Baty Robert Gaines 4

What Happened
Baty Robert Gaines, a director of Matador Resources Co (MTDR), received an award of 3,642 restricted stock units (RSUs) on June 11, 2026. The grant was reported as an Award/Grant (code A) at $0.00 per share (typical for RSUs), so there was no immediate cash exchanged.

Key Details

• Transaction date: 2026-06-11 (reported on Form 4 filed 2026-06-15).
• Grant: 3,642 RSUs @ $0.00 (total immediate value reported $0).
• Vesting: RSUs vest on June 11, 2027, or, if sooner, immediately prior to the election of director nominees at the 2027 annual meeting.
• Delivery: Under the company’s Nonqualified Deferred Compensation Plan for Non-Employee Directors, Gaines has deferred delivery of vested RSUs until the earlier of separation of service or a change in control; on that Delivery Date the vested RSUs will be converted into the same number of common shares within 30 days.
• Shares owned after transaction: not disclosed in the provided filing.
• Timeliness: Filing dated 2026-06-15 appears to meet the standard 2-business-day Form 4 filing requirement for a 2026-06-11 transaction.
• Transaction code: A (award/grant).

Context
RSUs are a common form of equity compensation for directors and represent a promise to deliver shares in the future if vesting conditions are met; they do not convey immediate ownership or cash unless/until vested and delivered. This award is a compensation/retention grant rather than an open-market purchase or sale, so it should be viewed as routine director compensation rather than a direct buy or sell signal.