Diamondback Energy, Inc. — Director's Dealing 2012

Oct 15, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Diamondback Energy, Inc. (FANG)
CIK: 0001539838
Period of Report: 2012-10-11

Reporting Person: Pantermuehl Russell (VP Reservoir Engineering)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-11	Restricted Stock Units	$	A	34287	Acquired		Common Stock (34287)	Direct
2012-10-11	Stock Option (right to buy)	$17.50	A	100000	Acquired	2016-08-15	Common Stock (100000)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of common stock, par value $0.01 per share (the "Common Stock"), of Diamondback Energy, Inc. (the "Issuer")

F2: 8,572 restricted stock units will be vested on the closing date of the initial public offering of the Issuer (the "IPO"). 25,715 restricted stock units will vest in three remaining approximately equal annual installments beginning on August 15, 2013. All restricted stock units are subject to a lock-up agreement entered into by the reporting person in connection with the IPO.

F3: Options to purchase 25,000 shares of Common Stock will be vested on the closing date of the IPO. Options to purchase 75,000 shares of Common Stock will vest in three remaining approximately equal annual installments beginning on August 15, 2013. All Options are subject to the terms of the reporting person's employment agreement and a lock-up agreement entered into by the reporting person in connection with the IPO.