NOTICE OF SPECIAL MEETING OF STOCKHOLDERS OF VITAL ENERGY, INC. TO BE HELD ON NOVEMBER 21, 2023 To the Stockholders of Vital Energy, Inc.: A special meeting of stockholders (the “Special Meeting”) of Vital Energy, Inc. (“Vital Energy” or the “Company”) will be held on Tuesday, November 21, 2023 at 9:00 a.m. Central Time. The Special Meeting will be held at Santa Fe Plaza Building, 521 E. 2nd Street, Tulsa, Oklahoma 74120 for the following purposes: 1. A proposal to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), from 40,000,000 to 80,000,000 (the “Charter Amendment Proposal” or “Proposal One”); 2. A proposal to approve the issuance of shares of Common Stock, upon conversion of the Company’s 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock, par value $0.01 per share (the “Preferred Stock”), for purposes of complying with Rule 312.03 of the New York Stock Exchange (“NYSE”) Listed Company Manual (“NYSE Rule 312.03”) (the “Conversion Proposal” or “Proposal Two”); and 3. A proposal to approve one or more adjournments of the Special Meeting, if necessary or appropriate, to permit solicitation of additional votes if there are insufficient votes to approve the Charter Amendment Proposal or the Conversion Proposal (the “Adjournment Proposal” or “Proposal Three”). Each of the foregoing proposals is more fully described in the accompanying proxy statement, which each stockholder is encouraged to read carefully. In addition to the foregoing, the Special Meeting will include the transaction of such other business as may be properly presented at the Special Meeting. The Board of Directors of the Company has fixed the close of business of October 19, 2023 as the record date for the determination of stockholders entitled to notice of and to vote at the Special Meeting or any adjournment thereof. A list of stockholders eligible to vote at the Special Meeting will be available for review during our regular business hours at our principal offices in Tulsa, Oklahoma for the 10 days prior to the Special Meeting for review for any purposes related to the Special Meeting. You are cordially invited to attend the Special Meeting in person. However, to assure your representation at the Special Meeting, you are urged to vote by proxy by following the instructions contained in the proxy statement. You may revoke your proxy in the manner described in the proxy statement at any time before it has been voted at the Special Meeting. Any stockholder attending the Special Meeting may vote in person even if he or she has returned a proxy. Your vote is important. Whether or not you plan to attend the Special Meeting, we hope that you will vote as soon as possible. Tulsa, Oklahoma , 2023 By order of the board of directors Mark Denny Senior Vice President—General Counsel & Secretary | |||||||||
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Proposal One—Approval of Amendment to Third Amended and Restated Certificate of Incorporation to Increase the Number of Authorized Shares of Common Stock | | | | | 9 | | | |
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| 2021 Workforce Metrics (as of December 31, 2021) | | |||||||||
| 26% | | | 27% | | | 4% | | | 34% | |
| diverse based on ethnicity | | | diverse based on gender | | | US military veterans | | | women in professional roles or higher | |
| | | | Item | | Board’s recommendation | | | Voting requirements | | | Abstentions & broker non-votes | | |||
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| | FOR | | | • To be approved by the stockholders, this item must receive the “FOR” vote of the holders of a majority of the Common Stock outstanding and entitled to vote thereon. | | | Abstentions, if any, will have the effect of a vote against this proposal. As this proposal is considered routine under NYSE rules, there will be no broker non-votes on this proposal. | | ||||||
| 2 | | | Approval of the issuance of the Conversion Shares for purposes of NYSE Rule 312.03 | | | FOR | | | • To be approved by the stockholders, this item must receive the “FOR” vote of a majority of the votes cast on this proposal at the Special Meeting. | | | • Abstentions and broker non-votes, if any, are not counted as votes cast and will have no effect on the outcome of this proposal. | | |
