Summit Midstream (SMC) CEO logs RSU vesting and tax share withholding
Rhea-AI Filing Summary
Summit Midstream Corp Chairman, President and CEO J. Heath Deneke reported equity award activity involving restricted stock units and common shares. On January 16, 2026, 32,754 corporation restricted stock units were converted at an exercise price of $0, resulting in the acquisition of 32,754 shares of common stock. The filing shows that 8,216 common shares were withheld at a price of $26.81 per share to cover tax liabilities associated with the vesting.
After these transactions, Deneke directly held 290,708 shares of common stock and 283,556 corporation restricted stock units. Each corporation restricted stock unit is economically equivalent to one share of common stock and is settled in stock or cash upon vesting, with related distribution equivalent rights that pay accumulated distributions in cash on the vesting date.
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FAQ
What insider activity did Summit Midstream Corp (SMC) report for J. Heath Deneke?
The filing reports that J. Heath Deneke, Chairman, President and CEO of Summit Midstream Corp, had 32,754 corporation restricted stock units convert into 32,754 shares of common stock and 8,216 common shares withheld to cover tax liabilities on January 16, 2026.
How many Summit Midstream Corp (SMC) shares does J. Heath Deneke hold after the Form 4 transactions?
After the reported transactions, J. Heath Deneke directly held 290,708 shares of common stock and 283,556 corporation restricted stock units, as disclosed in the filing.
What price was used to withhold Summit Midstream Corp (SMC) shares for taxes?
The filing shows that 8,216 common shares were withheld at a price of $26.81 per share to satisfy tax liabilities related to the vesting event.
What are Summit Midstream Corp corporation restricted stock units reported in this Form 4?
The corporation restricted stock units are equity awards where each unit is economically equivalent to one share of common stock and is settled in common stock or cash upon vesting, at the issuer’s discretion. They also carry distribution equivalent rights that pay cash equal to accrued distributions at vesting.
When did the reported Summit Midstream Corp (SMC) restricted stock units vest?
The filing states that one-third of the corporation restricted stock units subject to the original award agreement vested on January 16, 2026, with remaining units scheduled to vest on the third anniversary of the January 18, 2024 reference date, subject to continued employment.
Does the CEO’s Form 4 indicate a market sale of Summit Midstream Corp (SMC) shares?
The filing describes shares coded as F, which are common shares withheld to pay tax liability in connection with the vesting of equity awards, rather than an open-market sale initiated for investment purposes.