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Filing Details

Accession Number:: 0001104659-20-074673
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-06-18 16:30:33
Reporting Period:: 2020-03-05

Accepted Time:: 2020-06-18 16:30:33
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1747009	Equitrans Midstream Corp	ETRN	Crude Petroleum & Natural Gas (1311)	PA

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
33213	Eqt Corp	625 Liberty Avenue, Suite 1700 Pittsburgh PA 15222		No	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2020-03-05	25,299,752	$0.00	25,299,751	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct

Footnotes

On November 12, 2018, EQT Corporation (the Reporting Person) completed the spin-off of Equitrans Midstream Corporation (the Company) through the distribution of approximately 80.1% of the outstanding shares of common stock, no par value, of the Company (Company Common Stock) to the Reporting Person's shareholders (the Distribution). Immediately following the Distribution, the Reporting Person owned 50,599,503 shares of Company Common Stock, or approximately 19.9% of the shares of Company Common Stock outstanding as of such time. On February 26, 2020, the Reporting Person entered into share purchase agreements with the Company, pursuant to which the Reporting Person agreed to sell to the Company
(i) 4,769,496 shares of Company Common Stock in exchange for approximately $46 million in cash and (ii) 20,530,256 shares of Company Common Stock in exchange for a promissory note issued by the Company (the Rate Relief Note) representing approximately $196 million in aggregate principal amount, and cash in the amount of approximately $7 million ((i) and (ii) collectively, the Share Exchange). On March 5, 2020, the Reporting Person assigned the Rate Relief Note to EQM Midstream Partners, LP (EQM), an affiliate of the Company, as consideration for certain commercial terms, including potential reductions in gathering fees, contemplated in that certain Gas Gathering and Compression Agreement, dated as of February 26, 2020, by and between the Reporting Person, EQT Production Company, Rice Drilling B LLC, EQT Energy, LLC and EQM Gathering Opco, LLC, a wholly owned subsidiary of EQM. The Share Exchange also closed on March 5, 2020.