Brett S. Riesenfeld - Mar 1, 2023 Form 4 Insider Report for Sitio Royalties Corp. (STR)

Role
Executive Vice President, General Counsel and Secretary
Signature
/s/ Brett S. Riesenfeld
Stock symbol
STR
Transactions as of
Mar 1, 2023
Transactions value $
$0
Form type
4
Date filed
3/3/2023, 03:58 PM
Previous filing
Jan 3, 2023
Next filing
Jun 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STR Class A Common Stock Award $0 +28.7K +60.42% $0.00 76.2K Mar 1, 2023 Direct F1, F2

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 STR Performance Stock Units Award $0 +47.9K +115.23% $0.00 89.4K Mar 1, 2023 Class A Common Stock 47.9K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units ("RSUs") granted to the reporting person pursuant to the Sitio Royalties Corp. Long Term Incentive Plan (the "LTIP"). Each RSU represents a contingent right to receive one share of Sitio Royalties Corp.'s Class A common stock, par value $0.0001 per share ("Common Stock"). The RSUs will vest in equal one-third installments on each of the first three anniversaries of March 1, 2023, subject to the reporting person's continuous service through each vesting date.
F2 The reporting person's previous Form 4 filing incorrectly listed the number of securities beneficially owned as 47,157 instead of 47,517 due to a typo which has been corrected in calculating the number of securities beneficially owned following the transaction reported herein.
F3 Represents performance stock units ("PSUs") granted to the reporting person pursuant to the LTIP in respect of calendar year 2023. Each PSU represents the right to receive one share of Common Stock. The PSUs will be eligible to be earned by the reporting person based on achievement with respect to an annualized absolute total shareholder return performance goal over a three-year performance period beginning with the last 20 trading days of 2022 through the last 20 trading days of 2025, subject to the reporting person's continuous service through the end of such performance period. The number of PSUs indicated reflects the "target" number of PSUs granted to the reporting person and the number of PSUs earned could range from 0% to 200% of such target number.

Remarks:

Executive Vice President, General Counsel and Secretary