R. Scott Meyers - Feb 15, 2023 Form 4 Insider Report for PDC ENERGY, INC. (PDCE)

Role
EVP, CFO
Signature
/s/ Nicole L. Martinet, by power of attorney
Stock symbol
PDCE
Transactions as of
Feb 15, 2023
Transactions value $
-$166,925
Form type
4
Date filed
2/17/2023, 03:57 PM
Previous filing
Jan 18, 2023
Next filing
Feb 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PDCE Common Stock Award $0 +15.5K +9.31% $0.00 182K Feb 15, 2023 Direct F1
transaction PDCE Common Stock Sale -$167K -2.5K -1.37% $66.77 180K Feb 15, 2023 Direct 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 PDCE Performance Share Units Award $0 +15.5K $0.00 15.5K Feb 15, 2023 Common Stock 15.5K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The restricted stock units were acquired pursuant to the PDC Energy, Inc. 2018 Equity Incentive Plan and will vest in three equal annual installments beginning on February 25, 2024.
F2 The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 6, 2022.
F3 Each performance share unit represents a contingent right to receive 0-250% of that number in shares of Company common stock. The amount reported represents the "target" number. The performance share units vest upon continued employment and achievement of specified metrics compared to certain peers, as measured in December of 2025 and as described in the related grant agreement. Participant also holds additional previously awarded performance share units, all subject to different future vesting and performance criteria.