PT Independence Energy Holdings LLC - Apr 1, 2022 Form 4 Insider Report for Crescent Energy Co (CRGY)

Role
Director, 10%+ Owner
Signature
PT INDEPENDENCE ENERGY HOLDINGS LLC, By: Brandi Kendall, Title: Vice President /s/ Brandi Kendall
Stock symbol
CRGY
Transactions as of
Apr 1, 2022
Transactions value $
$0
Form type
4
Date filed
4/5/2022, 05:01 PM
Previous filing
Dec 7, 2021
Next filing
Sep 13, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRGY Class A common stock Award $0 +18.3K $0.00 18.3K Apr 1, 2022 See footnotes F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Erich Bobinsky and Bevin Brown (the "Directors") are officers of, and employees of an affiliate of, Liberty Energy Holdings, LLC ("LEH") and serve on the Board of Directors of Crescent Energy Company (the "CRGY") as nominees of PT Independence Energy Holdings LLC (the "PT Reporting Person"). On April 1, 2022, CRGY granted to the Directors, in their capacities as directors of CRGY, an aggregate of 18,262 restricted stock units ("RSUs"). The Directors have agreed that they will not receive any separate compensation for serving as directors of CRGY and will transfer to LEH any director compensation they receive from CRGY, including any shares received in settlement of the restricted stock units.
F2 The shares of CRGY Class A common stock ("Common Stock") reported are RSUs granted to the Directors pursuant to the Crescent Energy Company 2021 Equity Incentive Plan. Each RSU represents a contingent right to receive one share of Common Stock. The RSUs will vest on April 1, 2023, subject to the Directors' continuous service through such date.
F3 Pursuant to the terms of the Second Amended and Restated Limited Liability Company Agreement of the PT Reporting Person, LEH has the sole right to vote or dispose of the shares of Common Stock held by the PT Reporting Person. Therefore, LEH is deemed to have beneficial ownership of the shares of Common Stock. The sole member of LEH is Liberty Mutual Insurance Company ("Liberty Mutual"), which is wholly owned by Liberty Mutual Group Inc. The sole shareholder of Liberty Mutual Group Inc. is LMHC Massachusetts Holdings Inc., whose sole shareholder is Liberty Mutual Holding Company Inc. Because Liberty Mutual Holding Company Inc. is a mutual holding company, its members are entitled to vote at meetings of the company. No such member is entitled to cast 5% or more of the votes.