Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Effective November 18, 2020, DCP Midstream, LLC ("DCP Midstream"), the owner of
DCP Midstream GP, LLC (the "General Partner"), the general partner of the
general partner of DCP Midstream, LP (the "Partnership"), appointed Heather
Crowder to a vacancy on the Board of Directors (the "Board") of the General
Partner to serve as a representative of Phillips 66. Ms. Crowder has not been
appointed to any committee of the Board at this time.
Ms. Crowder currently serves as Vice President and General Tax Officer for
Phillips 66. Before joining Phillips 66 in January 2018, Ms. Crowder served as
managing tax counsel, corporate, for five years at ConocoPhillips. Prior to
that, she worked 15 years at KPMG where she became a tax partner.
Ms. Crowder will not receive compensation for serving on the Board other than
through her employment with Phillips 66. Since the beginning of the
Partnership's last fiscal year, Ms. Crowder and her immediate family members do
not have any direct or indirect material interest in any existing or proposed
transaction, arrangement, or relationship with the General Partner or the
Partnership or any director or executive officer of the General Partner or
immediate family member thereof in which the amount involved exceeds $120,000.
DCP Midstream owns 100% of the General Partner, which allows it to control the
Partnership, and also owns approximately 57% of the Partnership. DCP Midstream
is a joint venture equally owned by Enbridge and Phillips 66. For relationships
among the Partnership, the General Partner, and DCP Midstream and its
affiliates, see Item 13 "Certain Relationships and Related Transactions, and
Director Independence", which is incorporated herein by reference from the
Partnership's Annual Report on Form 10-K, filed with the Securities and Exchange
Commission on February 21, 2020.
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