M. Jason Pigott - Feb 15, 2023 Form 4 Insider Report for Vital Energy, Inc. (VTLE)

Role: President & CEO, Director
Signature: /s/ Mark D. Denny, as attorney-in-fact for M. Jason Pigott
Stock symbol: VTLE
Transactions as of: Feb 15, 2023
Transactions value $: $2,500,015
Form type: 4
Date filed: 2/17/2023, 04:34 PM
Previous filing: Feb 2, 2023
Next filing: Feb 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VTLE	Common Stock	Award	$2.5M	+45.8K	+47.89%	$54.57	141K	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	VTLE	Performance Units	Award	$0	+45.8K		$0.00	45.8K	Feb 15, 2023	Performance Units	45.8K		Direct	F2

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

Explanation of Responses:

Id	Content
F1	These restricted shares are granted under the Issuer's Omnibus Equity Incentive Plan and will vest in three equal annual installments beginning on the first anniversary date of the grant.
F2	These performance units are granted under the Issuer's Omnibus Equity Incentive Plan. Each performance unit represents a share of common stock. The performance units will be payable, if at all, in common stock, cash, or a combination of common stock and cash, to be determined in the discretion of the Issuer's Compensation Committee, based upon (i) the Issuer's total shareholder return measured against an industry peer group on an absolute share return basis, (ii) earnings before interest, taxes, depreciation, amortization and exploration expense divided by three-year total debt reduction, (iii) growth in inventory and (iv) emissions reduction, over a three-year performance period ending December 31, 2025. The final number of shares of common stock or cash earned is dependent on the performance of the stock price and the factors identified herein with the performance unit multiple having a range from 0% to 225%.

Content

These restricted shares are granted under the Issuer's Omnibus Equity Incentive Plan and will vest in three equal annual installments beginning on the first anniversary date of the grant.

These performance units are granted under the Issuer's Omnibus Equity Incentive Plan. Each performance unit represents a share of common stock. The performance units will be payable, if at all, in common stock, cash, or a combination of common stock and cash, to be determined in the discretion of the Issuer's Compensation Committee, based upon (i) the Issuer's total shareholder return measured against an industry peer group on an absolute share return basis, (ii) earnings before interest, taxes, depreciation, amortization and exploration expense divided by three-year total debt reduction, (iii) growth in inventory and (iv) emissions reduction, over a three-year performance period ending December 31, 2025. The final number of shares of common stock or cash earned is dependent on the performance of the stock price and the factors identified herein with the performance unit multiple having a range from 0% to 225%.