4//SEC Filing
Owens Matthew R 4
Accession 0000899243-21-042560
CIK 0001509589other
Filed
Nov 1, 8:00 PM ET
Accepted
Nov 2, 9:06 PM ET
Size
8.8 KB
Accession
0000899243-21-042560
Insider Transaction Report
Form 4
Owens Matthew R
Chief Operating Officer
Transactions
- Award
Common Stock
2021-11-01+21,079→ 21,079 total - Award
Performance Stock Unit
2021-11-01+63,239→ 63,239 total→ Common Stock (63,239 underlying)
Footnotes (4)
- [F1]Represents restricted stock units ("RSUs") that settle in shares of Civitas Resources, Inc. (the "Issuer") common stock received in exchange for RSUs that settled in shares of Extraction Oil & Gas, Inc. ("Extraction") common stock in connection with the consummation of the transaction (the "Merger") contemplated in that certain agreement and plan of merger (the "Merger Agreement") by and between Bonanza Creek Energy, Inc., Raptor Eagle Merger Sub, Inc. and Extraction, dated as of May 9, 2021. Pursuant to the Merger Agreement, the outstanding Extraction RSUs immediately prior to the effective time of the Merger were assumed by the Issuer and converted into a number of RSUs with respect to shares of Issuer common stock equal to the product of the outstanding Extraction RSUs multiplied by 1.1711 and rounded to the nearest number of whole shares. Each RSU represents a contingent right to receive one share of Issuer common stock.
- [F2](continued from footnote 1) The RSUs vest ratably over three years on January 20, 2022, January 20, 2023 and January 20, 2024, subject to continued service through each vesting date, and will be settled in shares of Issuer common stock.
- [F3]Each performance unit ("PSU") represents a contingent right to receive one share of Issuer common stock.
- [F4]Represents PSUs that settle in shares of Issuer common stock received in exchange for 54,000 PSUs that settled in shares of Extraction common stock in connection with consummation of the Merger. The PSUs will vest upon the achievement by the Issuer of certain goals pertaining to absolute total stockholder return, subject to continued service through January 20, 2024.
Documents
Issuer
CIVITAS RESOURCES, INC.
CIK 0001509589
Entity typeother
Related Parties
1- filerCIK 0001685843
Filing Metadata
- Form type
- 4
- Filed
- Nov 1, 8:00 PM ET
- Accepted
- Nov 2, 9:06 PM ET
- Size
- 8.8 KB