Diamondback Energy, Inc. — Director's Dealing 2014

Mar 12, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Diamondback Energy, Inc. (FANG)
CIK: 0001539838
Period of Report: 2014-03-10

Reporting Person: Pantermuehl Russell (VP Reservoir Engineering)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-10	Common Stock	M	5000	$17.50	Acquired	7000	Direct
2014-03-10	Common Stock	S	5000	$62.9412	Disposed	2000	Direct
2014-03-10	Common Stock	M	2925	$0.00	Acquired	4925	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-10	Stock Option (right to buy)	$17.50	M	5000	Disposed	2016-08-15	Common Stock (5000)	Direct
2014-03-10	Restricted Stock Units	$0.00	M	2925	Disposed		Common Stock (2925)	Direct

Footnotes

F1: All of these options to purchase 5,000 shares of common stock of the issuer were vested as of August 15, 2013. Of the remaining options, options to purchase 20,000 shares of common stock are vested and options to purchase 50,000 shares of common stock will vest in two equal annual installments beginning on August 15, 2014.

F2: 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") and was granted under the Issuer's 2012 Equity Incentive Plan.

F3: As of March 10, 2014, 2,925 restricted stock units granted under the Issuer's 2012 Equity Incentive Plan were vested and settled.

F4: Of the remaining 22,994 restricted stock units, 17,144 restricted stock units will vest in two equal annual installments beginning on August 15, 2014, and 5,850 restricted stock units will vest in two equal annual installments beginning on January 2, 2015.