M. Jason Pigott - Mar 8, 2024 Form 4 Insider Report for Vital Energy, Inc. (VTLE)

Signature
/s/ Mark D. Denny, as attorney-in-fact for M. Jason Pigott
Stock symbol
VTLE
Transactions as of
Mar 8, 2024
Transactions value $
-$3,996,242
Form type
4
Date filed
3/11/2024, 05:05 PM
Previous filing
Feb 23, 2024
Next filing
Aug 12, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VTLE Common Stock Options Exercise $0 +71.9K +41.27% $0.00 246K Mar 8, 2024 Direct F1
transaction VTLE Common Stock Disposed to Issuer -$3.62M -71.9K -29.21% $50.38 174K Mar 8, 2024 Direct F1
transaction VTLE Common Stock Tax liability -$373K -7.4K -4.24% $50.38 167K Mar 8, 2024 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 VTLE Performance Units Options Exercise $0 -49.3K -100% $0.00* 0 Mar 8, 2024 Common Stock 49.3K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These performance units are granted under the Issuer's Omnibus Equity Incentive Plan and were originally reported on a From 4 filed by the Issuer on March 9, 2021. The performance units became payable in cash based upon (i) the Issuer's total shareholder return measured against an industry peer group, (ii) on an absolute share return basis, (iii) earnings before interest, taxes, depreciation, amortization and exploration expense divided by three-year total debt reduction and (iv) growth in inventory, over a three-year performance period ending December 31, 2023. Based on the actual performance criteria satisfied, the performance unit multiplier was 145.83%.
F2 Represents shares of common stock withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person in connection with the vesting of a portion of restricted shares previously granted to the Reporting Person under the Issuer's Omnibus Equity Incentive Plan.