Foran Joseph Wm 4
4 · Matador Resources Co · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Matador (MTDR) CEO Joseph Foran Exercises Derivatives, Receives 70k Award
What Happened
Joseph Wm Foran, Chairman & CEO of Matador Resources (MTDR), had multiple derivative vesting/settlement events and received a new equity-linked award in mid-February 2026. On Feb 14 and Feb 16, 2026 he settled a total of 33,333 phantom units (13,333 + 10,000 + 10,000) for cash at $47.80 per unit, yielding approximately $1,593,317.40. No common shares were issued or sold in those settlements. On Feb 17, 2026 he acquired (was granted) 70,000 phantom units as an award.
Key Details
- Transaction types: M = exercise/conversion (cash settlement of phantom units); A = grant/award (new phantom-unit award).
- Cash settlement: 33,333 phantom units × $47.80 = ~$1,593,317.40 (rate based on closing price on Feb 13, 2026). (Footnotes F1, F4)
- Grant: 70,000 phantom units awarded on Feb 17, 2026 (Footnotes F6–F7).
- Vesting: These phantom-unit awards generally vest in equal annual installments over three years (see Footnotes F2–F5, F7). Some prior grants had vesting anniversaries on Feb 14/Feb 16 of prior years.
- Ownership after transaction: Not specified in the provided filing details.
- Filing date: Report filed 2026-02-18 (covers transactions dated Feb 14–17, 2026).
Context
- Phantom units are cash-settled, stock‑linked awards that track the economic value of common shares but do not necessarily result in issuance of stock; here the settled units paid out cash and no shares were issued or sold.
- These actions appear to be routine compensation vesting/settlement and a new award grant — factual events tied to executive compensation rather than an open‑market buy or sell.
Insider Transaction Report
Form 4
Foran Joseph Wm
DirectorChairman and CEO
Transactions
- Exercise/Conversion
Phantom Units
[F1][F2]2026-02-14−13,333→ 26,667 total→ Common Stock (13,333 underlying) - Exercise/Conversion
Phantom Units
[F1][F3]2026-02-14−10,000→ 10,000 total→ Common Stock (10,000 underlying) - Exercise/Conversion
Phantom Units
[F4][F5]2026-02-16−10,000→ 0 total→ Common Stock (10,000 underlying) - Award
Phantom Units
[F6][F7]2026-02-17+70,000→ 70,000 total→ Common Stock (70,000 underlying)
Footnotes (7)
- [F1]Each phantom unit is the economic equivalent of one share of the Issuer's common stock. As required by the terms of the award, upon the February 14, 2026 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $47.80 per unit based upon the closing price of the Issuer's common stock on February 13, 2026 No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction.
- [F2]The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 14, 2025
- [F3]The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 14, 2024.
- [F4]Each phantom unit is the economic equivalent of one share of the Issuer's common stock. As required by the terms of the award, upon the February 16, 2026 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $47.80 per unit based upon the closing price of the Issuer's common stock on February 13, 2026 No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction.
- [F5]The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 16, 2023.
- [F6]Each phantom unit is the economic equivalent of one share of the Issuer's common stock.
- [F7]The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant.
Signature
/s/ Joseph Wm. Foran, by Cale L. Curtin as attorney-in-fact|2026-02-18