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    Executive VP, GC, CCO and Secy Johnston James David converted options into 19,355 shares and covered exercise/tax liability with 5,724 shares, increasing direct ownership by 38% to 49,816 units (SEC Form 4)

    3/18/25 8:53:07 PM ET
    $SMC
    Natural Gas Distribution
    Utilities
    Get the next $SMC alert in real time by email
    SEC FORM 4 SEC Form 4
    FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549

    STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
    or Section 30(h) of the Investment Company Act of 1940
    OMB APPROVAL
    OMB Number: 3235-0287
    Estimated average burden
    hours per response: 0.5
      
    Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
      
    Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
    1. Name and Address of Reporting Person*
    Johnston James David

    (Last) (First) (Middle)
    C/O SUMMIT MIDSTREAM CORPORATION
    910 LOUISIANA STREET, SUITE 4200

    (Street)
    HOUSTON TX 77002

    (City) (State) (Zip)
    2. Issuer Name and Ticker or Trading Symbol
    Summit Midstream Corp [ SMC ]
    5. Relationship of Reporting Person(s) to Issuer
    (Check all applicable)
    Director 10% Owner
    X Officer (give title below) Other (specify below)
    Executive VP, GC, CCO and Secy
    3. Date of Earliest Transaction (Month/Day/Year)
    03/14/2025
    4. If Amendment, Date of Original Filed (Month/Day/Year)
    6. Individual or Joint/Group Filing (Check Applicable Line)
    X Form filed by One Reporting Person
    Form filed by More than One Reporting Person
    Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
    1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
    Code V Amount (A) or (D) Price
    Common Stock 03/15/2025 M 5,544 A (1) 41,729 D
    Common Stock 03/15/2025 F 1,350(2) D $37.44 40,379 D
    Common Stock 03/15/2025 M 4,018 A (1) 44,397 D
    Common Stock 03/15/2025 F 979(2) D $37.44 43,418 D
    Common Stock 03/15/2025 M 9,793 A (1) 53,211 D
    Common Stock 03/15/2025 F 3,395(2) D $37.44 49,816 D
    Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
    (e.g., puts, calls, warrants, options, convertible securities)
    1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
    Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
    Corporation Restricted Stock Units (1) 03/14/2025 A 13,958 (3) (4) Common Stock 13,958 $0 105,908 D
    Corporation Restricted Stock Units (1) 03/14/2025 A 13,958 (5) (4) Common Stock 13,958 $0 119,866 D
    Corporation Restricted Stock Units (1) 03/15/2025 M 5,544 (6) (4) Common Stock 5,544 $0 114,322 D
    Corporation Restricted Stock Units (1) 03/15/2025 M 4,018 (7) (4) Common Stock 4,018 $0 110,304 D
    Corporation Restricted Stock Units (1) 03/15/2025 M 9,793 (8) (4) Common Stock 9,793 $0 100,511 D
    Explanation of Responses:
    1. Each corporation restricted stock unit is the economic equivalent of one common stock.
    2. Common stocks being withheld to pay tax liability.
    3. One-third of the corporation restricted stock units (rounded down to the nearest whole number of units, except in the case of the final vesting date) shall vest on each of the first, second and third anniversaries of the March 14, 2025, reference date, subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive distribution equivalent rights ("DERs") for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.
    4. The corporation restricted stock units and associated DERs do not expire. The corporation restricted stock units are settled upon vesting in common stocks (on a one-for-one basis) or in cash, at the discretion of the Issuer.
    5. The corporation restricted stock units shall vest if and to the extent that the corporation restricted stock units are earned during the performance period from January 1, 2025 through December 31, 2027, which will depend on whether the performance criteria are achieved as determined by the committee as soon as reasonably practicable, but no later than sixty (60) days following December 31, 2027, the last day of the Performance Period. The vesting of the corporation restricted stock units is subject to continued employment and accelerated vesting as provided in the applicable award agreement. The Reporting Person will receive DERs for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.
    6. The final one-third of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, the third anniversary of the March 15, 2022, reference date. The Reporting Person received DERs for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.
    7. The final twenty percent of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, the third anniversary of the March 15, 2022, reference date. The Reporting Person received DERs for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.
    8. One-third of the corporation restricted stock units subject to the original award agreement vested on March 15, 2025, and the final one-third of the corporation restricted stock units shall vest on the third anniversary of the March 15, 2023, reference date, subject to continued employment. The Reporting Person received DERs for each corporation restricted stock unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the corporation restricted stock units.
    Remarks:
    /s/ James David Johnston 03/18/2025
    ** Signature of Reporting Person Date
    Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
    * If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
    ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
    Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
    Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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