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.
• 2,038,956 Class B Shares were cancelled for no consideration in connection with Hess Midstream Operations LP's repurchase of 2,038,956 Opco Class B Units from Hess Investments North Dakota LLC (HINDL).
• HINDL subsequently cancelled the repurchased Opco Class B Units.
• 1,073,930 Class B Shares were transferred from Hess Midstream GP LP to HINDL for no consideration.
• Following these transactions, Hess Corp beneficially owns 14,573,517 Class B Shares indirectly through Hess Midstream GP LP and 64,405,673 Class B Shares indirectly through HINDL.
• Hess Corp also indirectly owns 449,000 Class A Shares through Hess Midstream GP LP.
• HINDL indirectly owns 78,979,190 Opco Class B Units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding changes in beneficial ownership by company insiders, ensuring fair market practices.

Stakeholder Impact

• The changes in beneficial ownership may be of interest to shareholders of Hess Midstream LP.
• The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Hess Midstream LP, Hess Corp, beneficial ownership, Class B Shares, Opco Class B Units, Hess Investments North Dakota LLC, HINDL, Hess Midstream GP LP, repurchase, transfer, Form 4