑based restricted stock units granted under the issuer's long‑term incentive plan and confirms inclusion of dividend equivalents and one‑for‑one conversion rights (with cash treatment for fractions). Vesting is explicitly contingent on continued employment with specific dates between 2026 and 2028. This filing fulfills Section 16 reporting requirements and signals standard retention incentives for a named officer; it contains no governance red flags or departures from typical equity award practice as presented.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Finland Joseph Peter

(Last) (First) (Middle)

500 WOODWARD AVE., SUITE 2900

(Street)

DETROIT MI 48226

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/17/2025

3. Issuer Name and Ticker or Trading Symbol
DT Midstream, Inc. [ DTM ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	(1)	Common Stock	316.8922(2)	(3)	D
Restricted Stock Units	(4)	(4)	Common Stock	2,036.6646(2)	(3)	D
Restricted Stock Units	(5)	(5)	Common Stock	336.63(2)	(3)	D
Restricted Stock Units	(6)	(6)	Common Stock	179.9373(2)	(3)	D
Restricted Stock Units	(7)	(7)	Common Stock	772.6125(2)	(3)	D

Explanation of Responses:

1. Restricted stock units vest on February 1, 2026, subject to the Reporting Person's continued employment with the Issuer through the vesting date.

2. Includes associated dividend equivalents under the Issuer's long-term incentive plan.

3. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock with any fractional shares being paid in cash.

4. Restricted stock units of which 965 vest on March 1, 2026 and 965 vest on March 1, 2027, together with associated dividend equivalents, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting dates.

5. Restricted stock units vest on February 15, 2027, subject to the Reporting Person's continued employment with the Issuer through the vesting date.

6. Restricted stock units vest on February 25, 2028, subject to the Reporting Person's continued employment with the Issuer through the vesting date.

7. Restricted stock units vest on March 1, 2028, subject to the Reporting Person's continued employment with the Issuer through the vesting date.

Remarks:

Exhibit 24 (Power of Attorney)

	/s/ Andrew Hayner, Attorney-in-Fact	09/23/2025
	** 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 5 (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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Joseph Peter Finland report on Form 3 for DT Midstream (DTM)?

He reported ownership of 3,642.7366 restricted stock units (RSUs) granted under the issuer's long‑term incentive plan, including dividend equivalents.

When are the reported RSUs scheduled to vest?

Vesting dates are Feb 1, 2026; Mar 1, 2026 and Mar 1, 2027 for a two‑tranche grant of 965 each; Feb 15, 2027; Feb 25, 2028; and Mar 1, 2028.

Does the Form 3 show any direct share holdings or transactions?

The Form 3 lists contingent RSUs representing rights to common stock; it does not report any cash sales, purchases, or exercised options in this filing.

What contingencies apply to the RSU awards reported on the Form 3?

Each RSU vests only upon the reporting person's continued employment through the stated vesting date.

What date triggered the filing and when was the Form 3 signed?

The event requiring the statement is dated 09/17/2025, and the Form 3 was signed by an attorney‑in‑fact on 09/23/2025.