| 3 | | | Approval of the Adjournment Proposal, if necessary or appropriate | | | FOR | | | • To be approved by the stockholders, this item must receive the “FOR” vote of a majority of the votes cast on this proposal at the Special Meeting. | | | • Abstentions, if any, are not counted as votes cast and will have no effect on the outcome of this proposal. As this proposal is considered routine under NYSE rules, there will be no broker non-votes on this proposal. | |
| Name | | | Fees earned or paid in cash(1) | | | Stock awards(1)(2) | | | Deferred stock awards(1)(2)(3) | | | All other Compensation(4) | | | Total | | |||||||||||||||
| William E. Albrecht | | | | $ | 169,944 | | | | | $ | — | | | | | $ | 130,056 | | | | | $ | 1,000 | | | | | $ | 301,000 | | |
| Frances Powell Hawes | | | | $ | 119,912 | | | | | $ | — | | | | | $ | 115,088 | | | | | $ | — | | | | | $ | 235,000 | | |
| Dr. Craig M. Jarchow | | | | $ | 119,912 | | | | | $ | — | | | | | $ | 115,088 | | | | | $ | — | | | | | $ | 235,000 | | |
| Jarvis V. Hollingsworth | | | | $ | 89,918 | | | | | $ | 140,082 | | | | | $ | — | | | | | $ | — | | | | | $ | 230,000 | | |
| Lori A. Lancaster | | | | $ | 114,912 | | | | | $ | — | | | | | $ | 115,088 | | | | | $ | — | | | | | $ | 230,000 | | |
| Pamela S. Pierce | | | | $ | 99,912 | | | | | $ | 115,088 | | | | | $ | — | | | | | $ | 1,000 | | | | | $ | 216,000 | | |
| Lisa M. Lambert | | | | $ | 99,912 | | | | | $ | 115,088 | | | | | $ | — | | | | | $ | — | | | | | $ | 215,000 | | |
| Edmund P. Segner, III | | | | $ | 99,912 | | | | | $ | — | | | | | $ | 115,088 | | | | | $ | — | | | | | $ | 215,000 | | |
| Dr. Myles W. Scoggins(5) | | | | $ | 28,756 | | | | | $ | 24,994 | | | | | $ | — | | | | | $ | — | | | | | $ | 53,750 | | |
| James R. Levy(5) | | | | $ | 25,006 | | | | | $ | 24,994 | | | | | $ | — | | | | | $ | — | | | | | $ | 50,000 | | |
| | | | | | | COMMITTEES | | | | ||||||||||
| | | | Board | | | Audit | | | Compensation | | | NGE&S | | | Finance | | | Total | |
| Meetings in 2021 | | | 7 | | | 5 | | | 5 | | | 5 | | | 3 | | | 25 | |
| | | | 2021 | | | 2020 | | ||||||
| Audit fees(1) | | | | $ | 825,000 | | | | | $ | 690,000 | | |
| Tax fees(2) | | | | | 19,610 | | | | | | 19,610 | | |
| Total | | | | $ | 844,610 | | | | | $ | 709,610 | | |
| Name | | | Principal Position | | | Salary as a percentage of total compensation(2) | | | Cash awards as a percentage of total compensation(2) | | | Equity-based awards as a percentage of total compensation(3) | |
| Jason Pigott | | | President and Chief Executive Officer | | | 12% | | | 20% | | | 68% | |
| Bryan Lemmerman | | | Senior Vice President and Chief Financial Officer | | | 15% | | | 20% | | | 62% | |
| Karen Chandler | | | Senior Vice President and Chief Operating Officer | | | 14% | | | 19% | | | 67% | |
| Mark Denny | | | Senior Vice President General Counsel & Secretary | | | 20% | | | 25% | | | 54% | |
|
| | | | | | 2019 | | | | 2020 | | | | 2021 | | |
| | Cumulative Oil-Weighted Acres Acquired | | | | ~12,000 | | | | ~15,500 | | | | ~56,500 | | |
| | Oil % of Total Production | | | | 35% | | | | 31% | | | | 39% | | |
| | Leverage Ratio(1) | | | | 2.0x | | | | 2.4x | | | | 1.9x | | |
| Name | | | 2020 salary rate(1) ($) | | | 2021 salary rate(1) ($) | | | | Percent change | | |||||||||
| Jason Pigott | | | | | 720,000 | | | | | | 720,000 | | | | | | | —% | | |
| Bryan Lemmerman | | | | | 440,000 | | | | | | 440,000 | | | | | | | —% | | |
| Karen Chandler | | | | | 450,000 | | | | | | 470,000 | | | | | | | 4% | | |
| Mark Denny | | | | | 325,000 | | | | | | 350,000 | | | | | | | 8% | | |
| Name | | | 2020 STIP target percentage(1) | | | 2021 STIP target percentage(1) | | ||||||
| Jason Pigott | | | | | 110% | | | | | | 110% | | |
| Bryan Lemmerman | | | | | 90% | | | | | | 90% | | |
| Karen Chandler | | | | | 85% | | | | | | 90% | | |
| Mark Denny | | | | | 85% | | | | | | 85% | | |
| | | | | | | | | | Targets & Weighting | | | 2021 Results | | | ||||||||||||||||||||||||||||||||
