PDMR Shareholdings

Rhea-AI Summary

Diversified Energy Company (NYSE: DEC) announced on March 20, 2026 that certain Performance Stock Units (PSUs) and Restricted Stock Units (RSUs) held by senior management vested and were settled by transfer of common stock from the Employee Benefit Trust (EBT).

The transfers (net of tax withholdings) changed PDMR holdings: Rusty Hutson, Jr received 46,548 shares (holding 1,322,689 shares, 1.82%); Bradley Gray received 35,659 shares (holding 227,790 shares, 0.31%); Benjamin Sullivan received 26,518 shares (holding 88,837 shares, 0.12%).

Argus Mar 23 session

-3.46% close to close Open Argus

Details

News Market Reaction – DEC

In the Mar 23 session, DEC declined 3.46%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details vesting of PSUs and RSUs for senior PDMRs, increasing direct holdings such...

Analysis

This announcement details vesting of PSUs and RSUs for senior PDMRs, increasing direct holdings such as Rusty Hutson Jr’s 1,322,689 shares and Bradley Gray’s 227,790 shares, funded from an employee benefit trust. It follows a series of recent buybacks and a 7,501,585-share secondary resale under an effective S-3ASR. Investors may track future equity awards, repurchases, and resale activity to gauge how insider compensation and capital actions influence overall share supply.

Key Figures

Hutson net award: 46,548 shares Hutson holding: 1,322,689 shares Hutson ownership %: 1.82% +5 more

Hutson net award

46,548 shares

Net PSU award vested to CEO Rusty Hutson Jr

Hutson holding

1,322,689 shares

Common shares held post-award; 1.82% of issued capital

Hutson ownership %

1.82%

Share of issued share capital after vesting

Gray net award

35,659 shares

Net PSU/RSU award vested to President & CFO Bradley Gray

Gray holding

227,790 shares

Common shares held post-award; 0.31% of issued capital

Gray ownership %

0.31%

Share of issued share capital after vesting

Sullivan net award

26,518 shares

Net PSU/RSU award vested to Benjamin Sullivan

Sullivan holding

88,837 shares

Common shares held post-award; 0.12% of issued capital

Historical Context

5 past events · Latest: Mar 19

5 events

1. Mar 19

   Share repurchase

   24h Move

   +8.2%

   Repurchase of 300,000 shares at $14.20 and share count reduction.

2. Mar 12

   Dividend declaration

   24h Move

   -0.4%

   Announcement of $0.29 Q3 2025 dividend and FX-based GBP rate.

3. Mar 11

   Share repurchase

   24h Move

   +1.8%

   Buyback of 3,750,000 shares at $14.311 linked to EIG exit.

4. Mar 09

   Secondary offering pricing

   24h Move

   -3.3%

   Pricing of 7,501,585-share secondary and concurrent repurchase.

5. Mar 09

   Secondary offering launch

   24h Move

   -3.3%

   Announcement of proposed 7,501,585-share secondary by EIG funds.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

performance stock units, restricted stock units, persons discharging material responsibility, pdmrs, +1 more

5 terms

performance stock units financial

"announces the vesting of certain Performance Stock Units (“PSU's”) and Restricted"

Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.

restricted stock units financial

"vesting of certain Performance Stock Units (“PSU's”) and Restricted Stock Units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

persons discharging material responsibility regulatory

"previously awarded to Persons Discharging Material Responsibility ("PDMRs"), resulting"

Individuals within a company who hold senior roles or key responsibilities that give them regular access to non-public, price-sensitive information — for example, directors, senior managers, or others who oversee major business areas. Investors watch these people because their trades and disclosures can reveal or affect company value; think of them like a ship’s officers who know the route before passengers do — their actions and access to secret information can move the market and are subject to special rules.

pdmrs regulatory

"previously awarded to Persons Discharging Material Responsibility ("PDMRs"), resulting"

PDMRs are senior executives, directors or other people with significant decision-making authority whose buying or selling of a company’s shares must be reported under market rules. Investors watch PDMR disclosures because these trades can reveal how confident those running the company are in its prospects and because reporting helps prevent unfair advantage; think of it as noting the captain’s moves to gauge confidence in a ship’s course.

employee benefit trust financial

"the Company will transfer Common Stock ... from its Employee Benefit Trust (the “EBT”)"

An employee benefit trust is a pool of shares or cash held by an independent trustee to deliver pay, bonuses or long-term incentives to a company’s staff. Think of it like a communal piggy bank managed by a neutral guardian that releases rewards to employees over time. Investors watch these trusts because they change how many shares are available, can affect voting control, and signal whether employee pay aligns with long-term company performance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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March 20, 2026

Diversified Energy Company
("Diversified," or the "Company")

PDMR Shareholdings

Diversified Energy Company (NYSE: DEC, LSE: DEC), announces the vesting of certain Performance Stock Units (“PSU's”) and Restricted Stock Units ("RSU's") previously awarded to Persons Discharging Material Responsibility ("PDMRs"), resulting in a change to previously disclosed PDMR holdings of shares of common stock in the Company ("Common Stock").

