Form 4: Diamondback Energy Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Matt Zmigrosky, EVP, Chief Legal and Admin Officer of Diamondback Energy, Inc., sold shares to cover tax obligations related to the vesting of restricted stock units received from the Rattler Midstream LP merger.
Summary
- On May 28, 2024, Matt Zmigrosky, EVP, Chief Legal and Admin Officer of Diamondback Energy, Inc., disposed of 204 shares of common stock.
- The shares were withheld by the issuer to satisfy tax withholding obligations related to the vesting of restricted stock units.
- These restricted stock units were initially received in connection with the Rattler Midstream LP merger on August 24, 2022.
- The price per share for the transaction was $193.46.
- Following the transaction, Zmigrosky beneficially owns 38,241 shares of Diamondback Energy, Inc. common stock.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (selling shares for tax obligations). It's neutral in sentiment as it doesn't indicate positive or negative developments for the company.
Industry Context
This transaction is a routine occurrence where company executives sell shares to cover tax obligations arising from the vesting of stock-based compensation. It doesn't necessarily reflect a change in the executive's confidence in the company's future prospects.
Key Dates
| Date | Description |
|---|---|
| August 24, 2022 | Date of the Rattler Midstream LP merger. |
| May 24, 2024 | Date used to determine the closing price per share of Diamondback Energy's common stock for tax withholding. |
| May 28, 2024 | Date of the share disposal transaction. |
| May 29, 2024 | Date of signature for the Form 4 filing. |
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