| | | | 2020 Results | | | Minimum Threshold | | | Target | | | Stretch Target | | | Relative Weighting | | | 2021 Results | | | Metric Payout | | | Core Focus Are | | |||||||||||||||||||||
| Spill Severity Rate(1) | | | | | 28.7 | | | | | | 28.7 | | | | | | 27.3 | | | | | | 25.8 | | | | | | 7.5% | | | | | | 8 | | | | | | 200% | | | | Environmental Operational | |
| Air Stewardship(2) | | | | | 7,125 | | | | | | 7,125 | | | | | | 6,769 | | | | | | 6,413 | | | | | | 7.5% | | | | | | 3,698 | | | | | | 200% | | | | Environmental Operational | |
| Drilling Rate Of Return(3) | | | | | 30% | | | | | | 30% | | | | | | 35% | | | | | | 42% | | | | | | 20% | | | | | | 27% | | | | | | 0% | | | | Operational | |
| Free Cash Flow ($MM)(4) | | | | $ | 9 | | | | | $ | 0 | | | | | $ | 25 | | | | | $ | 60 | | | | | | 20% | | | | | $ | 50 | | | | | | 172% | | | | Operational Financial | |
| Lease Operating Expense per BOE(5) | | | | $ | 2.55 | | | | | $ | 3.20 | | | | | $ | 3.10 | | | | | $ | 2.90 | | | | | | 15% | | | | | $ | 2.99 | | | | | | 158% | | | | Operational | |
| Gross Inventory Added with 8 minimum 25% Drilling ROR (Well Count)(6) | | | | | 15 | | | | | | 60 | | | | | | 90 | | | | | | 180 | | | | | | 30% | | | | | | 282 | | | | | | 200% | | | | Operational Financial | |
| Performance Metric Results | | | | | | | | | | | 50% | | | | | | 100% | | | | | | 200% | | | | | | 100% | | | | | | | | | | | | 148% | | | | | |
| Name | | | 2021 STIP salary | | | 2021 STIP target percentage | | | 2021 STIP target value | | | Award payout | | | Approved percent payout to target | | |||||||||||||||
| Jason Pigott | | | | | 720,000 | | | | | | 110% | | | | | | 792,000 | | | | | | 1,172,160 | | | | | | 148% | | |
| Bryan Lemmerman | | | | | 440,000 | | | | | | 90% | | | | | | 396,000 | | | | | | 586,080 | | | | | | 148% | | |
| Karen Chandler | | | | | 466,154 | | | | | | 90% | | | | | | 419,539 | | | | | | 620,917 | | | | | | 148% | | |
| Mark Denny | | | | | 345,192 | | | | | | 85% | | | | | | 293,413 | | | | | | 434,252 | | | | | | 148% | | |
| Name | | | 2020 long-term incentive target percentage(1) | | | 2021 long-term incentive target percentage(1) | | ||||||
| Jason Pigott | | | | | 485% | | | | | | 485% | | |
| Bryan Lemmerman | | | | | 350% | | | | | | 350% | | |
| Karen Chandler | | | | | 450% | | | | | | 415% | | |
| Mark Denny | | | | | 231% | | | | | | 231% | | |
| | | | | | | | | | Restricted stock(1) | | | Performance units(2) | | ||||||||||||||||||
| Name | | | Grant date | | | Shares of stock (#) | | | Grant-date fair value ($) | | | Units (#) | | | Grant-date fair value ($) | | |||||||||||||||
| Jason Pigott | | | | | 3/9/2021 | | | | | | 49,322 | | | | | | 1,709,501 | | | | | | 49,322 | | | | | | 2,298,898 | | |
| Bryan Lemmerman | | | | | 3/9/2021 | | | | | | 21,751 | | | | | | 753,890 | | | | | | 21,751 | | | | | | 1,013,814 | | |
| Karen Chandler | | | | | 3/9/2021 | | | | | | 27,549 | | | | | | 954,848 | | | | | | 27,549 | | | | | | 1,284,059 | | |
| Mark Denny | | | | | 3/9/2021 | | | | | | 11,419 | | | | | | 395,783 | | | | | | 11,419 | | | | | | 532,240 | | |
| Name | | | 2021 salary rate ($) | | | 2022 salary rate ($) | | | | Salary rate percentage change | | |||||||||
| Jason Pigott | | | | | 720,000 | | | | | | 775,000 | | | | | | | 7.6% | | |
| Bryan Lemmerman | | | | | 440,000 | | | | | | 475,000 | | | | | | | 8.0% | | |
| Karen Chandler | | | | | 470,000 | | | | | | 485,000 | | | | | | | 3.2% | | |
| Mark Denny | | | | | 350,000 | | | | | | 375,000 | | | | | | | 7.1% | | |
| Name | | | 2021 STIP target percentage(1) | | | 2022 STIP target percentage(1) | | | STIP target percentage charge | | |||||||||
| Jason Pigott | | | | | 110% | | | | | | 125% | | | | | | 13.6% | | |
| Bryan Lemmerman | | | | | 90% | | | | | | 90% | | | | | | —% | | |
| Karen Chandler | | | | | 90% | | | | | | 90% | | | | | | —% | | |
| Mark Denny | | | | | 85% | | | | | | 85% | | | | | | —% | | |
| 2022 STIP performance metric | | | 2021 Results | | | Minimum Threshold | | | Target | | | Stretch Target | | | Relative weighting | | |||||||||||||||
