Form 4: DT Midstream Executive Wendy Ellis Reports Stock Award and Tax Withholding

Wendy Ellis, E.V.P., Gen Counsel & Corp Sec of DT Midstream, reports acquisition of shares through performance stock units and disposition of shares for tax withholding.

Summary

• On February 25, 2025, Wendy Ellis, E.V.P., Gen Counsel & Corp Sec of DT Midstream, acquired 18,208 shares of common stock related to performance stock units.
• These shares were awarded based on the achievement of performance conditions as certified by the Organization and Compensation Committee.
• Also on February 25, 2025, Ms. Ellis disposed of 9,751 shares of common stock at a price of $95.8 for tax withholding purposes.
• Ms. Ellis was also granted 3,420 restricted stock units (RSUs) which will vest on February 25, 2028, contingent upon continued employment.
• Each RSU represents the right to receive one share of DT Midstream common stock, with fractional shares paid in cash.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It reflects standard executive compensation practices and insider transactions. The stock award is a positive, but the tax withholding is a neutral event.

Positives

• The acquisition of shares through performance stock units suggests that performance goals were met, which could be viewed positively.
• The grant of restricted stock units incentivizes continued employment and alignment with the company's long-term success.

Negatives

• The disposition of shares for tax withholding, while a normal occurrence, reduces the executive's holdings.

Future Outlook

The restricted stock units will vest on February 25, 2028, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. This filing indicates standard practices for equity-based compensation at DT Midstream.

Stakeholder Impact

• Shareholders may view the stock award as a positive sign of management performance.
• Employees may be motivated by the equity-based compensation structure.

Key Dates