Britton L. James - 06 Jun 2024 Form 4 Insider Report for Sitio Royalties Corp. (STR)

Role
Executive Vice President of Land
Signature
/s/ Britton L. James, by Brett S. Riesenfeld as Attorney-in-Fact
Issuer symbol
STR
Transactions as of
06 Jun 2024
Net transactions value
$0
Form type
4
Filing time
10 Jun 2024, 18:12:12 UTC
Previous filing
05 Mar 2024
Next filing
11 Jun 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STR Class C Common Stock Tax liability -5,769 -12% 40,488 06 Jun 2024 Direct F1, 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 Sitio Royalties Operating Partnership, LP Units Tax liability -5,769 -12% 40,488 06 Jun 2024 Class A Common Stock 5,769 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class C Common Stock has no economic rights but entitles its holder to one vote on all matters to be voted on by shareholders generally. The terms of the Second Amended and Restated Agreement of Limited Partnership of Sitio Royalties Operating Partnership, LP (the "Partnership") provide that, subject to certain restrictions contained therein, each holder of common units representing limited partnership interests in the Partnership ("OpCo Units") (other than the Issuer) generally has the right to cause the Partnership to redeem all or a portion of its OpCo Units (the "Redemption Right") in exchange for shares of Class A Common Stock of the Issuer on a one-for-one basis or, at the Partnership's election, an equivalent amount of cash.
F2 (Continued from Footnote 1) In connection with any redemption of OpCo Units pursuant to the Redemption Right, the corresponding number of shares of the Class C Common Stock will be cancelled. The OpCo Units and the right to exercise the Redemption Right have no expiration date.
F3 The OpCo Units listed in Table II were forfeited and a corresponding number of shares of Class C Common Stock listed in Table I were cancelled to satisfy the tax withholding obligations of the Reporting Person in connection with the vesting of a portion of the Class C Common Stock held by the Reporting Person.

Remarks:

Executive Vice President of Land