| Environmental and Safety | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Spill Intensity(1) | | | | | 0.0172 | | | | | | 0.040 | | | | | | 0.030 | | | | | | 0.015 | | | | | | 5.0% | | |
| Air Stewardship(2) | | | | | 7,850 | | | | | | 6,300 | | | | | | 5,900 | | | | | | 5,500 | | | | | | 5.0% | | |
| Contractor plus Employee TRIR(3) | | | | | 1.44 | | | | | | 0.65 | | | | | | 0.44 | | | | | | 0.00 | | | | | | 5.0% | | |
| Employee DART(4) | | | | | 1.22 | | | | | | 0.35 | | | | | | 0.2 | | | | | | 0.00 | | | | | | 5.0% | | |
| Operated Base Performance, BOPD(5) | | | | | — | | | | | | -2.5% | | | | | | 0.0% | | | | | | 3.0% | | | | | | 10.0% | | |
| Operated Wedge Performance, CUM Type Curve BOPD(6) | | | | | — | | | | | | -6.5% | | | | | | 0.0% | | | | | | 8.0% | | | | | | 10.0% | | |
| Cash Cost per BOE(7) | | | | $ | 6.88 | | | | | $ | 7.94 | | | | | $ | 7.70 | | | | | $ | 7.39 | | | | | | 15.0% | | |
| Free Cash Flow (MM)(8) | | | | $ | 11 | | | | | $ | 200 | | | | | $ | 300 | | | | | $ | 400 | | | | | | 20.0% | | |
| Gross Inventory Added with a minimum 25% Drilling ROR (Well Count)(9) | | | | | 282 | | | | | | 60 | | | | | | 90 | | | | | | 180 | | | | | | 25.0% | | |
| Name | | | 2021 long-term incentive target percentage(1) | | | 2022 long-term incentive target percentage(1) | | | LTIP target percentage change | | |||||||||
| Jason Pigott | | | | | 485% | | | | | | 516% | | | | | | 6.4% | | |
| Bryan Lemmerman | | | | | 350% | | | | | | 375% | | | | | | 7.1% | | |
| Karen Chandler | | | | | 415% | | | | | | 402% | | | | | | (3.1)% | | |
| Mark Denny | | | | | 231% | | | | | | 250% | | | | | | 8.2% | | |
| | | | | | | | | | Restricted stock(1) | | | Performance units(2) | | ||||||||||||||||||
| Name | | | Grant date | | | Shares of stock (#) | | | Grant-date fair value ($) | | | Units (#) | | | Grant-date fair value ($) | | |||||||||||||||
| Jason Pigott | | | | | 2/22/2022 | | | | | | 28,810 | | | | | $ | 1,930,846 | | | | | | 28,810 | | | | | $ | 2,585,986 | | |
| Bryan Lemmerman(3) | | | | | 2/22/2022 | | | | | | 27,235 | | | | | $ | 1,825,290 | | | | | | 12,830 | | | | | $ | 1,151,621 | | |
| Karen Chandler | | | | | 2/22/2022 | | | | | | 14,045 | | | | | $ | 941,296 | | | | | | 14,045 | | | | | $ | 1,260,679 | | |
| Mark Denny | | | | | 2/22/2022 | | | | | | 6,763 | | | | | $ | 453,256 | | | | | | 6,763 | | | | | $ | 607,047 | | |
| | | | Relative TSR (quartile) | | ||||||||||||||||||||||||
| | | | | | | 1st | | | 2nd | | | 3rd | | | 4th | | ||||||||||||
| 1-Year Absolute Return | | | <8% | | | | | 75% | | | | | | 50% | | | | | | 25% | | | | | | 0% | | |
| ≥8% and <14% | | | | | 100% | | | | | | 75% | | | | | | 50% | | | | | | 25% | | | |||
| ≥14% and <20% | | | | | 200% | | | | | | 100% | | | | | | 75% | | | | | | 50% | | | |||
| ≥20% | | | | | 250% | | | | | | 200% | | | | | | 100% | | | | | | 75% | | |
| Name and principal position | | | Year | | | Salary ($)(1) | | | Restricted stock awards ($)(2) | | | Performance unit awards ($)(2) | | | Out- performance award ($)(2) | | | Stock awards total ($) | | | Non-equity Incentive Plan Compensation ($)(1)(3) | | | All other compensation ($)(4) | | | Total ($) | | |||||||||||||||||||||||||||
| Jason Pigott President and Chief Executive Officer | | | | | 2021 | | | | | | 720,000 | | | | | | 1,709,501 | | | | | | 2,298,898 | | | | | | N/A | | | | | | 4,008,399 | | | | | | 1,172,160 | | | | | | 33,290 | | | | | | 5,933,849 | | |
| | | 2020 | | | | | | 720,000 | | | | | | 906,152 | | | | | | 850,899 | | | | | | N/A | | | | | | 1,757,051 | | | | | | 792,000 | | | | | | 27,535 | | | | | | 3,296,586 | | | |||
| | | 2019 | | | | | | 412,615 | | | | | | 2,394,660 | | | | | | 1,481,455 | | | | | | 670,000 | | | | | | 4,546,115 | | | | | | 2,129,120 | | | | | | 130,091 | | | | | | 7,217,941 | | | |||
| Bryan Lemmerman Senior Vice President and Chief Financial Officer | | | | | 2021 | | | | | | 440,000 | | | | | | 753,890 | | | | | | 1,013,814 | | | | | | N/A | | | | | | 1,767,704 | | | | | | 586,080 | | | | | | 72,286 | | | | | | 2,866,070 | | |
| | | 2020 | | | | | | 209,846 | | | | | | 771,559 | | | | | | N/A | | | | | | N/A | | | | | | 771,559 | | | | | | 996,000 | | | | | | 17,816 | | | | | | 1,995,221 | | | |||
