Sandra Garbiso - Feb 22, 2023 Form 4 Insider Report for CIVITAS RESOURCES, INC. (CIVI)

Role
CAO and Treasurer
Signature
By: Roberta L. Louis, attorney-in-fact For: Sandra Garbiso
Stock symbol
CIVI
Transactions as of
Feb 22, 2023
Transactions value $
-$458,202
Form type
4
Date filed
2/23/2023, 07:16 PM
Previous filing
Sep 13, 2022
Next filing
Mar 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CIVI Common Stock Award $0 +15.1K +53.82% $0.00 43.1K Feb 22, 2023 Direct F1
transaction CIVI Common Stock Tax liability -$412K -6.66K -15.45% $61.83 36.4K Feb 22, 2023 Direct F2
transaction CIVI Common Stock Tax liability -$46.7K -752 -2.07% $62.05 35.7K Feb 23, 2023 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In June of 2020 the reporting person was granted a performance unit award with a performance period beginning on January 1, 2020 and ending on December 31, 2022, based on the Issuer's absolute and relative total shareholder return ("TSR") and its return on capital employed ("ROCE"), as further specified in the award agreement. The actual number of shares that may vest ranges from zero to 200% of the target number of shares. On February 22, 2023, the Compensation Committee determined that there was: (1) a 200% payout with respect to the TSR-based performance units, and (2) a 92% payout with respect to the ROCE-based performance units.
F2 Represents shares withheld to satisfy tax withholding obligations upon vesting of the performance stock units.
F3 Represents shares withheld to satisfy tax withholding obligations upon vesting of restricted stock units.