Form 4: Hess Midstream LP: Significant Ownership Changes Reported by Hess Infrastructure Partners GP LLC

Hess Infrastructure Partners GP LLC reports a transaction involving the cancellation and transfer of Class B Shares, 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 September 20, 2024, 25,300,000 Class B Shares were disposed of at a price of $0.
• This disposal includes the cancellation of 12,650,000 Class B Shares related to the conversion of Opco Class B Units into Class A Shares.
• It also includes the transfer of 12,650,000 Class B Shares 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 63,883,078 Class B Shares and 898,000 Class A Shares through its ownership stake in Hess Midstream GP LP.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing ownership changes, with no inherent positive or negative sentiment.

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 12,650,000 Class B Shares from Hess Midstream GP LP to Hess Investments North Dakota LLC is a related party transaction.

Stakeholder Impact

• The changes in beneficial ownership may be of interest to shareholders, but the transactions described appear to be internal restructuring and are unlikely to have a significant immediate impact.

Key Dates