| | | 2019 | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | |||
| Karen Chandler Senior Vice President and Chief Operating Officer | | | | | 2021 | | | | | | 466,154 | | | | | | 954,848 | | | | | | 1,284,059 | | | | | | N/A | | | | | | 2,238,907 | | | | | | 620,917 | | | | | | 29,042 | | | | | | 3,355,020 | | |
| | | 2020 | | | | | | 450,000 | | | | | | 525,475 | | | | | | 493,434 | | | | | | N/A | | | | | | 1,018,909 | | | | | | 382,500 | | | | | | 23,342 | | | | | | 1,874,751 | | | |||
| | | 2019 | | | | | | 450,000 | | | | | | 951,472 | | | | | | 1,037,465 | | | | | | N/A | | | | | | 1,988,937 | | | | | | 454,314 | | | | | | 18,210 | | | | | | 2,911,461 | | | |||
| Mark Denny Senior Vice President– General Counsel & Secretary | | | | | 2021 | | | | | | 345,192 | | | | | | 395,783 | | | | | | 532,240 | | | | | | N/A | | | | | | 928,023 | | | | | | 434,252 | | | | | | 22,490 | | | | | | 1,729,957 | | |
| | | 2020 | | | | | | 325,000 | | | | | | 194,815 | | | | | | 182,936 | | | | | | N/A | | | | | | 377,751 | | | | | | 276,250 | | | | | | 19,590 | | | | | | 998,591 | | | |||
| | | 2019 | | | | | | 310,769 | | | | | | 258,423 | | | | | | 281,779 | | | | | | N/A | | | | | | 540,202 | | | | | | 280,003 | | | | | | 17,886 | | | | | | 1,148,860 | | |
| | | | 401(k) match | | | Health savings match | | | Life insurance coverage | | | Charitable gifts match | | | Temporary housing arrangement | | | Total all other compensation | | ||||||||||||||||||
| Jason Pigott | | | | | 17,400 | | | | | | N/A | | | | | | 810 | | | | | | 15,080 | | | | | | N/A | | | | | | 33,290 | | |
| Bryan Lemmerman | | | | | 17,400 | | | | | | 1,200 | | | | | | 810 | | | | | | 9,750 | | | | | | 43,126 | | | | | | 72,286 | | |
| Karen Chandler | | | | | 17,400 | | | | | | N/A | | | | | | 1,242 | | | | | | 10,400 | | | | | | N/A | | | | | | 29,042 | | |
| Mark Denny | | | | | 17,400 | | | | | | N/A | | | | | | 540 | | | | | | 4,550 | | | | | | N/A | | | | | | 22,490 | | |
| | | | Realized compensation | | |||||||||
| Name | | | 2021 | | | 2020 | | ||||||
| Jason Pigott | | | | | 3,552,764 | | | | | | 1,807,413 | | |
| Bryan Lemmerman | | | | | 2,891,680 | | | | | | 1,223,662 | | |
| Karen Chandler | | | | | 1,682,864 | | | | | | 978,892 | | |
| Mark Denny | | | | | 1,011,029 | | | | | | 662,752 | | |
| | | | | | | | | | Estimated future payouts under non-equity incentive plan awards(1) | | | All other stock awards: Number of shares of stock(2) (#) | | | Estimated future payout under equity incentive plan awards (Performance units)(3) | | | Grant-date fair value of stock awards and performance units ($) | | ||||||||||||||||||||||||||||||||||||
| Name | | | Grant date | | | Threshold ($) | | | Target ($) | | | Maximum ($) | | | Threshold (#)(4) | | | Target (#)(5) | | | Maximum (#)(6) | | |||||||||||||||||||||||||||||||||
| Jason Pigott | | | | | 3/9/2021 | | | | | | 396,000 | | | | | | 792,000 | | | | | | 1,584,000 | | | | | | 49,322 | | | | | | 18,496 | | | | | | 49,322 | | | | | | 110,975 | | | | | $ | 4,008,399 | | |
| Bryan Lemmerman | | | | | 3/9/2021 | | | | | | 198,000 | | | | | | 396,000 | | | | | | 792,000 | | | | | | 21,751 | | | | | | 8,157 | | | | | | 21,751 | | | | | | 48,940 | | | | | $ | 1,767,704 | | |
| Karen Chandler | | | | | 3/9/2021 | | | | | | 209,770 | | | | | | 419,539 | | | | | | 839,078 | | | | | | 27,549 | | | | | | 10,331 | | | | | | 27,549 | | | | | | 61,985 | | | | | $ | 2,238,907 | | |
| Mark Denny | | | | | 3/9/2021 | | | | | | 146,707 | | | | | | 293,413 | | | | | | 586,826 | | | | | | 11,419 | | | | | | 4,282 | | | | | | 11,419 | | | | | | 25,693 | | | | | $ | 928,023 | | |
| | | | | | | | | | Restricted stock awards | | | Performance unit awards | | | Outperformance award | | | Stock option awards | | ||||||||||||||||||||||||||||||||||||||||||
| Name | | | Grant date | | | Number of shares not vested (#)(1) | | | Market value of shares not vested ($)(2) | | | Number of unearned units not vested (#)(3) | | | Market value of units not vested ($)(2) | | | Number of unearned units not vested (#)(4) | | | Market value of units not vested ($)(2) | | | Number of securities underlying unexercised options exercisable (#) | | | Exercise price ($) | | | Expiration date | | ||||||||||||||||||||||||||||||
