David E. Lancaster - Oct 11, 2021 Form 4 Insider Report for Matador Resources Co (MTDR)

Role: EVP and CFO
Signature: /s/ David E. Lancaster
Stock symbol: MTDR
Transactions as of: Oct 11, 2021
Transactions value $: -$148,028
Form type: 4
Date filed: 10/12/2021, 07:33 PM
Previous filing: Oct 5, 2021
Next filing: Jan 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MTDR	Common Stock	Options Exercise	$1.49M	+50.1K	+12.44%	$29.68	453K	Oct 11, 2021	Direct
transaction	MTDR	Common Stock	Tax liability	-$1.64M	-38.2K	-8.45%	$42.75	415K	Oct 11, 2021	Direct	F1
holding	MTDR	Common Stock						85.5K	Oct 11, 2021	Represents shares held of record by the reporting person's Individual Retirement Account.

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	MTDR	Employee Stock Option	Options Exercise	$0	-50.1K	-100%	$0.00^*	0	Oct 11, 2021	Common Stock	50.1K	$29.68	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents shares withheld by the Issuer in connection with the reporting person's net share settlement to satisfy a portion of the exercise price and tax liability upon the exercise of 50,105 employee stock options that were granted to the reporting person on February 16, 2018. No shares were sold by the reporting person to satisfy the exercise price or the tax liability.
F2	The employee stock options vested in equal annual installments on the first, second and third anniversaries of the date of grant and were fully vested as of February 16, 2021.