M. Jason Pigott - Mar 3, 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: Mar 3, 2023
Transactions value $: -$5,233,429
Form type: 4
Date filed: 3/7/2023, 06:14 PM
Previous filing: Feb 23, 2023
Next filing: Mar 10, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VTLE	Common Stock	Options Exercise	$0	+83.4K	+60.79%	$0.00	221K	Mar 3, 2023	Direct	F1
transaction	VTLE	Common Stock	Disposed to Issuer	-$4.76M	-83.4K	-37.81%	$57.06	137K	Mar 3, 2023	Direct	F1
transaction	VTLE	Common Stock	Tax liability	-$473K	-8.29K	-6.04%	$57.06	129K	Mar 3, 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	+55.3K		$0.00^*	0	Mar 3, 2023	Common Stock	55.3K		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.