Form 4: Western Midstream Partners Executive Acquires Additional Common Units

Robert W. Bourne, SVP & Chief Commercial Officer of Western Midstream Partners, acquired additional common units through the company's distribution reinvestment plan.

Summary

• On May 15, 2024, Robert W. Bourne, SVP & Chief Commercial Officer of Western Midstream Partners, acquired 1,353.873 common units at a price of $37.249 per unit.
• This acquisition was made through the company's distribution reinvestment plan.
• Following the transaction, Bourne directly owns 130,624.873 common units.
• Bourne also holds various phantom units and performance units that will vest in the future and are the economic equivalent of common units.

Sentiment

Score: 6

Explanation: The document is neutral to slightly positive. The executive's purchase indicates confidence, but it's a routine transaction.

Positives

• Executive's participation in the distribution reinvestment plan signals confidence in the company's future.
• Increased ownership aligns executive's interests with those of other unitholders.

Future Outlook

The document does not contain specific forward-looking statements, but it does detail future vesting dates for phantom and performance units.

Industry Context

Insider transactions are common in publicly traded companies and are closely monitored by regulators and investors for signals about a company's prospects. Purchases by executives can be seen as a positive sign.

Comparison to Industry Standards

• Distribution reinvestment plans are a common way for investors, including executives, to increase their holdings in a company.
• The vesting schedules for phantom and performance units are typical for executive compensation packages in the energy industry, often tied to company performance over a multi-year period.
• Comparable companies such as Enterprise Products Partners (EPD) and MPLX LP (MPLX) also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholder sentiment due to the executive's increased investment in the company.

Key Dates