DT Midstream CFO exercises RSUs, settles tax in shares

DT Midstream, Inc. Executive V.P. and CFO Jeffrey A. Jewell reported routine equity compensation activity.

Rhea-AI Filing Summary

DT Midstream, Inc. Executive V.P. and CFO Jeffrey A. Jewell reported routine equity compensation activity. On May 4, 2026, he exercised 13,209.2 Restricted Stock Units into the same number of common shares, consistent with the plan’s one-for-one conversion.

On the same date, 16,109 shares of common stock were disposed of at $138.70 per share to satisfy tax obligations, a tax-withholding disposition rather than an open-market sale. After these transactions, Jewell directly holds 89,582 shares of DT Midstream common stock, including shares acquired through the company’s dividend reinvestment plan.

Insider Trade Summary

13,209.2 shares exercised/converted

Exercise 3 txns

Insider Jewell Jeffrey A

Role Executive V.P., CFO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	13,209.2	$0.00	$0.00
Exercise	Common Stock	16,109	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	16,109	$138.70	$2.23M

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Stock — 89,582 shares (Direct)

Footnotes (3)

1. F1. Includes shares of the Issuer's common stock acquired under the Issuer's dividend reinvestment plan.
2. F2. 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.
3. F3. This restricted stock unit vested 55.56% on May 4, 2023, and the remaining 44.44% vested on May 4, 2026.

Key Figures

Tax-withholding shares: 16,109 shares Tax-withholding price: $138.70 per share RSUs exercised: 13,209.2 units +1 more

4 metrics

Tax-withholding shares 16,109 shares Common stock disposed to satisfy tax liability at $138.70 per share

Tax-withholding price $138.70 per share Price for 16,109-share tax-withholding disposition on May 4, 2026

RSUs exercised 13,209.2 units Restricted Stock Units converted into the same number of common shares

Shares held after 105,691 shares Direct DT Midstream common stock holdings after reported transactions

Key Terms

Restricted Stock Units, dividend reinvestment plan, tax-withholding disposition

3 terms

Restricted Stock Units financial

"Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

dividend reinvestment plan financial

"Includes shares of the Issuer's common stock acquired under the Issuer's dividend reinvestment plan"

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did DT Midstream (DTM) CFO Jeffrey A. Jewell report in this Form 4?

He reported routine equity compensation activity. 13,209.2 Restricted Stock Units were exercised into common stock, and 16,109 shares were used to cover taxes. After these transactions, he directly holds 105,691 common shares of DT Midstream.

Did the DT Midstream (DTM) CFO sell shares in the open market?

The filing shows no open-market sale. Instead, 16,109 shares were disposed of in a tax-withholding transaction at $138.70 per share to satisfy tax liabilities tied to equity compensation, a standard administrative mechanism.

How many DT Midstream (DTM) shares does the CFO own after these transactions?

Following the reported transactions, Jeffrey A. Jewell directly owns 105,691 shares of DT Midstream common stock. This total includes shares previously acquired under the company’s dividend reinvestment plan, as noted in the filing’s footnotes.

What happened to the DT Midstream (DTM) Restricted Stock Units in this Form 4?

A block of 13,209.2 Restricted Stock Units was converted into an equal number of DT Midstream common shares. Each RSU represents a contingent right to one share, with any fractional share paid in cash, according to the filing’s footnotes.

Is the DT Midstream (DTM) CFO’s Form 4 transaction a strong bullish or bearish signal?

The activity appears routine. The Form 4 reflects RSU vesting and exercise plus tax-withholding in shares, not discretionary open-market buying or selling. Such compensation-related events typically carry limited signaling value about management’s view of the stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/06/2026 - 04:31 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Jewell Jeffrey A

(Last) (First) (Middle)

500 WOODWARD AVE., SUITE 2900

(Street)

DETROIT MICHIGAN 48226

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive V.P., CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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
Common Stock	05/04/2026		M		16,109(1)	A	(2)	105,691(1)	D
Common Stock	05/04/2026		F		16,109	D	$138.7	89,582	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
Restricted Stock Units	(2)	05/04/2026		M			13,209.2	(3)	(3)	Common Stock	13,209.2	$0	0	D

Explanation of Responses:

1. Includes shares of the Issuer's common stock acquired under the Issuer's dividend reinvestment plan.

2. 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.

3. This restricted stock unit vested 55.56% on May 4, 2023, and the remaining 44.44% vested on May 4, 2026.

	/s/ Andrew Hayner, Attorney-in-Fact	05/06/2026
	** 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.
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.
* Form 4: SEC 1474 (03-26)