Form 4: Summit Midstream Executive VP Sells 20,000 Shares Under 10b5-1 Plan

James David Johnston, Executive VP, GC, CCO and Secretary of Summit Midstream Corp, sold 20,000 shares of common stock at an average price of $36.20, as part of a pre-arranged 10b5-1 trading plan.

Summary

• James David Johnston, an Executive VP at Summit Midstream Corp, sold 20,000 shares of the company's common stock.
• The sale occurred on December 12, 2024.
• The shares were sold at a weighted average price of $36.20.
• The sale was executed under a pre-arranged trading plan (Rule 10b5-1).
• Following the transaction, Johnston directly owns 28,201 shares of Summit Midstream Corp.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of an insider stock sale under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Industry Context

Insider trading activity is a common occurrence in publicly traded companies, and this transaction is a routine disclosure of such activity. The use of a 10b5-1 plan indicates that the sale was pre-planned and not based on any material non-public information.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting insider transactions in publicly traded companies in the US.
• The use of a 10b5-1 trading plan is a common method for executives to sell shares without raising concerns about insider trading.
• The reported price range of $35.88 to $36.65 is typical for market transactions of this nature.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on investor sentiment, but the pre-planned nature of the sale mitigates any significant concerns.

Key Dates

Keywords

insider trading, Form 4, stock sale, 10b5-1 plan, Summit Midstream Corp, executive transaction, equity securities