Welcome to our dedicated page for Summit Midstream SEC filings (Ticker: smc), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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- DEF 14A: Detailed Summit Midstream proxy statement executive compensation tables translated into clear pay-for-performance metrics.
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Amendment No. 2 to a Schedule 13D reports that Tailwater-related parties, through Connect Midstream, now beneficially hold 6,670,946 shares of Summit Midstream Corp (SMC), equal to 35.5% of the outstanding common stock on the filing date. The aggregate includes 6,524,467 Common Stock issuable upon conversion of an equivalent number of partnership Common Units and related Class B shares plus 146,479 directly held shares. The filing amends a prior Schedule 13D and notes that recent open-market purchases on 8/26/2025–8/28/2025 totaling 146,479 shares were financed with working capital at average prices of $20.46–$20.89 per share. The document details the ownership chain: Tailwater Energy Fund III LP is sole member of Connect Midstream and identifies the controlling entities and two managing partners who may be deemed to beneficially own the reported securities. The filing is signed 09/02/2025.
Summit Midstream insiders purchased shares: Connect Midstream, LLC acquired 26,319 shares of Summit Midstream Corp (SMC) on 08/28/2025 at a weighted-average price of $20.89 (individual trades ranged from $20.43 to $21.01). After the purchase, Connect Midstream directly holds 146,479 shares. The filing lists related reporting entities and individuals: Tailwater Energy Fund III LP, Tailwater Capital LLC, Jason H. Downie and Edward Herring, each noted as a director and 10% owner or related to the reporting chain. Signatures are dated 09/02/2025.
Connect Midstream, LLC and affiliated Tailwater entities report beneficial ownership of 6,644,627 shares of Summit Midstream Corp common stock, representing 35.4% of the diluted class. That total includes 6,524,467 Common Units convertible into the same number of common shares and Class B shares that convey voting rights but no economic interest, plus 120,160 directly held common shares. Conversion of Common Units forfeits corresponding Class B shares for no consideration.
The amendment discloses that recent open-market purchases of 72,759 shares on 8/26/2025 at an average $20.46 and 47,401 shares on 8/27/2025 at an average $20.50 were financed with working capital. Ownership is held through a chain of entities culminating in Tailwater Capital LLC, with Jason H. Downie and Edward Herring identified as managing partners.
Summit Midstream insiders increased their direct holdings through multiple purchases. Connect Midstream, LLC reported acquisitions of common stock on 08/26/2025 and 08/27/2025 totaling 120,160 shares held directly by Connect Midstream, LLC. The 08/26 purchases were for 72,759 shares at a weighted-average price of $20.46 (trades ranged $19.87–$20.75) and the 08/27 purchases were for 47,401 shares at a weighted-average price of $20.50 (trades ranged $20.35–$20.82). Tailwater-related entities and individuals listed in the filing disclaim direct beneficial ownership except for their pecuniary interests; reported holdings are held directly by Connect Midstream, LLC.
Summit Midstream Corporation reported stronger top-line activity with total revenues of $272.9 million for the six months ended June 30, 2025, up from $220.2 million a year earlier, driven by higher gathering and commodity sales. Operating cash flow improved to $53.2 million for the six-month period versus $31.0 million in the prior year, while capital expenditures totaled $47.0 million.
Despite higher revenues and asset growth, the company reported a net loss attributable to Summit Midstream Corporation of $9.9 million for the six months ended June 30, 2025 (versus net income of $94.98 million in the prior year). Balance sheet highlights include property, plant and equipment, net of $1.85 billion, long-term debt, net of unamortized costs of $1.06 billion, and available ABL borrowing capacity of approximately $359.2 million. Material transactions completed include the Tall Oak acquisition ($425.0 million) and the Moonrise acquisition (~$90.0 million). The company recorded accrued environmental and settlement liabilities of $15.0 million related primarily to the 2015 Blacktail Release and has $46.7 million of accrued and unpaid Series A preferred dividends.
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