Form 4: Matador CEO Buys Shares Under 10b5-1 Plan

Matador Resources Co. CEO Joseph Wm Foran purchased 2,000 shares of common stock at a weighted average price of $48.15 per share.

Summary

• Joseph Wm Foran, Chairman and CEO of Matador Resources Co (MTDR), acquired 2,000 shares of common stock.
• The transaction occurred on September 12, 2025, at a weighted average price of $48.15 per share, with prices ranging from $48.14 to $48.15.
• The purchase was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged trading strategy.
• Following this transaction, Foran directly owns 8,025 shares, which includes shares acquired through the Issuer's Employee Stock Purchase Plan.
• Foran also maintains significant indirect beneficial ownership of 5,419,694 shares through various family trusts and a limited partnership.

Sentiment

Score: 7

Explanation: The CEO's purchase of company stock, even if pre-planned under a 10b5-1 plan, generally signals management's confidence in the company's valuation and future prospects. However, the relatively small size of the purchase compared to total beneficial ownership tempers the immediate positive impact.

Positives

• The CEO's purchase of company shares generally signals confidence in the company's future prospects and valuation.
• The transaction was executed under a Rule 10b5-1(c) plan, suggesting a disciplined, pre-planned investment strategy rather than a reactive decision based on immediate market events.

Negatives

• The number of shares purchased (2,000) is relatively small when compared to the CEO's total beneficial ownership of over 5.4 million shares, which may temper the perceived strength of the confidence signal.

Future Outlook

The filing, a Form 4, primarily reports an insider transaction and does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This insider transaction pertains to Matador Resources Co., an independent energy company engaged in the exploration, development, production, and acquisition of oil and natural gas properties. The transaction itself does not provide specific industry context beyond the company's operational sector.

Related Party Transactions

• Shares are held indirectly through the Foran 2012 Savings Trust, where the reporting person's spouse is a trustee.
• Shares are held indirectly through the Foran 2012 Security Trust, where the reporting person is the trustee.
• Shares are held indirectly through Sage Resources, Ltd., a limited partnership owned by the reporting person's family.
• Shares are held indirectly through various 2011 and 2020 Non-GST Trusts, where the reporting person and spouse retain the power of substitution.
• Shares are held indirectly through multiple GRATs (JWF 2024-1, NNF 2024-1, JWF 2024-2, NNF 2024-2, JWF 2025-1, NNF 2025-1, JWF 2025-2, NNF 2025-2), for which the reporting person serves as trustee and holds sole voting and investment power.

Stakeholder Impact

• Shareholders may interpret the CEO's share purchase as a positive signal of management's belief in the company's value, potentially influencing investor sentiment.

Key Dates

Recommendation

While the CEO's purchase of shares is a positive indicator of confidence, the relatively small transaction size (2,000 shares) and its execution under a pre-planned 10b5-1 program suggest it is a routine portfolio management activity rather than a strong, immediate signal for a 'buy' recommendation. Investors should 'hold' and monitor broader company performance and market conditions.

Keywords

Matador Resources, MTDR, Joseph Wm Foran, Insider Trading, Share Purchase, CEO Stock Buy, SEC Form 4, Energy Sector, Oil and Gas, 10b5-1 Plan