Form 4: Hess Midstream LP: Hess Corp and Hess Investments North Dakota LLC Report Changes in Beneficial Ownership

Hess Corp and Hess Investments North Dakota LLC report changes in beneficial ownership of Hess Midstream LP securities, including cancellation and transfer of Class B Shares and Opco Class B Units.

Summary

• Hess Corp and Hess Investments North Dakota LLC filed a Form 4 detailing changes in their beneficial ownership of Hess Midstream LP securities on September 11, 2024.
• The transactions include the cancellation of 1,061,782 Class B Shares related to Hess Midstream Operations LP's repurchase of Opco Class B Units.
• Additionally, 699,698 Class B Shares were transferred from Hess Midstream GP LP to Hess Investments North Dakota LLC.
• Following these transactions, Hess Corp beneficially owns 44,591,539 Class B Shares indirectly through Hess Midstream GP LP and 37,394,148 Class B Shares indirectly through HINDL.
• Hess Corp also indirectly owns 449,000 Class A Shares through Hess Midstream GP LP.
• Hess Investments North Dakota LLC indirectly owns 81,985,687 Opco Class B Units.

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing detailing changes in ownership. It doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies and their significant shareholders, providing transparency into changes in ownership positions. This filing indicates internal restructuring and adjustments within the Hess Midstream LP ownership structure.

Stakeholder Impact

• The changes in beneficial ownership may be of interest to shareholders, as they provide insight into the holdings of major stakeholders like Hess Corp.

Key Dates