Jim Norris - Dec 30, 2023 Form 4 Insider Report for Sitio Royalties Corp. (STR)

Role
Chief Accounting Officer, Treasurer
Signature
/s/ Jim Norris, by Brett S. Riesenfeld as Attorney-in-Fact
Stock symbol
STR
Transactions as of
Dec 30, 2023
Transactions value $
-$33,791
Form type
4
Date filed
1/4/2024, 07:01 PM
Previous 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 +15.3K +88.12% $0.00 32.7K Dec 30, 2023 Direct F1
transaction STR Class A Common Stock Tax liability -$33.8K -1.43K -4.37% $23.63 31.3K Jan 2, 2024 Direct F2, F3

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 +5.1K +119.03% $0.00 9.39K Dec 30, 2023 Class A Common Stock 5.1K Direct F4
* 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 December 30, 2023, subject to the reporting person's continuous service through each vesting date.
F2 These shares were withheld by Sitio Royalties Corp. to satisfy the tax withholding obligations of the reporting person in connection with the vesting of the first one-third installment of an award of RSUs on December 30, 2023.
F3 Represents the closing price of the Common Stock on the date of the tax withholding.
F4 Represents performance stock units ("PSUs") granted to the reporting person pursuant to the LTIP in respect of calendar year 2024. 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 2023 through the last 20 trading days of 2026, 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:

Chief Accounting Officer, Treasurer