Craig N. Adams - Mar 10, 2022 Form 4 Insider Report for Matador Resources Co (MTDR)

Role: EVP, COO - Land, Legal & Admin
Signature: /s/ Craig N. Adams, by Brian J. Willey as attorney-in-fact
Stock symbol: MTDR
Transactions as of: Mar 10, 2022
Transactions value $: $0
Form type: 4
Date filed: 3/10/2022, 04:58 PM
Previous filing: Feb 22, 2022
Next filing: Jun 7, 2022

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	Phantom Units	Options Exercise	$0	-22.6K	-50%	$0.00	22.6K	Mar 10, 2022	Common Stock	22.6K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each phantom unit is the economic equivalent of one share of the Issuer's common stock. As required by the terms of the award, upon the March 10, 2022 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $52.73 per unit based upon the closing price of the Issuer's common stock on March 9, 2022. No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction.
F2	The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, March 10, 2020.

Content

Each phantom unit is the economic equivalent of one share of the Issuer's common stock. As required by the terms of the award, upon the March 10, 2022 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $52.73 per unit based upon the closing price of the Issuer's common stock on March 9, 2022. No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction.

The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, March 10, 2020.