Jennifer Soliman - Aug 24, 2022 Form 4 Insider Report for Diamondback Energy, Inc. (FANG)

Role: Exec. VP and Chief HR Officer
Signature: /s/ Teresa L. Dick, as attorney-in-fact for Jennifer Soliman
Stock symbol: FANG
Transactions as of: Aug 24, 2022
Transactions value $: $0
Form type: 4
Date filed: 1/12/2023, 03:14 PM
Previous filing: Mar 9, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FANG	Common Stock	Award	$0	+1.48K	+15.6%	$0.00	11K	Aug 24, 2022	Direct	F1, F2

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

Jennifer Soliman is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

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, (i) each outstanding Rattler common unit held by the Reporting Person was converted into the right to receive 0.113 shares (the "Exchange Ratio") of common stock, par value $0.01 per share ("Common Stock"), of the Issuer and (ii) each outstanding Rattler phantom unit held by the Reporting Person was converted into the right to receive the Issuer's restricted stock units, as adjusted by the Exchange Ratio, with the same vesting schedule and other terms and conditions as the corresponding Rattler phantom units.
F2	Ms. Soliman departed the Company effective in October 2022.

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, (i) each outstanding Rattler common unit held by the Reporting Person was converted into the right to receive 0.113 shares (the "Exchange Ratio") of common stock, par value $0.01 per share ("Common Stock"), of the Issuer and (ii) each outstanding Rattler phantom unit held by the Reporting Person was converted into the right to receive the Issuer's restricted stock units, as adjusted by the Exchange Ratio, with the same vesting schedule and other terms and conditions as the corresponding Rattler phantom units.

Ms. Soliman departed the Company effective in October 2022.