Nicole L. Martinet - Feb 15, 2023 Form 4 Insider Report for PDC ENERGY, INC. (PDCE)

Role: SVP, General Counsel & Sec.
Signature: /s/ Nicole L. Martinet, by power of attorney
Stock symbol: PDCE
Transactions as of: Feb 15, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/17/2023, 04:02 PM
Previous filing: Jan 13, 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	+10.2K	+12.66%	$0.00	90.9K	Feb 15, 2023	Direct	F1

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	+10.2K		$0.00	10.2K	Feb 15, 2023	Common Stock	10.2K		Direct	F2

* 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	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.

Content

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.

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.