Form 4: Diamondback Energy Executive VP Teresa L. Dick Reports Changes in Beneficial Ownership

Teresa L. Dick, Executive VP at Diamondback Energy, reports a transaction involving the withholding of common stock to cover tax obligations related to the vesting of restricted stock units received from the Rattler Midstream LP merger.

Summary

• On May 28, 2024, Teresa L. Dick, Executive VP at Diamondback Energy, reported a transaction involving common stock.
• The transaction involved the withholding of 570 shares of common stock at a price of $193.46 to satisfy tax withholding obligations.
• This withholding was related to the vesting and settlement of restricted stock units received in connection with the Rattler Midstream LP merger on August 24, 2022.
• Following the transaction, Dick's directly owned securities amount to 93,953 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing regarding stock transactions for tax purposes, indicating a neutral sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies like Diamondback Energy. It reflects the ongoing integration of Rattler Midstream and the vesting of equity awards granted as part of that transaction.

Comparison to Industry Standards

• Equity compensation and related tax withholding are standard practices across the oil and gas industry.
• Companies like Pioneer Natural Resources, EOG Resources, and Devon Energy also utilize restricted stock units as part of their executive compensation packages.
• The specific number of shares withheld and the price per share are dependent on individual circumstances and the company's stock performance.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves a small number of shares withheld for tax purposes.
• The filing provides transparency regarding executive compensation and stock ownership.

Key Dates