| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CIVI | Common Stock | Award | +16.5K | 16.5K | Nov 1, 2021 | Direct | F1, F2 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CIVI | Tranche A Warrants (right to buy) | Award | +637 | 637 | Nov 1, 2021 | Common Stock | 637 | $91.91 | Direct | F3 | |||
| transaction | CIVI | Tranche B Warrants (right to buy) | Award | +318 | 318 | Nov 1, 2021 | Common Stock | 318 | $104.45 | Direct | F4 | |||
| transaction | CIVI | Performance Stock Unit | Award | +49.5K | 49.5K | Nov 1, 2021 | Common Stock | 49.5K | Direct | F5, F6 |
| Id | Content |
|---|---|
| F1 | Represents restricted stock units ("RSUs") that settle in shares of Civitas Resources, Inc. (the "Issuer") common stock received in exchange for RSUs that settled in shares of Extraction Oil & Gas, Inc. ("Extraction") common stock in connection with the consummation of the transaction (the "Merger") contemplated in that certain agreement and plan of merger (the "Merger Agreement") by and between Bonanza Creek Energy, Inc., Raptor Eagle Merger Sub, Inc. and Extraction, dated as of May 9, 2021. Pursuant to the Merger Agreement, the outstanding Extraction RSUs immediately prior to the effective time of the Merger were assumed by the Issuer and converted into a number of RSUs with respect to shares of Issuer common stock equal to the product of the outstanding Extraction RSUs multiplied by 1.1711 and rounded to the nearest number of whole shares. Each RSU represents a contingent right to receive one share of Issuer common stock. |
| F2 | (Continued from footnote 1) The RSUs vest ratably over three years on January 20, 2022, January 20, 2023 and January 20, 2024, subject to continued service through each vesting date and will be settled in shares of Issuer common stock. |
| F3 | Represents Tranche A warrants ("Tranche A Warrants") of the Issuer received in exchange for Tranche A warrants of Extraction in connection with the Merger. Pursuant to the Merger Agreement, the outstanding Tranche A warrants of Extraction immediately prior to the effective time of the Merger were assumed by the Issuer and converted into a number of Tranche A Warrants equal to the product of the outstanding Tranche A warrants of Extraction multiplied by 1.1711 and rounded down to the nearest number. The Tranche A Warrants are exercisable for one share of common stock of the Issuer from the date of issuance until 5:00 p.m., New York time, on the expiration date. |
| F4 | Represents Tranche B warrants ("Tranche B Warrants") of the Issuer received in exchange for Tranche B warrants of Extraction in connection with the Merger. Pursuant to the Merger Agreement, the outstanding Tranche B warrants of Extraction immediately prior to the effective time of the Merger were assumed by the Issuer and converted into a number of Tranche B Warrants equal to the product of the outstanding Tranche B warrants of Extraction multiplied by 1.1711 and rounded down to the nearest number. The Tranche B Warrants are exercisable for one share of common stock of the Issuer from the date of issuance until 5:00 p.m., New York time, on the expiration date. |
| F5 | Each performance unit ("PSU") represents a contingent right to receive one share of Issuer common stock. |
| F6 | Represents PSUs that settle in shares of Issuer common stock received in exchange for 42,300 PSUs that settled in shares of Extraction common stock in connection with consummation of the Merger. The PSUs will vest upon the achievement by the Issuer of certain goals pertaining to absolute total stockholder return, subject to continued service through January 20, 2024. |