Daniel N. Wesson - 31 Dec 2022 Form 5 Insider Report for Diamondback Energy, Inc. (FANG)

Role: Exec. VP & COO
Signature: /s/ Teresa L. Dick as attorney-in-fact for Daniel N. Wesson
Issuer symbol: FANG
Transactions as of: 31 Dec 2022
Net transactions value: $0
Form type: 5
Filing time: 12 Jan 2023, 15:13:51 UTC
Previous filing: 03 Mar 2022
Next filing: 03 Mar 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	$0	+24,134	+72%	$0.000000	57,824	24 Aug 2022	Direct	F1, F2

* 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.
F2	Includes 12,915 restricted stock units, each representing a contingent right to receive one share of Common Stock of the Issuer, that are scheduled to vest in two remaining substantially equal installments beginning on May 28, 2023.

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.

Includes 12,915 restricted stock units, each representing a contingent right to receive one share of Common Stock of the Issuer, that are scheduled to vest in two remaining substantially equal installments beginning on May 28, 2023.