secwatch.observer — SEC 8-K summary
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Issuer:     Western Midstream Partners, LP (WES)
CIK:        0001423902
Form:       8-K
Filed at:   2024-11-01T23:59:59+00:00
Accession:  0001423902-24-000074
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WES appoints Oscar Brown as President & CEO, replacing Michael Ure effective Oct 28
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- Oscar Brown appointed President and CEO of General Partner effective Oct 28, 2024; he was independent director since 2019.
- Michael Ure steps down as President/CEO and director, no disagreement; will serve as advisor through Dec 31, 2024.
- Brown compensation: $950k base, $300k special 2024 bonus, $6M time-based units vesting over 3 years.
- Ure severance: 2x base salary + 2024 target bonus paid over 24 months; plus benefits, equity pro-rata vest.
- Reaffirms 2024 guidance: Adj. EBITDA $2.2B-$2.4B, FCF $1.05B-$1.25B, expecting high end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1423902/000142390224000074/0001423902-24-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1423902/000142390224000074/wes-20241028.htm
  HTML page:      https://secwatch.observer/filing/0001423902-24-000074

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer