Form 4: Matador CFO Buys Shares in Pre-Planned Transaction

Matador Resources Co's EVP and CFO, Robert T. Macalik, acquired 1,039 shares of common stock at $39.40 per share through a pre-planned Rule 10b5-1 transaction.

Summary

• Robert T. Macalik, Executive Vice President and Chief Financial Officer of Matador Resources Co (MTDR), acquired 1,039 shares of common stock.
• The transaction occurred on October 31, 2025, at a price of $39.40 per share.
• This acquisition was made pursuant to a Rule 10b5-1 pre-planned contract, indicating a scheduled purchase.
• Following this transaction, Macalik beneficially owns 33,539 shares indirectly through an Individual Retirement Account.
• Additionally, Macalik holds 108,961 shares directly, which includes shares acquired via the Employee Stock Purchase Plan and restricted stock grants from February 2023 and February 2024.

Sentiment

Score: 7

Explanation: The insider purchase by a key executive, even if pre-planned, generally indicates confidence in the company's valuation and future performance. While the amount is not exceptionally large, it's a positive signal.

Positives

• An executive's purchase of company stock can signal confidence in the company's future prospects and valuation.
• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-scheduled purchase rather than a reaction to immediate, potentially material, news.

Future Outlook

No specific forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

Insider purchases, especially by a Chief Financial Officer, can be seen as a positive signal within the energy sector, suggesting management believes the company's stock is undervalued or has strong future prospects, despite broader market volatility or commodity price fluctuations.

Comparison to Industry Standards

• Insider buying, particularly by a CFO, is generally viewed positively across all industries as it aligns management's interests with shareholders.
• The use of a Rule 10b5-1 plan is a standard practice for executives to trade company stock while avoiding accusations of trading on material non-public information.
• The volume of shares purchased (1,039 shares) is a modest amount relative to the executive's total holdings (over 140,000 shares combined direct and indirect), which is typical for routine insider transactions rather than a massive, highly aggressive bet.

Stakeholder Impact

• Shareholders: May view the insider purchase as a positive signal of management confidence, potentially bolstering investor sentiment.
• Employees: No direct impact mentioned, but general positive sentiment from management could indirectly affect morale.

Next Steps

• The restricted stock granted on February 16, 2023, will vest on its third anniversary (February 16, 2026).
• The restricted stock granted on February 14, 2024, will vest in equal installments on its second and third anniversaries (February 14, 2026, and February 14, 2027).

Key Dates

Recommendation

While an insider purchase is generally a positive signal, this specific transaction is a relatively small, pre-planned acquisition by the CFO. It indicates confidence but isn't a strong enough signal on its own to warrant a 'buy' recommendation without further fundamental analysis of Matador Resources Co's broader financial health and market position. It reinforces a 'hold' position for existing investors and suggests continued monitoring for potential new investors.

Keywords

Matador Resources, MTDR, Insider Trading, Form 4, Stock Purchase, Executive Compensation, Robert T. Macalik, CFO, Rule 10b5-1, Energy Sector