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: Dick Teresa L. (CFO, Sr. VP)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-11	Restricted Stock Units	$	A	17143	Acquired		Common Stock (17143)	Direct
2012-10-11	Stock Option (right to buy)	$17.50	A	50000	Acquired	2016-09-01	Common Stock (50000)	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: 4,286 restricted stock units will be vested on the closing date of the initial public offering of the Issuer (the "IPO"). 12,857 restricted stock units will vest in three remaining approximately equal annual installments beginning on September 1, 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 12,500 shares of Common Stock will be vested on the closing date of the IPO. Options to purchase 37,500 shares of Common Stock will vest in three remaining approximately equal annual installments beginning on September 1, 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.