Lee Jacobe
the Board of Directors of the Company (the “Board”) appointed Lee Jacobe and Jerry L. Peters as Class I directors
Highest-materiality recent filing
Summit Midstream secures 150 MMcf/d in new Double E commitments, extends open season
Executed two new firm transport agreements totaling 150 MMcf/d, bringing total Double E commitments to 250 MMcf/d and contracted capacity to ~1.9 Bcf/d.
Summit Midstream Corporation announces inaugural $35 million stock repurchase program
Board authorized repurchase of up to $35 million of common stock (NYSE: SMC).
Summit Midstream shareholders elect directors, ratify auditor, approve say-on-pay and LTIP amendment
Elected three Class II directors: J. Heath Deneke (13.85M for), Robert J. McNally (13.95M for), Carolyn J. Stone (14.13M for).
Summit Midstream Q1 net loss $3.2M; Adj. EBITDA $54.2M; reiterates FY guidance $225-265M
Net loss of $3.2M; Adjusted EBITDA $54.2M; DCF $26.9M; FCF $11.4M for Q1 2026.
Summit Midstream raises $42M via private placement of 1.35M shares at $31.08 to Tailwater affiliate
Issued 1,351,351 shares at $31.08/share to Tall Oak Midstream Holdings (Tailwater) for $42M cash.
Q4 2025 net loss $7.3M; Adj. EBITDA $58.5M; DCF $33.7M; FCF $17.0M.
Summit Midstream appoints Carolyn J. Stone as director; Marguerite Woung-Chapman retires
Carolyn J. Stone appointed to Class II board seat, effective March 16, 2026.
SMC Q3 adj. EBITDA $65.5M (+7.2% QoQ); FY2025 guidance near low end of $245M-$280M
Net income $5.0M; DCF $36.7M; FCF $16.7M for Q3 2025.
Summit Midstream Q2 net loss $4.2M, adjusted EBITDA $61.1M; FY guidance near low end
Net loss of $4.2M in Q2 2025; adjusted EBITDA $61.1M, DCF $32.4M, free cash flow $9.2M.
Summit Midstream updates executive compensation; raises base pay for CEO and EVPs
CEO Deneke base salary $795,000; target bonus 120% of base (0-300% range); LTIP target 450% of base.
Summit Midstream Q1 2025 net income $4.6M, adjusted EBITDA $57.5M; reiterates FY guidance
Q1 net income $4.6M, adjusted EBITDA $57.5M, DCF $33.5M; results in line with management expectations.
Pro forma net loss attributable to Summit Midstream: -$192.5M vs historical -$122.2M.
Summit Midstream acquires Moonrise Midstream for $90M, adding DJ Basin capacity
Total consideration $90M: $70M cash (credit facility) + ~462k SMC shares ($20M equity).
Q4 2024 net loss $24.8M; adjusted EBITDA $46.2M; distributable cash flow $22.1M; free cash flow $6.6M.
Summit Midstream issues additional $250M of 8.625% senior secured second lien notes due 2029
Additional $250M in 8.625% Senior Secured Second Lien Notes due 2029 issued, total now $825M outstanding.
Summit Midstream prices $250M additional 8.625% senior secured second lien notes due 2029
Priced at 103.375% of par; will form single series with existing $575M notes.
Summit Midstream proposes $250M additional 8.625% notes due 2029; discloses strategic deal talks
Subsidiary offers $250M additional 8.625% Senior Secured Second Lien Notes due 2029.
On Dec 2, completed acquisition of Tall Oak Midstream; on Dec 4, added Tall Oak, Woodford, Arkoma, BCZ as guarantors under existing debt.
Tall Oak 2023 revenue $116.4M, net income $32.6M, operating cash flow $51.3M.
Summit Midstream closes $155M cash + equity acquisition of Tall Oak Midstream III
Total consideration: $155M cash, 7.5M Partnership units + Class B shares, up to $25M contingent; pro forma leverage ~3.8x.
Stockholders approve issuance of up to 7.47M Class B shares to Tall Oak Midstream
Over 8.15M shares voted FOR the Issuance Proposal; 5,209 against, 12,457 abstain.
Summit Midstream Corporation Reports Q3 2024 Net Loss of $197.5M and Adjusted EBITDA of $45.2M
Q3 2024 net loss of $197.5 million, including $142.6M non-cash income tax expense from C-Corp conversion
Company hosted conference call on Oct 2, 2024 regarding previously announced Tall Oak Midstream acquisition.
Summit Midstream to acquire Tall Oak Midstream III for $425M in cash and equity
Total consideration of $425M: $155M cash plus 7.47M Class B shares and 7.47M partnership units; earnout up to $25M.
Summit Midstream Q2 net loss $23.8M, adj EBITDA $43.1M; reaffirms 2024 guidance $170-200M
Net loss $23.8M; adj EBITDA $43.1M; DCF $11.7M; FCF $2.7M.
Summit Midstream completes corporate reorganization; begins trading as SMC on NYSE
Summit Midstream Partners LP merged into wholly-owned subsidiary; Summit Midstream Corp becomes successor issuer.
the Board of Directors of the Company (the “Board”) appointed Lee Jacobe and Jerry L. Peters as Class I directors
the Board of Directors of the Company (the “Board”) appointed Lee Jacobe and Jerry L. Peters as Class I directors
Max materiality 0.90 · Median 0.60 · Most common event other_material