Western Midstream Partners, LP President and CEO Oscar K. Brown filed a Form 4 on October 29, 2026, disclosing transactions in common units and phantom units dated October 28, 2026.

Key Highlights

  • Phantom unit conversion: Brown acquired 52,659 common units representing limited partner interests via an M-coded transaction at $0 per unit on October 28, 2026.
  • Tax withholding disposal: 23,039 common units were disposed of (transaction code F) at $45.03 per unit on the same date.
  • Remaining direct holdings: Following the transactions, Brown directly holds 115,060 common units.
  • 2024 Phantom Units vested: 52,659 phantom units from the 2024 grant were converted, with 52,659 remaining, vesting ratably over three years on October 28th each year.
  • Additional unvested derivative holdings: Brown holds 48,041 phantom units (2025 grant) and 94,451 phantom units (2026 grant), plus performance units across four categories totaling 166,516 underlying common units at target.

Brown's October 2026 Unit Transactions at Western Midstream Partners

According to the filing, Oscar K. Brown, who serves as both a Director and President and CEO of Western Midstream Partners, LP (NYSE:WES), reported two transactions on October 28, 2026. First, 52,659 common units representing limited partner interests were acquired through an M-coded transaction, reflecting the conversion of 2024 Phantom Units at a price of $0. This increased his directly held common units to 138,099 before the second transaction.

The second transaction, coded F, recorded the disposal of 23,039 common units at $45.03 per unit, a transaction type typically used to report shares withheld for tax obligations. Following both transactions, the filing states Brown directly owns 115,060 common units.

In Table II, the filing discloses Brown's remaining derivative securities. The 2024 Phantom Units grant shows 52,659 units still outstanding, vesting ratably on October 28th each year over three years. The 2025 and 2026 Phantom Unit grants carry 48,041 and 94,451 units, respectively, vesting on February 12th each year. The filing also lists four categories of performance-based units: 2025 Performance Unit-ROA (36,032 units), 2025 Performance Unit-TUR (36,032 units), 2026 Performance Unit-ROA (47,226 units), and 2026 Performance Unit-TUR (47,226 units). According to the filing, each performance-based unit entitles the holder to receive between 0% and 200% of one WES common unit based on pre-established performance metrics over a three-year performance period.

What Was Disclosed

The filing reports Brown's conversion of 52,659 phantom units into common units and the subsequent disposal of 23,039 units at $45.03, leaving him with 115,060 directly held common units, alongside substantial unvested phantom and performance unit holdings.