Permian Resources Corp — Director's Dealing 2017

Mar 22, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Centennial Resource Development, Inc. (CDEV)
CIK: 0001658566
Period of Report: 2017-03-13

Reporting Person: Papa Mark G (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-13	Class A Common Stock	X	3333	$11.50	Acquired	46031	Direct
2017-03-13	Class A Common Stock	J	2079	$18.44	Disposed	43952	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-13	Common Stock Warrants (right to buy)	$11.50	X	3333	Disposed		Class A Common Stock (3333)	Direct

Footnotes

F1: On March 13, 2017, the reporting person exercised warrants to purchase 3,333 shares of the Issuer's Class A Common Stock for $11.50 per share. The reporting person paid the exercise price on a cashless basis, resulting in the Issuer's withholding of 2,079 shares of Class A Common stock to pay the exercise price and issuing to the reporting person the remaining 1,254 shares.

F2: The warrants are currently exercisable and will expire five years after the Initial Business Combination, which occurred on October 11, 2016, or earlier upon redemption or liquidation.

F3: The reporting person acquired the warrants as part of his previously reported acquisition of 10,000 units of Silver Run Acquisition Corporation (the "Units") in open-market transactions for an average price of $10.29 per Unit. Each Unit consisted of one share of the Issuer's Class A Common Stock and one-third of one warrant.