Nicole L. Martinet - Jan 11, 2023 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 11, 2023
Transactions value $
-$1,643,518
Form type
4
Date filed
1/13/2023, 07:54 AM
Previous filing
Nov 9, 2022
Next filing
Feb 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PDCE Common Stock Options Exercise +62.6K +141.96% 107K Jan 11, 2023 Direct F1
transaction PDCE Common Stock Tax liability -$1.64M -25.9K -24.31% $63.40 80.7K Jan 11, 2023 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 -25K -100% 0 Jan 11, 2023 Common Stock 25K 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 0-250% 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 250% 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.