| Jason Pigott | | | | | 3/9/2021 | | | | | | 49,322 | | | | | $ | 2,965,732 | | | | | | 80,395 | | | | | $ | 4,834,151 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | |
| | | 3/5/2020 | | | | | | 37,020 | | | | | $ | 2,226,013 | | | | | | 92,273 | | | | | $ | 5,548,375 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | |||
| | | 6/3/2019 | | | | | | 15,718 | | | | | $ | 945,123 | | | | | | 31,451 | | | | | $ | 1,891,149 | | | | | | 10,000 | | | | | $ | 767,200 | | | | | | — | | | | | $ | — | | | | | | — | | | |||
| Bryan Lemmerman | | | | | 3/9/2021 | | | | | | 21,751 | | | | | $ | 1,307,888 | | | | | | 35,454 | | | | | $ | 2,131,849 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | |
| | | 7/1/2020 | | | | | | 38,039 | | | | | $ | 2,287,285 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | |||
| Karen Chandler | | | | | 3/9/2021 | | | | | | 27,549 | | | | | $ | 1,656,521 | | | | | | 44,905 | | | | | $ | 2,700,138 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | |
| | | 3/5/2020 | | | | | | 21,468 | | | | | $ | 1,290,871 | | | | | | 53,508 | | | | | $ | 3,217,436 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | |||
| | | 2/28/2019 | | | | | | 4,715 | | | | | $ | 283,513 | | | | | | 14,839 | | | | | $ | 892,269 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | |||
| | | 2/17/2017 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | 794 | | | | | $ | 282.40 | | | | | | 2/17/2027 | | | |||
| | | 2/15/2013 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | 821 | | | | | $ | 346.80 | | | | | | 2/15/2023 | | | |||
| Mark Denny | | | | | 3/9/2021 | | | | | | 11,419 | | | | | $ | 686,624 | | | | | | 18,613 | | | | | $ | 1,119,200 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | |
| | | 3/5/2020 | | | | | | 7,958 | | | | | $ | 478,515 | | | | | | 19,836 | | | | | $ | 1,192,739 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | |||
| | | 2/28/2019 | | | | | | 1,281 | | | | | $ | 77,027 | | | | | | 4,030 | | | | | $ | 242,324 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | |||
| | | 2/17/2017 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | 504 | | | | | $ | 282.40 | | | | | | 2/17/2027 | | | |||
| | | 2/19/2016 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | 1,338 | | | | | $ | 82.00 | | | | | | 2/19/2026 | | |
| Company | | | 2019 | | | 2020 | | | 2021 | |
| Amplify Energy Corp. | | | | | | x | | | | |
| Antero Resources Corp | | | | | | | | | x | |
| Berry Petroleum Corporation | | | | | | x | | | x | |
| Bonanza Creek Energy, Inc. | | | | | | x | | | x | |
| Brigham Minerals, Inc. | | | | | | x | | | | |
| California Resources Corporation | | | | | | x | | | | |
| Callon Petroleum Company | | | x | | | x | | | | |
| Carrizo Oil & Gas, Inc. | | | | | | | | | | |
| Centennial Resource Development, Inc. | | | x | | | | | | | |
| CNX Resources Corporation | | | | | | x | | | x | |
| Comstock Resources Inc. | | | | | | x | | | x | |
| Contango Oil & Gas Co | | | | | | | | | x | |
| Denbury Resources Inc. | | | | | | x | | | | |
| Earthstone Energy, Inc. | | | | | | x | | | x | |
| Evolution Petroleum Corporation | | | | | | x | | | x | |
| Extraction Oil & Gas, Inc. | | | x | | | x | | | | |
| Falcon Minerals Corporation | | | | | | x | | | | |
| Goodrich Petroleum Corp | | | | | | | | | x | |
| Gulfport Energy Corporation | | | | | | x | | | | |
| HighPoint Resources Corporation | | | | | | x | | | | |
| Jagged Peak Energy Inc. | | | | | | | | | | |
| Kosmos Energy Ltd. | | | | | | | | | x | |
| Magnolia Oil & Gas Corporation | | | | | | x | | | x | |
| Matador Resources Company | | | x | | | x | | | x | |
| Montage Resources Corporation | | | x | | | x | | | | |
| Northern Oil & Gas, Inc. | | | | | | x | | | | |
| Oasis Petroleum, Inc. | | | x | | | x | | | | |
| Ovintiv Inc | | | | | | | | | x | |
| Panhandle Oil and Gas Inc. | | | | | | x | | | | |
| Parsley Energy, Inc. | | | x | | | | | | | |
| PDC Energy, Inc. | | | x | | | x | | | x | |
| Penn Virginia Corporation | | | | | | x | | | x | |
