Form 4: Diamondback Energy Executive VP Teresa L. Dick Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Teresa L. Dick, Executive VP at Diamondback Energy, reports acquisition and disposal of common stock and restricted stock units related to vesting and tax obligations.
Summary
- Teresa L. Dick, CAO, Executive VP, and Assistant Secretary of Diamondback Energy, Inc., filed a Form 4 on March 4, 2025, reporting changes in beneficial ownership of the company's stock.
- On March 1, 2025, Dick acquired 5,575 restricted stock units and 23,070 performance-based restricted stock units.
- Also on March 1, 2025, Dick disposed of 10,169, 928, 679, and 820 shares of common stock to satisfy tax withholding obligations related to the vesting of restricted stock units.
- Following these transactions, Dick beneficially owns 105,002 shares of Diamondback Energy common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and equity awards, common in the oil and gas industry.
Comparison to Industry Standards
- Equity compensation is a standard practice across the oil and gas industry to align executive incentives with shareholder value.
- Companies like EOG Resources, Pioneer Natural Resources, and ConocoPhillips also utilize restricted stock units and performance-based awards as part of their executive compensation packages.
- The vesting schedules and performance metrics associated with these awards often vary based on company-specific goals and industry benchmarks.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in company ownership.
Key Dates
| Date | Description |
|---|---|
| 2022-01-01 | Start of performance period for performance-based restricted stock units. |
| 2022-03-01 | Date of grant for performance-based restricted stock units. |
| 2023-03-01 | Date of grant for time-based restricted stock units. |
| 2024-03-01 | Date of grant for time-based restricted stock units. |
| 2024-12-31 | End of performance period for performance-based restricted stock units; vesting date. |
| 2025-02-28 | Date used to determine closing price per share for tax withholding. |
| 2025-03-01 | Transaction date for acquisition and disposal of securities; settlement date for restricted stock units. |
| 2025-03-01 | First vesting date for restricted stock units granted on March 1, 2025. |
| 2025-03-04 | Date of Form 4 filing. |
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