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Summit Midstream Corp Senior VP and CAO Matthew B. Sicinski reported equity compensation activity involving restricted stock units (RSUs) and common stock. He received two RSU awards of 5,692 units each on March 16, 2026, each unit economically equivalent to one share of common stock.
On March 13, 2026, multiple RSU tranches totaling 10,824 units were exercised into common stock, and 2,666 common shares were withheld at $30.29 per share to satisfy tax liabilities. Following these transactions, he directly holds 39,505 common shares. Footnotes describe time-based and performance-based vesting schedules, distribution equivalent rights (DERs), and a prior award certified at 96.7% of target, with the remaining 3.3% forfeited.
Summit Midstream Corp Executive VP and CFO William J. Mault reported a series of equity compensation moves. On March 16, 2026, he received two awards of 18,071 corporation restricted stock units each, economically equivalent to common stock and accompanied by distribution equivalent rights (DERs). These RSUs include time-based vesting over three years and a separate performance-based tranche tied to results from January 1, 2026 through December 31, 2028.
On March 13, 2026, earlier RSU tranches vested and were settled into common stock via exercises of 16,522, 4,793 and 8,542 units, with a total of 11,751 common shares withheld at $30.29 per share to cover tax liabilities. After these transactions, Mault holds 88,694 shares of common stock directly, along with multiple RSU tranches scheduled to vest over future dates or based on performance outcomes.
Summit Midstream Corp executive James David Johnston reported compensation-related equity activity. On March 16, 2026, he received two grants of 17,544 corporation restricted stock units each, which are economically equivalent to common stock and vest over time or based on performance conditions.
On March 13, 2026, multiple tranches of previously awarded restricted stock units vested and were settled one-for-one into 18,977, 4,653, and 9,793 shares of common stock. To cover tax liabilities, a total of 13,153 common shares were withheld at a price of $30.29 per share, rather than sold in the open market.
After these transactions, Johnston directly holds 77,957 shares of common stock and 90,734 corporation restricted stock units, which include other outstanding tranches with different vesting schedules and associated distribution equivalent rights that pay accrued distributions in cash upon vesting.
Summit Midstream Corp Chairman, President and CEO Heath Deneke reported a mix of equity awards and vesting activity. On March 16, 2026, he received two grants of corporation restricted stock units totaling 119,614 units, each economically equivalent to one share of common stock.
Earlier, on March 13, 2026, 103,939 corporation restricted stock units vested and were settled into common stock through derivative exercises. To cover tax liabilities, 40,297 common shares were withheld at a price of $30.29 per share. Following these transactions, he directly held 354,350 shares of common stock.
Summit Midstream Corporation outlines a transformative 2025, highlighting acquisitions, refinancing, and contract wins across its U.S. midstream network. The company operates gas, crude oil, and produced water gathering and the Double E interstate pipeline, primarily under long-term, fee-based agreements that support more stable cash flows.
Summit completed the $90.0 million Moonrise Midstream acquisition, expanding its DJ Basin footprint with added processing capacity and flow assurance. It also continued integrating Moonrise and Tall Oak, targeting operating synergies such as more efficient compression use.
The board resumed quarterly cash dividends on Series A Preferred Stock, paying $13.4 million in 2025 and approving payment of $46.6 million of accrued dividends outstanding as of December 31, 2025. Management emphasizes capital structure optimization, including debt reduction and selective asset sales or purchases.
In the Permian, Summit’s 70%-owned Double E Pipeline is underpinned by 1.1 Bcf/d of long-term take-or-pay contracts and added new firm-capacity agreements extending into the late 2020s. A $440.0 million refinancing of the Permian Transmission Credit Facilities into a new term loan maturing in 2031 repaid prior facilities and redeemed subsidiary preferred units, extending debt maturities.
Summit Midstream Corporation reported a fourth quarter 2025 net loss of $7.3 million but generated Adjusted EBITDA of $58.5 million, Distributable Cash Flow of $33.7 million and Free Cash Flow of $17.0 million. For full-year 2025, Adjusted EBITDA was $242.6 million, up from $204.6 million.
The company highlighted strong Permian growth, expecting its 70% interest in Double E Pipeline Segment Adjusted EBITDA to rise from $34 million in 2025 to about $60 million in 2029, backed by several new 10+ year take-or-pay contracts. It also executed a $440 million Double E refinancing, including an $85 million distribution to repay approximately $45 million of accrued Series A Preferred dividends and about $40 million of ABL borrowings, reducing its total leverage ratio from 4.1x to 3.9x.
For 2026, Summit guided to Adjusted EBITDA of $225 million to $265 million and capital expenditures of $50 million to $70 million, excluding $35 million of Double E capex. The outlook assumes 116 to 126 well connections, natural gas throughput of 875 to 920 MMcf/d and liquids volumes of 65 to 90 Mbbl/d.
Summit Midstream Corp Executive VP and CFO William J. Mault reported equity compensation activity on a Form 4 dated January 16, 2026. He acquired 10,121 shares of common stock through the vesting and settlement of an equal number of corporation restricted stock units, which are the economic equivalent of common stock on a one-for-one basis.
To cover tax obligations from this vesting, 2,757 common shares were withheld at a price of $26.81 per share. After these transactions, Mault directly beneficially owned 70,588 shares of common stock and 84,746 corporation restricted stock units, which include multiple tranches with different vesting dates. The remaining restricted stock units and associated distribution equivalent rights do not expire and will settle in stock or cash upon future vesting, at the issuer’s discretion.
Summit Midstream Corp executive Matthew B. Sicinski, Senior VP and CAO, reported equity award activity and related tax withholding. On January 16, 2026, 3,593 corporation restricted stock units were exercised and converted to common stock at an exercise price of $0, reflecting the vesting of part of a prior award. Each unit is economically equivalent to one share of common stock.
On the same date, 1,066 common shares were withheld at $26.81 per share to cover tax liabilities tied to the vesting. After these transactions, Sicinski directly owned 31,347 common shares and 29,362 corporation restricted stock units, which will vest over time under earlier grant terms and may settle in shares or cash at the issuer’s discretion.
Summit Midstream Corp executive James David Johnston reported equity award activity. On January 16, 2026, 10,794 corporation restricted stock units vested and were converted into an equal number of common shares at an exercise price of $0. Of these, 2,923 common shares were withheld at $26.81 per share to cover tax obligations, leaving Johnston with 57,687 common shares held directly after the transactions.
Each corporation restricted stock unit equals one share of common stock, and the vested units were part of an award where one-third vested on January 16, 2026, with the remaining units scheduled to vest on the third anniversary of the January 18, 2024 reference date, subject to continued employment. After this vesting event, Johnston also held 89,717 corporation restricted stock units, which include other tranches with different vesting dates and are settled in stock or cash at the issuer’s discretion.
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.