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Filing Details

Accession Number:: 0001011438-24-000283
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-03-08 16:45:32
Reporting Period:: 2018-05-10

Accepted Time:: 2024-03-08 16:45:32
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1602065	Viper Energy Inc.	VNOM	Crude Petroleum & Natural Gas (1311)	DE

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1539838	Diamondback Energy, Inc.	500 West Texas Suite 100 Midland TX 79701		No	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Units Representing Limited Partner Interests	Disposition	2018-05-10	73,150,000	$0.00	0	No	4	D	Direct
Common Units Representing Limited Partner Interests	Acquisiton	2018-05-10	731,500	$0.00	731,500	No	4	M	Direct
Common Units Representing Limited Partner Interests	Acquisiton	2023-10-31	7,215,007	$27.72	7,946,507	No	4	M	Direct
Class A Common Stock	Acquisiton	2024-03-08	5,278,493	$0.00	13,225,000	No	4	M	Direct
Class A Common Stock	Disposition	2024-03-08	13,225,000	$34.13	0	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	D	Direct
No	4	M	Direct
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Units	Class B Units	Acquisiton	2018-05-10	73,150,000	$0.00	73,150,000	$0.00
Common Units	Operating Company Units	Acquisiton	2018-05-10	73,150,000	$0.00	73,150,000	$0.00
Common Units	Class B Units	Disposition	2018-05-10	731,500	$0.00	731,500	$0.00
Common Units	Operating Company Units	Disposition	2018-05-10	731,500	$0.00	731,500	$0.00
Common Units	Class B Units	Acquisiton	2019-10-01	10,224,918	$0.00	82,643,418	$0.00
Common Units	Operating Company Units	Acquisiton	2019-10-01	10,224,918	$0.00	82,643,418	$0.00
Common Units	Class B Units	Acquisiton	2019-10-01	8,066,528	$0.00	8,066,528	$0.00
Common Units	Operating Company Units	Acquisiton	2019-10-01	8,066,528	$0.00	73,150,000	$0.00
Common Units	Put Option (obligation to buy)	Disposition	2023-09-04	7,215,007	$0.00	7,215,007	$27.72
Common Units	Put Option (obligation to buy)	Disposition	2023-10-31	7,215,007	$0.00	7,215,007	$27.72
Class A Common Stock	Class B Common Stock	Disposition	2024-03-08	5,278,493	$0.00	5,278,493	$0.00
Class A Common Stock	Operating Company Units	Disposition	2024-03-08	5,278,493	$0.00	5,278,493	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
73,150,000			No	4	A	Direct
73,150,000			No	4	A	Direct
72,418,500			No	4	M	Direct
72,418,500			No	4	M	Direct
82,643,418			No	4	A	Direct
82,643,418			No	4	A	Direct
8,066,528			No	4	A	Indirect
8,066,528			No	4	A	Indirect
7,215,007	2023-09-04	2023-11-01	No	4	D	Direct
0	2023-09-04	2023-11-01	No	4	M	Direct
77,364,925			No	4	M	Direct
77,364,925			No	4	M	Direct

Footnotes

Effective on May 10, 2018, Diamondback Energy, Inc.(the "Reporting Person") delivered and assigned to Viper Energy Partners LP (a predecessor of Viper Energy, Inc., collectively, the "Issuer"), a subsidiary that is primarily controlled by the Reporting Person, 73,150,000 common units representing limited partnership interests (the "Common Units") that the Reporting Person owned in exchange for (i) 73,150,000 of the Issuer's newly-issued Class B units representing limited partnership units (the "Class B Units") and (ii) 73,150,000 newly-issued units of the Operating Company ("OpCo Units") of Viper Energy Partners LLC, as defined below (the "Recapitalization").
Following the Recapitalization, each Class B Unit and each OpCo Unit were together convertible and exchangeable into one Common Unit of Viper Energy Partners LP. Following the Conversion, as defined below, one share of Class B common stock, par value $0.000001 per share (the "Class B Common Stock") and each OpCo Unit were together convertible and exchangeable into one share of Class A common stock, par value $0.000001 per share (the "Class A Common Stock") of the Issuer.
On May 10, 2018, the Reporting Person converted and exchanged 731,500 Class B Units and Operating Company Units for an equal number of Common Units.
On September 4, 2023, the Reporting Person granted the Issuer a right to sell up to 7,215,007 Common Units to the Reporting Person at a fixed price of $27.72, which the Issuer was permitted to exercise until a certain acquisition closed. The Issuer exercised its right to sell Common Units to the Reporting Person on October 31, 2023.
On March 8, 2024, the Reporting Person converted and exchanged 5,278,493 Class B Shares and OpCo Units in connection with the Reporting Person's registered offering of Class A Common Stock, which included 11,500,000 shares of Class A Common Stock sold by the Reporting Person to the underwriters in the firm offering and shares of Class A Common Stock subject to the underwriters' option to purchase 1,725,000 additional shares of Class A Common Stock, which option was exercised in full by the underwriters, and the offering of both firm and optional shares closed on March 8, 2024.
On November 13, 2023, the Issuer converted its form to that of a corporation (the "Conversion"), and each Common Unit became one share of Class A Common Stock, each Class B Common Unit became one share Class B Common Stock, and each unit of the Operating Company was now exchangeable, together with a share of Class B Common Stock into one share of Class A Common Stock. The Conversion was a change in form of the Issuer without any change in the pecuniary interest of the Reporting Person.
On October 1, 2019, Viper Energy Partners LP completed the acquisition of certain mineral and royalty interests from subsidiaries of the Reporting Person in exchange for 10,244,918 OpCo Units and Class B Units newly issued to the Reporting Person, 8,066,528 OpCo Units and Class B Units newly issued to a wholly owned subsidiary of the Reporting Person and $190.2 million in cash.
Held by Diamondback E&P LLC, a wholly owned subsidiary of the Reporting Person.