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

Hess Infrastructure Partners GP LLC reports a significant transaction involving Class B Shares and Opco Class B Units, impacting its beneficial ownership in Hess Midstream LP.

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].
• On February 12, 2025, 22,000,000 Class B Shares were disposed of, including 11,000,000 cancelled for no consideration due to the conversion of Opco Class B Units into Class A Shares.
• An additional 11,000,000 Class B Shares were transferred from Hess Midstream GP LP to Hess Investments North Dakota LLC for no consideration.
• Following these transactions, Hess Infrastructure Partners GP LLC indirectly beneficially owns 38,672,806 Class B Shares and 898,000 Class A Shares through its ownership stake in Hess Midstream GP LP.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing detailing share transactions. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Industry Context

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

Related Party Transactions

• The transfer of 11,000,000 Class B Shares from Hess Midstream GP LP to Hess Investments North Dakota LLC is a related party transaction.

Stakeholder Impact

• The conversion of Opco Class B Units into Class A Shares may have a slight impact on the overall share structure, but the impact on stakeholders is likely minimal.

Key Dates