Mark David Denny - 03 Mar 2023 Form 4 Insider Report for Vital Energy, Inc. (VTLE)

Role: SVP, Gen. Counsel & Secretary
Signature: /s/ Mark D. Denny
Issuer symbol: VTLE
Transactions as of: 03 Mar 2023
Net transactions value: -$1,125,052
Form type: 4
Filing time: 07 Mar 2023, 18:11:31 UTC
Previous filing: 23 Feb 2023
Next filing: 10 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VTLE	Common Stock	Options Exercise	$0	+17,936	+65%	$0.000000	45,369	03 Mar 2023	Direct	F1
transaction	VTLE	Common Stock	Disposed to Issuer	$1,023,428	-17,936	-40%	$57.06	27,433	03 Mar 2023	Direct	F1
transaction	VTLE	Common Stock	Tax liability	$101,624	-1,781	-6.5%	$57.06	25,652	03 Mar 2023	Direct	F2

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	Options Exercise	$0	+11,878		$0.000000^*	0	03 Mar 2023	Common Stock	11,878		Direct	F1

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

Explanation of Responses:

Id	Content
F1	These performance units were granted under the Issuer's Omnibus Equity Incentive Plan and were originally reported on a Form 4 filed by the Issuer on March 9, 2020. The performance units became payable in cash based upon (i) the Issuer's total shareholder return measured against an industry peer group, (ii) on an absolute share return basis and (iii) based on a return on average capital employed metric, over a three-year performance period ending December 31, 2022. Based on the actual performance criteria satisfied, the performance unit multiplier was 151%.
F2	Represents shares of common stock withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person in connection with the vesting of a portion of restricted shares previously granted to the Reporting Person under the Issuer's Omnibus Equity Incentive Plan.

Content

These performance units were granted under the Issuer's Omnibus Equity Incentive Plan and were originally reported on a Form 4 filed by the Issuer on March 9, 2020. The performance units became payable in cash based upon (i) the Issuer's total shareholder return measured against an industry peer group, (ii) on an absolute share return basis and (iii) based on a return on average capital employed metric, over a three-year performance period ending December 31, 2022. Based on the actual performance criteria satisfied, the performance unit multiplier was 151%.

Represents shares of common stock withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person in connection with the vesting of a portion of restricted shares previously granted to the Reporting Person under the Issuer's Omnibus Equity Incentive Plan.