Sec Form 4 Filing - EQT Corp @ EQM Midstream Partners, LP - 2018-11-12

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
EQT Corp
2. Issuer Name and Ticker or Trading Symbol
EQM Midstream Partners, LP [ EQM]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
625 LIBERTY AVENUE, SUITE 1700
3. Date of Earliest Transaction (MM/DD/YY)
11/12/2018
(Street)
PITTSBURGH, PA15222
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Units representing limited partner interests 11/12/2018 J( 1 ) 37,245,455 ( 2 ) ( 3 ) D 0 I See footnotes ( 1 ) ( 2 ) ( 3 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
EQT Corp
625 LIBERTY AVENUE
SUITE 1700
PITTSBURGH, PA15222
X
Signatures
/s/ Jimmi Sue Smith Senior Vice President and Chief Financial Officer of EQT Corporation 11/13/2018
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Effective as of 11:59 p.m. (ET) on November 12, 2018 (the Effective Time), EQT Corporation, a Pennsylvania corporation (EQT), completed the separation of its midstream business from its upstream business (the Separation) by means of a pro rata distribution of 80.1% of the outstanding shares of common stock of Equitrans Midstream Corporation, a Pennsylvania corporation formed to hold EQT's midstream business following the Separation (ETRN), to EQT's shareholders of record as of the close of business on November 1, 2018 (the Distribution). As a result of the Separation and the Distribution, ETRN is a standalone publicly traded company, and as of the Effective Time, EQT is no longer deemed a beneficial owner of the common units representing limited partner interests (Common Units) of EQM Midstream Partners, LP beneficially owned by ETRN or its subsidiaries.
( 2 )ETRN is the sole member of Equitrans Midstream Holdings, LLC, a Delaware limited liability company (EMH) and Equitrans Gathering Holdings, LLC, a Delaware limited liability company (Gathering Holdings). Gathering Holdings is the direct or indirect owner of approximately 79.3% of the limited partner interests in EQGP Holdings, LP, a Delaware limited partnership (EQGP) and the sole member of EQGP Services, LLC, a Delaware limited liability company (EQGP GP), the general partner of EQGP. EQGP is the record and beneficial owner of 21,811,643 Common Units, which represent approximately 18.1% of the outstanding Common Units. EMH is the record and beneficial owner of 15,433,812 Common Units, which represent approximately 12.8% of the outstanding Common Units. As the direct or indirect owner of 79.3% of the limited partner interests in EQGP and sole member of EQGP GP, Gathering Holdings may be deemed to beneficially own the 21,811,643 Common Units beneficially owned by EQGP.
( 3 )As the sole member of EMH and Gathering Holdings, ETRN may be deemed to beneficially own the 21,811,643 Common Units beneficially owned by EQGP and the 15,433,812 Common Units beneficially owned by EMH, which in the aggregate represent approximately 30.9% of the outstanding Common Units. Prior to the completion of the Separation and the Distribution, EQT did not directly own any Common Units; however, as the sole shareholder of ETRN, it was deemed to beneficially own the 37,245,455 Common Units deemed to be beneficially owned by ETRN.

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