Form 4: Hess Midstream LP: Significant Changes in Beneficial Ownership Reported

Hess Infrastructure Partners GP LLC reports adjustments in Class A and B shares of Hess Midstream LP due to unit repurchases and transfers.

Summary

• Hess Infrastructure Partners GP LLC filed a Form 4 detailing changes in beneficial ownership of Hess Midstream LP [HESM] shares.
• The report indicates a transaction date of September 11, 2024.
• 2,823,262 Class B Shares were cancelled for no consideration in connection with Hess Midstream Operations LP's repurchase of Opco Class B Units.
• These units were repurchased from Hess Investments North Dakota LLC (HINDL) and GIP II Blue Holding, L.P.
• 699,698 Class B Shares were transferred from Hess Midstream GP LP to HINDL for no consideration.
• Following these transactions, Hess Infrastructure Partners GP LLC indirectly owns 89,183,078 Class B Shares and 898,000 Class A Shares through Hess Midstream GP LP.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

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

Related Party Transactions

• The cancellation of Class B Shares is related to Hess Midstream Operations LP's repurchase of Opco Class B Units from Hess Investments North Dakota LLC (HINDL) and GIP II Blue Holding, L.P.
• The transfer of Class B Shares from Hess Midstream GP LP to HINDL is also a related party transaction.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in share distribution.
• The impact on other stakeholders is likely minimal.

Key Dates