STEVEN E. WEST - 24 Aug 2022 Form 4 Insider Report for Diamondback Energy, Inc. (FANG)

Role: Director
Signature: /s/ Teresa L. Dick, as attorney-in-fact for Steven E. West
Issuer symbol: FANG
Transactions as of: 24 Aug 2022
Net transactions value: $0
Form type: 4
Filing time: 24 Aug 2022, 17:40:38 UTC
Previous filing: 13 Jul 2022
Next filing: 12 Jun 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FANG	Common Stock	Award		+4,108	+55%		11,573	24 Aug 2022	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Pursuant to that certain Agreement and Plan of Merger dated May 15, 2022 by and among the Issuer, Rattler Midstream LP ("Rattler"), Rattler Midstream GP LLC, the general partner of Rattler, and Bacchus Merger Sub Company, a wholly owned subsidiary of the Issuer ("Merger Sub"), on August 24, 2022, Merger Sub merged with and into Rattler, with Rattler surviving as an indirect, wholly owned subsidiary of the Issuer (the "Merger"). At the effective time of the Merger, each outstanding Rattler common unit held by the Reporting Person was converted into the right to receive 0.113 shares of common stock, par value $0.01 per share ("Common Stock"), of the Issuer.

Content

Pursuant to that certain Agreement and Plan of Merger dated May 15, 2022 by and among the Issuer, Rattler Midstream LP ("Rattler"), Rattler Midstream GP LLC, the general partner of Rattler, and Bacchus Merger Sub Company, a wholly owned subsidiary of the Issuer ("Merger Sub"), on August 24, 2022, Merger Sub merged with and into Rattler, with Rattler surviving as an indirect, wholly owned subsidiary of the Issuer (the "Merger"). At the effective time of the Merger, each outstanding Rattler common unit held by the Reporting Person was converted into the right to receive 0.113 shares of common stock, par value $0.01 per share ("Common Stock"), of the Issuer.