Mark Lumpkin Jr - Jan 6, 2023 Form 4 Insider Report for EARTHSTONE ENERGY INC (ESTE)

Role: EVP and CFO
Signature: /s/ Mark Lumpkin, Jr.
Stock symbol: ESTE
Transactions as of: Jan 6, 2023
Transactions value $: $0
Form type: 4
Date filed: 1/10/2023, 03:07 PM
Previous filing: Jan 3, 2023
Next filing: Feb 6, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ESTE	Class A Common Stock	Award	$0	+35.7K	+18.37%	$0.00	230K	Jan 6, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ESTE	Performance Unit	Award	$0	+35.7K		$0.00	35.7K	Jan 6, 2023	Class A Common Stock	35.7K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This restricted stock unit award vests on an equal quarterly basis over a three-year period with the first vesting date on March 31, 2023, subject to the terms of the restricted stock unit agreement. Each restricted stock unit represents the contingent right to receive one share of Class A common stock of the Issuer.
F2	This performance unit award is subject to the terms of the performance restricted stock unit agreement. The vesting of the award is subject to the satisfaction of certain performance criteria in the period beginning on January 1, 2023 and ending on December 31, 2025. The units are valued on a one-to-one basis to the Class A common stock of the Issuer and are intended to be settled in stock but a portion may be settled in cash upon vesting. The number of shares of Class A common stock applicable to the award can range from 0% to 200% of the number presented above.

Content

This restricted stock unit award vests on an equal quarterly basis over a three-year period with the first vesting date on March 31, 2023, subject to the terms of the restricted stock unit agreement. Each restricted stock unit represents the contingent right to receive one share of Class A common stock of the Issuer.

This performance unit award is subject to the terms of the performance restricted stock unit agreement. The vesting of the award is subject to the satisfaction of certain performance criteria in the period beginning on January 1, 2023 and ending on December 31, 2025. The units are valued on a one-to-one basis to the Class A common stock of the Issuer and are intended to be settled in stock but a portion may be settled in cash upon vesting. The number of shares of Class A common stock applicable to the award can range from 0% to 200% of the number presented above.