| PrimeEnergy Resources Corporation | | | | | | x | | | x | |
| QEP Resources, Inc. | | | x | | | x | | | | |
| Range Resources Corporation | | | x | | | | | | x | |
| Ring Energy, Inc. | | | | | | x | | | | |
| SM Energy Company | | | x | | | x | | | x | |
| Southwestern Energy Company | | | | | | x | | | x | |
| SRC Energy, Inc. | | | | | | | | | | |
| Talos Energy Inc. | | | | | | x | | | x | |
| Tellurian Inc. | | | | | | x | | | x | |
| W&T Offshore, Inc. | | | | | | x | | | x | |
| Whiting Petroleum Corp. | | | x | | | x | | | x | |
| WPX Energy, Inc. | | | x | | | | | | | |
| | | | Stock awards | | | Stock options | | | Performance units | | |||||||||||||||||||||||||||
| Name | | | Shares acquired on vesting | | | Value realized on vesting(1) | | | Shares acquired on exercise | | | Value realized on exercise | | | Shares acquired on vesting(2) | | | Value realized on vesting(1) | | ||||||||||||||||||
| Jason Pigott | | | | | 33,488 | | | | | $ | 1,627,314 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | |
| Bryan Lemmerman | | | | | 18,735 | | | | | $ | 1,793,314 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | |
| Karen Chandler | | | | | 15,797 | | | | | $ | 535,725 | | | | | | — | | | | | $ | — | | | | | | 818 | | | | | $ | 31,027 | | |
| Mark Denny | | | | | 5,563 | | | | | $ | 189,902 | | | | | | — | | | | | $ | — | | | | | | 506 | | | | | $ | 19,193 | | |
| Name | | | Termination without cause/for good reason outside of a change in control | | | Change in control (must be coupled with Termination without cause/for good reason)(1) | | | Change in control only | | | Termination for cause | | | Termination due to death or disability | | |||||||||||||||
| Jason Pigott | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Salary | | | | $ | — | | | | | $ | 2,160,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
| Bonus | | | | | — | | | | | | 2,376,000 | | | | | | — | | | | | | — | | | | | | — | | |
| Accelerated Equity RS(2) | | | | | — | | | | | | 6,136,868 | | | | | | 6,136,868 | | | | | | — | | | | | | 6,136,868 | | |
| Accelerated Equity PS(2)(3) | | | | | — | | | | | | 11,100,299 | | | | | | 11,100,299 | | | | | | — | | | | | | 11,100,299 | | |
| Accelerated Equity OUT(2)(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Continued Medical | | | | | — | | | | | | 34,339 | | | | | | — | | | | | | — | | | | | | — | | |
| Total | | | | $ | — | | | | | $ | 21,807,506 | | | | | $ | 17,237,167 | | | | | $ | — | | | | | $ | 17,237,167 | | |
| Bryan Lemmerman | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Salary | | | | $ | — | | | | | $ | 880,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
| Bonus | | | | | — | | | | | | 792,000 | | | | | | — | | | | | | — | | | | | | — | | |
| Accelerated Equity RS(2) | | | | | — | | | | | | 3,595,173 | | | | | | 3,595,173 | | | | | | — | | | | | | 3,595,173 | | |
| Accelerated Equity PS(2)(3) | | | | | — | | | | | | 1,804,862 | | | | | | 1,804,862 | | | | | | — | | | | | | 1,804,862 | | |
| Continued Medical | | | | | — | | | | | | 23,096 | | | | | | — | | | | | | — | | | | | | — | | |
| Total | | | | $ | — | | | | | $ | 7,095,131 | | | | | $ | 5,400,035 | | | | | $ | — | | | | | $ | 5,400,035 | | |
| Karen Chandler | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Salary | | | | $ | — | | | | | $ | 940,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
| Bonus | | | | | — | | | | | | 846,000 | | | | | | — | | | | | | — | | | | | | — | | |
| Accelerated Equity RS(2) | | | | | — | | | | | | 3,230,905 | | | | | | 3,230,905 | | | | | | — | | | | | | 3,230,905 | | |
| Accelerated Equity PS(2)(3) | | | | | — | | | | | | 6,145,286 | | | | | | 6,145,286 | | | | | | — | | | | | | 6,145,286 | | |
| Accelerated Equity Options(2) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Continued Medical | | | | | — | | | | | | 12,013 | | | | | | — | | | | | | — | | | | | | — | | |
| Total | | | | $ | — | | | | | $ | 11,174,204 | | | | | $ | 9,376,191 | | | | | $ | — | | | | | $ | 9,376,191 | | |
| Mark Denny | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Salary | | | | $ | — | | | | | $ | 700,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
