Western Midstream Partners (WES) CFO reports new equity grants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Western Midstream Partners’ SVP & Chief Financial Officer Kristen S. Shults reported multiple equity award activities dated February 12, 2026. She exercised previously granted phantom and performance units into WES common units and had a portion of those units withheld to cover tax obligations at a price of $42.35 per unit. Shults also received new long-term incentives, including 35,419 2026 Phantom Units and 17,710 units each of 2026 Performance Unit awards tied to total unitholder return and return on assets. Following these transactions, she continues to hold a substantial direct position in WES common units and a mix of outstanding phantom and performance-based derivative awards that vest over multi-year periods based on continued service and pre-established performance metrics.
Positive
- None.
Negative
- None.
Insider Trade Summary
91,788 shares exercised/converted
Mixed
22 txns
Insider
Shults Kristen S.
Role
SVP & Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2023 Phantom Units | 10,819 | $0.00 | -- |
| Exercise | 2023 Performance Unit - TUR | 25,316 | $0.00 | -- |
| Exercise | 2023 Performance Unit - ROA | 30,704 | $0.00 | -- |
| Exercise | 2024 Phantom Units | 14,940 | $0.00 | -- |
| Exercise | 2025 Phantom Units | 10,009 | $0.00 | -- |
| Grant/Award | 2026 Phantom Units | 35,419 | $0.00 | -- |
| Grant/Award | 2026 Performance Unit - TUR | 17,710 | $0.00 | -- |
| Grant/Award | 2026 Performance Unit - ROA | 17,710 | $0.00 | -- |
| Exercise | Common Units representing limited partner interests | 10,819 | $0.00 | -- |
| Tax Withholding | Common Units representing limited partner interests | 4,258 | $42.35 | $180K |
| Exercise | Common Units representing limited partner interests | 14,940 | $0.00 | -- |
| Tax Withholding | Common Units representing limited partner interests | 5,879 | $42.35 | $249K |
| Exercise | Common Units representing limited partner interests | 10,009 | $0.00 | -- |
| Tax Withholding | Common Units representing limited partner interests | 3,939 | $42.35 | $167K |
| Exercise | Common Units representing limited partner interests | 25,316 | $0.00 | -- |
| Tax Withholding | Common Units representing limited partner interests | 9,962 | $42.35 | $422K |
| Exercise | Common Units representing limited partner interests | 30,704 | $0.00 | -- |
| Tax Withholding | Common Units representing limited partner interests | 12,127 | $42.35 | $514K |
| holding | 2024 Performance Unit - TUR | -- | -- | -- |
| holding | 2024 Performance Unit - ROA | -- | -- | -- |
| holding | 2025 Performance Unit-TUR | -- | -- | -- |
| holding | 2025 Performance Unit-ROA | -- | -- | -- |
Holdings After Transaction:
2023 Phantom Units — 0 shares (Direct);
2023 Performance Unit - TUR — 0 shares (Direct);
2023 Performance Unit - ROA — 0 shares (Direct);
2024 Phantom Units — 14,939 shares (Direct);
2025 Phantom Units — 20,017 shares (Direct);
2026 Phantom Units — 35,419 shares (Direct);
2026 Performance Unit - TUR — 17,710 shares (Direct);
2026 Performance Unit - ROA — 17,710 shares (Direct);
Common Units representing limited partner interests — 98,948 shares (Direct);
2024 Performance Unit - TUR — 22,409 shares (Direct);
2024 Performance Unit - ROA — 22,409 shares (Direct);
2025 Performance Unit-TUR — 15,013 shares (Direct);
2025 Performance Unit-ROA — 15,013 shares (Direct)
Footnotes (1)
- Each Phantom Unit is the economic equivalent of one WES Common Unit representing limited partnership interests, and upon vesting, will entitle the holder to receive a common unit or, at the discretion of the Board of Directors of the General Partner, cash equal to the Fair Market Value of a Common Unit. These Phantom Units vest ratably over a three-year period on February 12th of each year, and will pay distribution equivalent rights in cash on a current basis. Each performance-based unit represents the right to receive, following vesting, between 0% and 200% of one WES Common Unit based upon the achievement of pre-established performance metrics over a 3-year performance period. Each performance-based unit represents the right to receive, following vesting, between 0% and 200% of one WES Common Unit (or cash equivalent) based upon the achievement of pre-established performance metrics over a 3-year performance period.
FAQ
What insider transactions did WES CFO Kristen S. Shults report on this Form 4?
Kristen S. Shults reported exercising multiple phantom and performance unit awards into WES common units and having some units withheld to satisfy taxes at $42.35 per unit. She also received new 2026 phantom and performance-based equity awards, all held as direct ownership.
How many new 2026 equity awards did the WES CFO receive in this filing?
The CFO received 35,419 2026 Phantom Units and 17,710 units each of 2026 Performance Unit awards linked to total unitholder return and return on assets. These awards vest over a three-year period ending on February 12, 2029 based on service and performance.
What price was used for WES units withheld to cover the CFO’s tax obligations?
Common units were withheld for tax purposes at a price of $42.35 per unit. These dispositions, coded “F,” represent payment of tax liabilities using units received from award exercises, rather than open-market sales, and reduced the number of common units held after each transaction.
How do WES phantom units work for the CFO’s reported awards?
Each phantom unit is the economic equivalent of one WES common unit and, upon vesting, delivers either a common unit or cash equal to its fair market value. These phantom units vest ratably over three years on February 12 annually and pay cash distribution equivalents currently.
What performance conditions apply to the WES CFO’s performance unit awards?
Each performance unit entitles the holder to receive between 0% and 200% of one WES common unit after vesting. The payout depends on meeting pre-established performance metrics, including total unitholder return and return on assets, measured over a three-year performance period ending on the relevant February 12 date.
Did the WES CFO report direct or indirect ownership of these securities?
All securities in this Form 4 are reported as held under direct ownership by Kristen S. Shults. The filing does not indicate any indirect holdings through separate entities, and the footnotes describe only the economic terms and vesting mechanics of the phantom and performance-based units.