Summit Midstream (SMC) SVP nets 3,593 shares, sells 1,066 for tax
Rhea-AI Filing Summary
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Corporation Restricted Stock Units | 3,593 | $0.00 | -- |
| Exercise | Common Stock | 3,593 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,066 | $26.81 | $29K |
Footnotes (1)
- Each corporation restricted stock unit is the economic equivalent of one common stock. Common stocks being withheld to pay tax liability. One-third of the corporation restricted stock units subject to the original award agreement vested on January 16, 2026, with the remaining corporation restricted stock units subject to vesting on the third anniversary of the January 18, 2024 reference date, subject to continued employment. The Reporting Person received distribution equivalent rights ("DERs") for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units. The corporation restricted stock units and associated DERs do not expire. The corporation restricted stock units are settled upon vesting in common stocks (on a one-for-one basis) or in cash, at the discretion of the Issuer. This total includes corporation restricted stock units from other tranches with different vesting dates.
FAQ
What insider transaction did Summit Midstream Corp (SMC) report for Matthew B. Sicinski?
The filing shows that Matthew B. Sicinski, Senior VP and CAO of Summit Midstream Corp, had 3,593 corporation restricted stock units vest and convert into common stock on January 16, 2026, followed by the withholding of 1,066 common shares to satisfy tax obligations.
How many Summit Midstream Corp (SMC) restricted stock units vested in this Form 4?
On January 16, 2026, 3,593 corporation restricted stock units vested and were exercised at an exercise price of $0, converting into an equal number of Summit Midstream Corp common shares.
How many Summit Midstream Corp (SMC) restricted stock units does the insider still hold?
Following the vesting of 3,593 units, the Form 4 states that Sicinski beneficially owned 29,362 corporation restricted stock units, which include tranches with different vesting dates.
How are Summit Midstream Corp (SMC) restricted stock units settled for this insider?
The footnotes explain that each corporation restricted stock unit is economically equivalent to one common share and is settled upon vesting in common stock on a one-for-one basis or in cash, at Summit Midstream Corp’s discretion. The units and related distribution equivalent rights do not expire.