Form 4: Diamondback Energy CEO Travis Stice Reports Gift of Shares to Trust

Diamondback Energy CEO Travis Stice reports a gift of shares held by Stice Investments, Ltd. to the TDS 2024 Trust, with his spouse gifting an 8% limited partner interest.

Summary

• On May 31, 2024, Travis Stice, CEO of Diamondback Energy, reported a transaction involving the company's common stock.
• Mr. Stice's spouse gifted an estimated 8% limited partner interest in Stice Investments, Ltd. to the TDS 2024 Trust.
• Mr. Stice is the sole trustee and primary beneficiary of the trust, with his adult children as secondary beneficiaries.
• The gift involved 32,670 shares of Diamondback Energy common stock.
• Following the transaction, Mr. Stice indirectly beneficially owns 435,593 shares through Stice Investments, Ltd.
• The interest was calculated based on the third party valuation of the fair market value of the gifted interest as of May 31, 2024, subject to completion of the final valuation.
• Mr. Stice may be deemed to share beneficial ownership of securities beneficially owned by his spouse and, as a result, the gifted interest did not change Mr. Stice's beneficial ownership of the issuer's securities following the reported transaction(s).

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing regarding a gift of shares. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure of insider transactions and doesn't necessarily reflect a change in the company's operational outlook or strategy. It is a common practice for executives to manage their personal holdings for estate planning purposes.

Stakeholder Impact

• The transaction has minimal direct impact on Diamondback Energy's stakeholders, as it is a personal transaction of the CEO and does not affect the company's operations or financial position.

Key Dates