Billy E. Goodwin - 16 Feb 2024 Form 4 Insider Report for Matador Resources Co (MTDR)

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	-5K	-33.33%	$0.00	10K	16 Feb 2024	Common Stock	5K		Direct	F1, F2
transaction	MTDR	Phantom Units	Options Exercise	$0	-8.05K	-50%	$0.00	8.05K	17 Feb 2024	Common Stock	8.05K		Direct	F3, F4

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

Id	Content
F1	Each phantom unit is the economic equivalent of one share of common stock of the Issuer's common stock. As required by the terms of the award, upon the February 16, 2024 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $58.98 per unit based upon the closing price of the Issuer's common stock on February 15, 2024. 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, February 16, 2023.
F3	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 February 17, 2024 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $59.33 per unit based upon the closing price of the Issuer's common stock on February 16, 2024. No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction.
F4	The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 17, 2022.