Members of the Company's senior management vested in previously awarded PSUs and RSUs included:

• Rusty Hutson, Jr, Co-Founder and Chief Executive Officer
• Bradley Gray, President and Chief Financial Officer
• Benjamin Sullivan, Senior Executive Vice President, Chief Legal & Risk Officer and Corporate Secretary
  
  

Mr. Hutson's listed awards were solely PSUs, while the awards to Mr. Gray, and Mr. Sullivan included a mix of PSUs and RSUs. The Company provides additional information about its long-term incentive plan within its Annual Report on Form 10-K for the year ended December 31, 2025 available on its website.

To settle the awards, the Company will transfer Common Stock (net of customary withholdings, including taxes) from its Employee Benefit Trust (the “EBT”) as set forth in the table below:

	Net Award	Shares Held Post-Award	% of Issued Share Capital
Rusty Hutson, Jr	46,548	1,322,689	1.82%
Bradley Gray	35,659	227,790	0.31%
Benjamin Sullivan	26,518	88,837	0.12%

For further information, please contact:

Diversified Energy Company	+1 973 856 2757
Doug Kris	dkris@dgoc.com
www.div.energy
FTI Consulting	dec@fticonsulting.com
U.S. & UK Financial Public Relations

About Diversified Energy Company

Diversified is a leading publicly traded energy company focused on acquiring, operating, and optimizing cash generating energy assets. Through our differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Rusty Hutson, Jr
2	Reason for the notification
a)	Position/status	Co-Founder and Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company
b)	LEI	529900XTQ3OKXR6P0H74
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Performance stock units that convert into Common Stock
	Identification code	GB00BQHP5P93
b)	Nature of the transaction	Vesting of performance stock units under the Company's equity incentive plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		$Nil	46,548
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	March 16, 2026
f)	Place of the transaction	Outside a trading venue (XOFF)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bradley Gray
2	Reason for the notification
a)	Position/status	President and Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company
b)	LEI	529900XTQ3OKXR6P0H74
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Performance stock units and restricted stock units that convert into Common Stock
	Identification code	GB00BQHP5P93
b)	Nature of the transaction	Vesting of performance stock units and restricted stock units under the Company's equity incentive plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		$Nil	35,659
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	March 16, 2026
f)	Place of the transaction	Outside a trading venue (XOFF)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Benjamin Sullivan
2	Reason for the notification
a)	Position/status	Senior Executive Vice President, Chief Legal & Risk Officer and Corporate Secretary
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company
b)	LEI	529900XTQ3OKXR6P0H74
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Performance stock units and restricted stock units that convert into Common Stock
	Identification code	GB00BQHP5P93
b)	Nature of the transaction	Vesting of performance stock units and restricted stock units under the Company's equity incentive plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		$Nil	26,518
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	March 16,2026
f)	Place of the transaction	Outside a trading venue (XOFF)

FAQ

What did Diversified Energy (DEC) announce about PDMR shareholdings on March 20, 2026?

The company reported that certain PSUs and RSUs vested for senior management and were settled from the Employee Benefit Trust. According to Diversified Energy, transfers were net of customary withholdings and updated holdings for Rusty Hutson, Bradley Gray, and Benjamin Sullivan.

How many shares did CEO Rusty Hutson, Jr receive in the March 20, 2026 DEC vesting?

Rusty Hutson, Jr received 46,548 shares upon vesting of PSUs. According to Diversified Energy, his total post-award holding is 1,322,689 shares, representing 1.82% of issued share capital after the transfer.

Does the March 20, 2026 DEC PSU/RSU settlement dilute existing shareholders?

The company settled awards by transferring shares from its Employee Benefit Trust, not by issuing new shares. According to Diversified Energy, transfers were from the EBT, so the announcement does not state issuance-driven dilution to outstanding shareholders.

Where can investors find details of Diversified Energy's long-term incentive plan referenced in the March 20, 2026 notice?

Investors can review the company's Annual Report on Form 10-K for the year ended December 31, 2025 for long-term incentive details. According to Diversified Energy, the 10-K on the company's website provides plan terms and award treatment information.

What are the post-award holdings for DEC CFO Bradley Gray and CLO Benjamin Sullivan after the March 20, 2026 vesting?

Bradley Gray holds 227,790 shares (0.31% of issued share capital) after receiving 35,659 shares; Benjamin Sullivan holds 88,837 shares (0.12%) after receiving 26,518 shares. According to Diversified Energy, these figures are net of customary withholdings.