Byers Deborah L 4

What Happened Deborah L. Byers, a director of Civitas Resources, Inc., disposed of 20,286 shares of Civitas common stock on January 30, 2026. The Form 4 reports the transaction as a disposition to the issuer (code D) with no per-share price listed (N/A). The disposition occurred in connection with Civitas’s merger into SM Energy; under the merger each Civitas share was converted into the right to receive 1.45 shares of SM Energy common stock. Using SM Energy’s Jan 29, 2026 close of $18.87, the implied value of the surrendered Civitas shares is roughly $555,000 (estimate).

Key Details

• Transaction date: 2026-01-30; Transaction code: D (Disposition to issuer).
• Shares disposed: 20,286 Civitas common shares; price reported as N/A on the Form 4.
• Implied conversion: 1.45 SM Energy shares per Civitas share (Merger Agreement); SM Energy Jan 29 close = $18.87 → implied estimate ≈ $555K.
• Shares owned after transaction: not specified for Civitas on this filing (Civitas common stock was converted in the merger).
• Notable footnotes: F1 summarizes the merger mechanics (Civitas merged into SM Energy with conversion at 1.45x). F2 notes Civitas deferred stock units vested and were converted into SM Energy DSUs (rounded up as applicable).
• Filing timeliness: filing date 2026-01-30; no late filing flag indicated.

Context This was a corporate-merger related conversion/surrender of Civitas shares rather than an open-market sale or a routine insider sale. The transaction reflects the merger consideration mechanics (conversion into SM Energy stock/units), so the Form 4 shows the Civitas disposition itself and not a typical cash sale.