Scott C. Schroeder - Oct 1, 2021 Form 4 Insider Report for Coterra Energy Inc. (CTRA)

Role: Executive Vice President & CFO
Signature: Deidre L. Shearer, Attorney-in-Fact for Scott C. Schroeder
Stock symbol: CTRA
Transactions as of: Oct 1, 2021
Transactions value $: -$5,162,200
Form type: 4
Date filed: 10/5/2021, 04:20 PM
Next filing: Dec 14, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CTRA	Common Stock	Award		+28.1K	+1.73%		1.65M	Oct 1, 2021	Direct	F1
transaction	CTRA	Common Stock	Tax liability	-$246K	-11K	-0.67%	$22.25	1.64M	Oct 1, 2021	Direct
transaction	CTRA	Common Stock	Options Exercise		+104K	+6.37%		1.74M	Oct 1, 2021	Direct	F1
transaction	CTRA	Common Stock	Tax liability	-$912K	-41K	-2.36%	$22.25	1.7M	Oct 1, 2021	Direct
transaction	CTRA	Common Stock	Award		+67.3K	+3.96%		1.77M	Oct 1, 2021	Direct	F1
transaction	CTRA	Common Stock	Tax liability	-$589K	-26.5K	-1.5%	$22.25	1.74M	Oct 1, 2021	Direct
transaction	CTRA	Common Stock	Options Exercise		+167K	+9.57%		1.91M	Oct 1, 2021	Direct	F1
transaction	CTRA	Common Stock	Tax liability	-$1.46M	-65.6K	-3.44%	$22.25	1.84M	Oct 1, 2021	Direct
transaction	CTRA	Common Stock	Award		+78.2K	+4.24%		1.92M	Oct 1, 2021	Direct	F1
transaction	CTRA	Common Stock	Tax liability	-$684K	-30.8K	-1.6%	$22.25	1.89M	Oct 1, 2021	Direct
transaction	CTRA	Common Stock	Options Exercise		+145K	+7.68%		2.03M	Oct 1, 2021	Direct	F1
transaction	CTRA	Common Stock	Tax liability	-$1.27M	-57.1K	-2.81%	$22.25	1.98M	Oct 1, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CTRA	Performance Shares	Options Exercise	$0	-104K	-100%	$0.00^*	Oct 1, 2021	Common	104K	$0.00	Direct	F1
transaction	CTRA	Performance Shares	Options Exercise	$0	-167K	-100%	$0.00^*	Oct 1, 2021	Common	167K	$0.00	Direct	F1
transaction	CTRA	Performance Shares	Options Exercise	$0	-145K	-100%	$0.00^*	Oct 1, 2021	Common	145K	$0.00	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each performance share represented the right to receive up to one share of common stock, based on certain performance criteria in a three year performance period ending 12/31/2019, 12/31/2020 or 12/31/2021, respectively. In connection with the merger of Cimarex Energy Co. ("Cimarex") with Double C Merger Sub, a Delaware corporation ("Merger sub") and a wholly owned subsidiary of Coterra Energy Inc. ("Coterra," formerly known as Cabot Oil & Gas Corporation ) (such merger, the "Merger"), pursuant to the Agreement and Plan of Merger, dated as of May 23, 2021 by and among Coterra, Merger Sub and Cimarex (as amended on June 29, 2021, the "Merger Agreement"), the performance shares vested on the Effective Time (as defined in the Merger Agreement) at the greater of target or actual performance. The Compensation Committee of the Board of Directors certified the results on 09/28/2021, which resulted in 100% of the stock being paid out for each of the performance shares on the Effective Time.

Content

Each performance share represented the right to receive up to one share of common stock, based on certain performance criteria in a three year performance period ending 12/31/2019, 12/31/2020 or 12/31/2021, respectively. In connection with the merger of Cimarex Energy Co. ("Cimarex") with Double C Merger Sub, a Delaware corporation ("Merger sub") and a wholly owned subsidiary of Coterra Energy Inc. ("Coterra," formerly known as Cabot Oil & Gas Corporation ) (such merger, the "Merger"), pursuant to the Agreement and Plan of Merger, dated as of May 23, 2021 by and among Coterra, Merger Sub and Cimarex (as amended on June 29, 2021, the "Merger Agreement"), the performance shares vested on the Effective Time (as defined in the Merger Agreement) at the greater of target or actual performance. The Compensation Committee of the Board of Directors certified the results on 09/28/2021, which resulted in 100% of the stock being paid out for each of the performance shares on the Effective Time.