Lance Lauck - Jan 12, 2022 Form 4 Insider Report for PDC ENERGY, INC. (PDCE)

Signature
/s/ Nicole L. Martinet, by power of attorney
Stock symbol
PDCE
Transactions as of
Jan 12, 2022
Transactions value $
-$1,061,576
Form type
4
Date filed
1/14/2022, 10:42 AM
Previous filing
Nov 15, 2021
Next filing
Feb 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PDCE Common Stock Options Exercise +44.4K +27.09% 208K Jan 12, 2022 Direct F1
transaction PDCE Common Stock Tax liability -$1.06M -19.2K -9.23% $55.23 189K Jan 12, 2022 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PDCE Performance Share Rights Options Exercise -23.4K -100% 0 Jan 12, 2022 Common Stock 23.4K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each performance share unit/right represented a contingent right to receive 0-200% of that number in shares of PDC Energy, Inc. common stock upon achievement of specified metrics compared to certain peers, as described in the related grant agreement. Pursuant to the terms of the related grant agreement and the achievement of the predetermined objectives for the specified performance period, the insider earned 190% of the target award.
F2 Represents shares of common stock surrendered to issuer to cover tax withholding obligation of the reporting person upon settlement of performance shares/rights.