Earnings Feed
Start Free
Diamondback Energy, Inc.·4

Mar 3, 5:51 PM ET

Wesson Daniel N 4

Research Summary

AI-generated summary

Updated

Diamondback (FANG) Exec VP Daniel N. Wesson Receives Awards

What Happened

  • Daniel N. Wesson, Executive Vice President & COO of Diamondback Energy (FANG), had restricted stock units (RSUs) vest and settle on March 1, 2026. A total of 38,705 shares were issued/settled (grants of 10,150; 26,578; and 1,977 shares).
  • To satisfy tax withholding obligations, the company withheld/disposed 15,533 of those shares in several batches (10,459; 793; 1,034; 1,395; 1,332 on March 1 and 520 on March 8) at a withholding rate/price of $174.08 per share, totaling about $2,703,986. Net shares retained by Wesson after withholding were approximately 23,172.

Key Details

  • Transaction dates and prices:
    • Vest/settlement (awards/acquisitions): March 1, 2026 — 38,705 RSUs acquired (no purchase price).
    • Share withholding to satisfy taxes (dispositions): mostly March 1, 2026 (and one on March 8, 2026) at $174.08/share; total withheld shares = 15,533; total value ≈ $2,703,986.
  • Shares owned after transaction: not specified in the filing.
  • Notable footnotes:
    • These were restricted stock units — a mix of time‑based and performance‑based RSUs (grants from March 1, 2019; March 1, 2023; and later time‑based grants) that vested/settled as certified by the company’s compensation committee.
    • The company satisfied tax withholding by withholding shares; the number withheld was calculated using the closing price on Feb 27, 2026.
  • Filing timeliness: filing date provided was March 3, 2026 (covering March 1 vesting). The filing itself does not indicate a late/untimely status.

Context

  • These transactions are vesting/settlement events and tax-withholding dispositions (Form 4 code A for award/grant and F for payment of tax liability). This is not an open‑market purchase or voluntary sale by the insider — it reflects compensation being paid in stock and standard payroll tax withholding (a form of cashless settlement).
  • Performance-based RSUs were certified by the compensation committee (per footnotes) before settlement; such awards reflect prior performance criteria and service, not a contemporaneous buy/sell signal by the insider.