Hess Midstream Form 144 reveals planned $528k Class A unit sale

Rhea-AI Filing Summary

Hess Midstream LP (HESM) has filed a Form 144 indicating the proposed sale of up to 12,500 Class A limited partner units. The shares were originally acquired on 04/05/2017 through an open-market purchase for cash. The filer plans to execute the sale through Fidelity Brokerage Services on or about 08/06/2025.

The prospective sale carries an aggregate market value of $528,296.65, based on the market price at the time of filing. Compared with the issuer’s total outstanding units of 116,778,607, the contemplated sale represents roughly 0.01 % of total float, suggesting a limited impact on overall supply. No other sales by the same person have been reported during the past three months.

Form 144 signals that the seller may be an affiliate or insider subject to Rule 144 resale restrictions. The filer affirms no undisclosed material adverse information and acknowledges potential penalties for misstatements under 18 U.S.C. 1001.

Positive

• Sale equals only ~0.01 % of outstanding units, implying minimal market supply pressure.
• Rule 144 compliance affirmed, indicating transparent insider trading practices.

Negative

• Insider disposition can signal reduced confidence or need for liquidity, creating a slight bearish sentiment.
• No offsetting insider purchases disclosed, offering limited positive counter-signal for investors.

Insights

Financial Analyst

TL;DR: Small insider trade (0.01 % float) worth $528k; negligible dilution risk, sentiment mildly negative.

The proposed 12,500-unit sale is immaterial to Hess Midstream’s capital structure, representing only ~0.01 % of outstanding units. Because the filing is a routine Form 144, it does not directly alter cash flow, leverage, or distribution policy. However, any insider disposition can be interpreted as incrementally bearish for sentiment, especially absent simultaneous insider purchases. Volume and value are modest, so market impact should be minimal. I classify this event as not impactful to long-term fundamentals but potentially a short-term sentiment headwind.

Corporate Governance Specialist

TL;DR: Routine Rule 144 filing; compliance intact, no red flags in disclosure.

The notice confirms that the seller certifies awareness of no undisclosed adverse information, fulfilling Rule 144 requirements. No aggregation of prior sales suggests compliance with volume limits. The use of a reputable broker and clear transaction history reduce governance concerns. Given the tiny proportion of units involved, I view the filing as administrative rather than strategically significant. Impact on governance risk score is negligible.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	12500	528296.65	116778607	08/06/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	04/05/2017	Open Market Purchase	Issuer			12500	04/05/2017	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Hess Midstream (HESM) units are being sold under this Form 144?

12,500 Class A limited partner units are proposed for sale.

What is the total market value of the planned HESM sale?

The aggregate market value disclosed is $528,296.65.

When is the approximate sale date for the HESM units?

The filer lists an approximate sale date of 08/06/2025.

What percentage of Hess Midstream's outstanding units does the sale represent?

Roughly 0.01 % of the 116,778,607 units outstanding.

Where will the HESM units be sold?

The filing cites NYSE as the securities exchange with Fidelity Brokerage Services LLC as broker.