Sean R. Smith - 12 Aug 2022 Form 4 Insider Report for Centennial Resource Development, Inc. (PR)

Role: Chief Executive Officer, Director
Signature: /s/ Davis O'Connor, Attorney-in-Fact
Issuer symbol: PR
Transactions as of: 12 Aug 2022
Transactions value $: -$327,190
Form type: 4
Date filed: 16 Aug 2022, 18:26
Previous filing: 03 Aug 2022
Next filing: 06 Sep 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PR	Class A Common Stock	Award	$0	+102K	+3.17%	$0.00	3.33M	12 Aug 2022	Direct	F1
transaction	PR	Class A Common Stock	Tax liability	-$327K	-44.9K	-1.35%	$7.29	3.28M	12 Aug 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.