Permian Resources Corp — Director's Dealing 2020

Apr 7, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Centennial Resource Development, Inc. (CDEV)
CIK: 0001658566
Period of Report: 2020-04-02

Reporting Person: Smith Sean R. (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-04-02	Class A Common Stock	C	46683	—	Acquired	668964	Direct
2020-04-02	Class C Common Stock	J	46683	—	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-04-02	Centennial Resource Production, LLC Common Unit	$0.0	C	46683	Disposed		Class A Common Stock (46683.0)	Direct

Footnotes

F1: On April 2, 2020, the Reporting Person, pursuant to the terms of the Fifth Amended and Restated Limited Liability Company Agreement of Centennial Resource Production, LLC, dated October 11, 2016, by and among Centennial Resource Development, Inc. and the other members thereto (the "CRP LLC Agreement"), exchanged 46,683 common units of Centennial Resource Production, LLC (together with a corresponding number of shares of Class C common stock) for 46,683 shares of Class A common stock of Centennial Resource Development, Inc. The Reporting Person received these common units and shares of Class C common stock on June 15, 2018 from a pro rata distribution in kind by Centennial Resource Development, LLC.

F2: Each share of Class C common stock has no economic rights but entitles its holder to one vote on all matters to be voted on by stockholders generally.

F3: Subject to the terms of the CRP LLC Agreement, the common units of Centennial Resource Production, LLC (together with a corresponding number of shares of Class C common stock) are exchangeable from time to time for Class A common stock at an exchange ratio of one share of Class A common stock for each common unit of Centennial Resource Production, LLC (and a corresponding share of Class C common stock) exchanged.