Counts Travis L 4

What Happened
Travis L. Counts, Chief Administrative Officer & Secretary of Civitas Resources, reported two dispositions to the issuer on January 30, 2026: 61,568 shares and 82,730 shares (the latter reported as a derivative-related disposition), for a total of 144,298 shares surrendered to the issuer. The filing lists no per-share price or sale proceeds. These transactions occurred in connection with the company’s merger into SM Energy (see footnotes).

Key Details

• Transaction date: 2026-01-30; Filing date / Period of Report: 2026-01-30 (timely filed).
• Transactions: two "D" (Disposition to Issuer) entries — 61,568 shares and 82,730 shares (derivative). Total = 144,298 shares.
• Price / proceeds: Not reported in the Form 4 (N/A).
• Estimated market context: footnote states SM Energy closed at $18.87 on Jan 29, 2026; using that price as context, 144,298 shares would be roughly $2.72M (this is an estimate and the filing does not state proceeds).
• Shares owned after transaction: not disclosed in the provided filing details.
• Footnotes: (1) Civitas merged into SM Energy per a Merger Agreement; each Civitas share converted into the right to receive 1.45 SM Energy shares. (2–3) Outstanding Civitas RSUs/PSUs were assumed/converted into SM Energy restricted stock units per the merger terms. The derivative disposition likely relates to award conversions/settlements.
• Filing timeliness: filed same day as the report period (no late filing indicated).

Context
A "Disposition to Issuer" typically means shares were returned to the company (often to satisfy tax withholding or related to award conversion/settlement), and the filing shows one disposal was derivative-related, consistent with the merger-driven conversion of RSUs/PSUs to SM Energy awards. The Form 4 does not disclose sale proceeds or the insider’s post-transaction holdings, so this report documents the surrender/return of shares rather than an open-market sale.