Marianella Foschi - Feb 19, 2024 Form 4 Insider Report for CIVITAS RESOURCES, INC. (CIVI)

Role
CFO & Treasurer
Signature
By: Rosemary Morice, Attorney-in-Fact For: Marianella Foschi
Stock symbol
CIVI
Transactions as of
Feb 19, 2024
Transactions value $
-$2,484,610
Form type
4
Date filed
2/21/2024, 06:26 PM
Previous filing
Jan 22, 2024
Next filing
Feb 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CIVI Common Stock Award $0 +11.3K +39.15% $0.00 40.3K Feb 19, 2024 Direct F1
transaction CIVI Common Stock Award $0 +99.1K +245.87% $0.00 139K Feb 19, 2024 Direct F2
transaction CIVI Common Stock Tax liability -$2.48M -39.4K -28.26% $63.09 100K Feb 19, 2024 Direct 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 CIVI Performance Share Units Award $0 +26.5K $0.00 26.5K Feb 19, 2024 Common Stock 26.5K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The restricted stock units are scheduled to vest in three equal installments on February 19, 2025, February 19, 2026, and February 19, 2027.
F2 In January 2021, the reporting person was granted a performance unit award with a performance period beginning on January 20, 2021 and ending on January 20, 2024, based on the Issuer's absolute total stockholder return ("TSR") as further specified in the award agreement. The actual number of shares that could be earned and vest ranged from zero to 200% of the target number of shares. On February 19, 2024, the Compensation Committee determined that there was a payout with respect to TSR-based performance units.
F3 Represents shares withheld to satisfy tax withholding obligations upon vesting of performance stock units.
F4 The number of performance stock units that could be earned and vest under this grant depend on the Issuer's absolute total shareholder return over the performance period beginning on January 1, 2024 and ending on December 31, 2026. The actual number of shares that may vest ranges from zero to 225% of the target number of shares.