| Bonus | | | | | — | | | | | | 595,000 | | | | | | — | | | | | | — | | | | | | — | | |
| Accelerated Equity RS(2) | | | | | — | | | | | | 1,242,166 | | | | | | 1,242,166 | | | | | | — | | | | | | 1,242,166 | | |
| Accelerated Equity PS(2)(3) | | | | | — | | | | | | 2,289,750 | | | | | | 2,289,750 | | | | | | — | | | | | | 2,289,750 | | |
| Accelerated Equity Options(2) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Continued Medical | | ��� | | | — | | | | | | 34,339 | | | | | | — | | | | | | — | | | | | | — | | |
| Total | | | | $ | — | | | | | $ | 4,861,255 | | | | | $ | 3,531,916 | | | | | $ | — | | | | | $ | 3,531,916 | | |
| Plan category | | | Number of securities to be issued upon exercise of outstanding options or performance units(1)(2) | | | Weighted-average exercise price of outstanding options | | | Number of securities remaining available for future issuance under equity compensation plans (excluding outstanding options and performance units)(1)(3) | | |||||||||
| Equity compensation plan approved by security holders(3) | | | | | 133,988 | | | | | $ | 275.88 | | | | | | 1,355,870 | | |
| Equity compensation plan not approved by security holders | | | | | — | | | | | $ | — | | | | | | — | | |
| Total | | | | | 133,988 | | | | | | | | | | | | 1,355,870 | | |
| Name of person or identity of group | | | Number of shares | | | Percentage of class(1) | | ||||||
| BlackRock, Inc.(2) | | | | | 2,161,866 | | | | | | 12.5% | | |
| State Street Corporation(3) | | | | | 1,717,848 | | | | | | 9.9% | | |
| EnCap Energy Capital Fund IX, L.P.(4) | | | | | 1,386,162 | | | | | | 8.0% | | |
| The Vanguard Group(5) | | | | | 1,084,967 | | | | | | 6.3% | | |
| William E. Albrecht(6) | | | | | 13,138 | | | | | | * | | |
| Dr. Craig M. Jarchow(6) | | | | | 9,431 | | | | | | * | | |
| Pamela S. Pierce | | | | | 25,186 | | | | | | * | | |
| Jason Pigott | | | | | 130,620 | | | | | | * | | |
| Frances Powell Hawes(6) | | | | | 14,604 | | | | | | * | | |
| Edmund P. Segner, III(6) | | | | | 17,452 | | | | | | * | | |
| Jarvis V. Hollingsworth | | | | | 3,219 | | | | | | * | | |
| Lisa M. Lambert | | | | | 4,907 | | | | | | * | | |
| Lori A. Lancaster(6) | | | | | 2,716 | | | | | | * | | |
| Bryan Lemmerman | | | | | 79,848 | | | | | | * | | |
| Karen Chandler(7) | | | | | 45,014 | | | | | | * | | |
| Mark Denny(7) | | | | | 28,253 | | | | | | * | | |
| Directors and executive officers as a group (12 persons) | | | | | 374,388 | | | | | | 2.2% | | |
| | | Prior to Conversion of Preferred Stock | | | After Conversion of Preferred Stock | | ||||||
| | | Number of Shares of Common Stock Held | | | Common Stock Ownership Interest and Voting Power | | | Number of Shares of Common Stock Held | | | Common Stock Ownership Interest and Voting Power | |
Current holders of Common stock (excluding affiliates and holders of 5% or more of Common Stock) | | | | | | | | | | ||||
Current holders of Common stock (including affiliates and holders of 5% or more of Common Stock) | | | | | | | | | | | | | |
Holders of Preferred Stock | | | | | | | | | | | | | |
Total | | | | | | | | | | | | | |
| |
| | Percentage of class(1) | | ||||||||||
BlackRock, Inc.(2) | | | | | 2,677,720 | | | | | | | ||
State Street Corporation(3) | | | | 2,443,942 | | | | | | % | | | |
The | | | | | 1,152,140 | | | | | | | | |
William E. Albrecht | | | | | 17,276 | | | | | | * | | |
Karen Chandler | | | | | — | | | | | | — | | |
Mark Denny(6) | | | | | 20,336 | | | | | | * | | |
John Driver(5) | | | | | 2,889 | | | | | | * | | |
Frances Powell Hawes(5) | | | | | 17,967 | | | | | | * | | |
Jarvis V. Hollingsworth(5) | | | | | 6,582 | | | | | | * | | |
Dr. Craig M. Jarchow(5) | | | | | 12,794 | | | | | | * | | |
Dr. Shihab A. Kuran(5) | | | | | 2,889 | | | | | | * | | |
Lisa M. Lambert | | | | | 8,270 | | | | | | * | | |
Lori A. Lancaster(5) | | | | | 6,079 | | | | | | * | | |
Bryan Lemmerman | | | | | 66,718 | | | | | | * | | |
Jason Pigott | | | | | 121,775 | | | | | | * | | |
Edmund P. Segner, III(5) | | | | | 19,660 | | | | | | * | | |
Directors and executive officers as a group (13 persons) | | | | | 303,235 | | | | | | % | | |