Form 4: Hess Midstream LP: Major Share Reallocation as Hess Infrastructure Partners GP LLC Adjusts Holdings

Hess Infrastructure Partners GP LLC reports significant changes in beneficial ownership of Hess Midstream LP shares, including the cancellation and transfer of Class B shares.

Summary

• Hess Infrastructure Partners GP LLC, along with Hess Midstream GP LLC and Hess Midstream GP LP, filed a Form 4 detailing changes in beneficial ownership of Hess Midstream LP [HESM] securities.
• On May 31, 2024, 20,000,000 Class B shares were disposed of at $0 per share.
• On June 3, 2024, an additional 3,000,000 Class B shares were disposed of at $0 per share.
• These transactions resulted in Hess Midstream GP LP holding 96,105,200 Class B shares and 898,000 Class A shares indirectly.
• The changes reflect the cancellation of 11,500,000 Class B shares due to the conversion of Opco Class B Units into Class A Shares and the transfer of 11,500,000 Class B Shares from Hess Midstream GP LP to Hess Investments North Dakota LLC.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing changes in share ownership. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.

Stakeholder Impact

• Shareholders may be interested in the changes in ownership structure, particularly the transfer of shares to Hess Investments North Dakota LLC.
• The conversion of Opco Class B Units into Class A Shares could impact the overall share structure and potentially affect voting rights.

Key Dates