SEC FORM 4

SEC FORM 4 SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Owens Matthew R

(Last)

(First)

(Middle)

410 - 17TH STREET, SUITE 1400

(Street)

DENVER

80202

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
CIVITAS RESOURCES, INC. [ CIVI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/01/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/01/2021		A		21,079⁽¹⁾⁽²⁾	A	⁽¹⁾⁽²⁾	21,079	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Stock Unit	⁽³⁾	11/01/2021		A		63,239		⁽⁴⁾	⁽⁴⁾	Common Stock	63,239	⁽⁴⁾	63,239	D

Explanation of Responses:

1. Represents restricted stock units ("RSUs") that settle in shares of Civitas Resources, Inc. (the "Issuer") common stock received in exchange for RSUs that settled in shares of Extraction Oil & Gas, Inc. ("Extraction") common stock in connection with the consummation of the transaction (the "Merger") contemplated in that certain agreement and plan of merger (the "Merger Agreement") by and between Bonanza Creek Energy, Inc., Raptor Eagle Merger Sub, Inc. and Extraction, dated as of May 9, 2021. Pursuant to the Merger Agreement, the outstanding Extraction RSUs immediately prior to the effective time of the Merger were assumed by the Issuer and converted into a number of RSUs with respect to shares of Issuer common stock equal to the product of the outstanding Extraction RSUs multiplied by 1.1711 and rounded to the nearest number of whole shares. Each RSU represents a contingent right to receive one share of Issuer common stock.

2. (continued from footnote 1) The RSUs vest ratably over three years on January 20, 2022, January 20, 2023 and January 20, 2024, subject to continued service through each vesting date, and will be settled in shares of Issuer common stock.

3. Each performance unit ("PSU") represents a contingent right to receive one share of Issuer common stock.

4. Represents PSUs that settle in shares of Issuer common stock received in exchange for 54,000 PSUs that settled in shares of Extraction common stock in connection with consummation of the Merger. The PSUs will vest upon the achievement by the Issuer of certain goals pertaining to absolute total stockholder return, subject to continued service through January 20, 2024.

Remarks:

	By: Jennifer Stoldt, attorney-in-fact for Matthew R. Owens	11/02/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

SEC Form 4: Owens Matthew R was granted 21,079 shares