Diamondback Energy, Inc. filed a Current Report on Form 8-K dated September 29, 2026, announcing an amendment to its Stockholders Agreement with SGF FANG Holdings, LP. The amendment modifies the rights of the Stephens Majority, a group of stockholders associated with Stephens Inc., regarding board representation.
Under the terms of the amendment, the Stephens Majority is entitled to designate two directors to Diamondback’s board of directors only if the Stephens Stockholders beneficially own between 10% and less than 25% of the Outstanding Shares. If ownership falls below 10%, the Stephens Majority loses the right to designate any directors.
The filing also reports the resignation of two directors. Darin Holderness resigned from the Board on September 29, 2026, and Lance Robertson resigned on September 30, 2026. The resignations were the result of a Board Stepdown and were not due to disagreements with the Company regarding operations, policies, or practices.
The amendment is attached as Exhibit 10.1 to the filing.
