Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, onNovember 29, 2022 , the Compensation Committee (the "Compensation Committee") of the Board of Directors (the "Board") ofSummit Midstream GP, LLC , the general partner (the "General Partner") ofSummit Midstream Partners, LP ("SMLP" or the "Partnership"), approved a compensation program pursuant to which each member of the Partnership's senior management, including the Partnership's executive officers, were given the opportunity to elect to forfeit none, 50% or 100% of each vesting tranche of his or her previously disclosed outstanding retention cash component awards granted in each of 2020, 2021 and 2022 under theSummit Midstream Partners, LP 2012 Long-Term Incentive Plan in exchange for phantom units to be granted under theSummit Midstream Partners, LP 2022 Long-Term Incentive Plan (the "Plan"). The Compensation Committee made available a maximum of 300,000 phantom units for the program. OnDecember 9, 2022 , the program concluded, with the elections made onDecember 6, 2022 for phantom units in the aggregate for all senior management participants exceeding the 300,000 maximum. After proportional reductions to electing participants and rounding down for fractional units, a total of 299,981 phantom units were granted at a volume weighted average price of$18.9935 per unit for the three trading days ending on and includingDecember 9, 2022 . Below is a summary of phantom units granted and held for certain executive officers of the General Partner that participated in the cash for phantom unit exchange. Total phantom and Total phantom and common units held common units held at Cash retention prior to December 9, the end of day Name and Title forfeited Phantom units granted 2022 December 9, 2022J. Heath Deneke , President, Chief Executive Officer and Director$ 3,332,106 175,434 237,256 412,690William J. Mault , Executive Vice President and Chief Financial Officer$ 637,441 33,561 23,372 56,933James Johnston , Executive Vice President, General Counsel and Chief Compliance Officer$ 505,151 26,596 57,672 84,268
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number Description 104 Cover Page Interactive Data File - the cover
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within the Inline XBRL document 1
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