Cyrus D. Marter IV - Jan 21, 2022 Form 4 Insider Report for CIVITAS RESOURCES, INC. (CIVI)

Role: General Counsel & Secretary
Signature: By: Roberta L. Louis, attorney-in-fact For: Cyrus D. Marter IV
Stock symbol: CIVI
Transactions as of: Jan 21, 2022
Transactions value $: -$441,221
Form type: 4
Date filed: 1/24/2022, 04:34 PM
Previous filing: Nov 16, 2021
Next filing: Feb 25, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CIVI	Common Stock	Award	$0	+18.5K	+33.04%	$0.00	74.4K	Jan 21, 2022	Direct	F1
transaction	CIVI	Common Stock	Tax liability	-$441K	-8.22K	-11.05%	$53.67	66.1K	Jan 21, 2022	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	In May of 2019 the reporting person was granted a performance unit award with a performance period beginning on January 1, 2019 and ending on December 31, 2021, based on the Issuer's absolute and relative total shareholder return ("TSR") and its return on capital employed ("ROCE"), as further specified in the award agreement. The actual number of shares that may vest ranges from zero to 200% of the target number of shares. On January 21, 2022, the Compensation Committee determined that there was: (1) no payout with respect to the ROCE-based performance units, and (2) a 200% payout with respect to the TSR-based performance units.
F2	Represents shares withheld to satisfy tax withholding obligations upon vesting of performance stock units.

Content

In May of 2019 the reporting person was granted a performance unit award with a performance period beginning on January 1, 2019 and ending on December 31, 2021, based on the Issuer's absolute and relative total shareholder return ("TSR") and its return on capital employed ("ROCE"), as further specified in the award agreement. The actual number of shares that may vest ranges from zero to 200% of the target number of shares. On January 21, 2022, the Compensation Committee determined that there was: (1) no payout with respect to the ROCE-based performance units, and (2) a 200% payout with respect to the TSR-based performance units.

Represents shares withheld to satisfy tax withholding obligations upon vesting of performance stock units.