Davis O'Connor - Aug 12, 2022 Form 4 Insider Report for Centennial Resource Development, Inc. (PR)

Role: EVP, General Counsel
Signature: /s/ Davis O'Connor
Stock symbol: PR
Transactions as of: Aug 12, 2022
Transactions value $: -$179,429
Form type: 4
Date filed: 8/16/2022, 06:25 PM
Previous filing: Aug 3, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PR	Class A Common Stock	Award	$0	+56.1K	+3.68%	$0.00	1.58M	Aug 12, 2022	Direct	F1
transaction	PR	Class A Common Stock	Tax liability	-$179K	-24.6K	-1.56%	$7.29	1.56M	Aug 12, 2022	Direct

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

Explanation of Responses:

Id	Content
F1	On July 30, 2019, the reporting person was granted an award of performance restricted stock units, which vest in the form of common stock if certain pre-established performance goals underlying the award are met over the course of a three-year period. On August 12, 2022, the Compensation Committee of the Issuer's Board of Directors certified the level at which the performance goals had been met, resulting in the vesting of these shares.

Content

On July 30, 2019, the reporting person was granted an award of performance restricted stock units, which vest in the form of common stock if certain pre-established performance goals underlying the award are met over the course of a three-year period. On August 12, 2022, the Compensation Committee of the Issuer's Board of Directors certified the level at which the performance goals had been met, resulting in the vesting of these shares.