Diversified Energy (DEC) CLO awarded new RSUs with vesting through 2029

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

SULLIVAN BENJAMIN reported acquisition or exercise transactions in this Form 4 filing.

Diversified Energy Co reported that Senior EVP and Chief Legal Officer Benjamin Sullivan received several grants of restricted stock units (RSUs) on June 30, 2026. The awards cover 4,071, 1,365, 1,775 and 1,044 RSUs, each convertible into common stock on a one-for-one basis.

Some RSUs accrued as dividend equivalent rights tied to a $0.29 per-share dividend. The RSUs vest over time, with portions scheduled in equal installments on March 19, 2027, 2028 and 2029, and others vesting on January 1, 2027, January 1, 2028, and in three installments on January 5, 2027, 2028 and 2029, subject to Sullivan’s continued employment.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider SULLIVAN BENJAMIN

Role Sr EVP, Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	1,044	$0.00	--
Grant/Award	Restricted Stock Units	1,775	$0.00	--
Grant/Award	Restricted Stock Units	1,365	$0.00	--
Grant/Award	Restricted Stock Units	4,071	$0.00	--

Holdings After Transaction: Restricted Stock Units — 53,427 shares (Direct, null)

Footnotes (1)

Restricted stock units ("RSUs") convert into shares of the Issuer's common stock on a one-for-one basis. Represents additional RSUs that accrued as dividend equivalent rights in connection with the Issuer's dividend payment of $0.29 per share. These RSUs vest in three equal installments on each March 19, 2027, 2028 and 2029, subject to the Reporting Person's continued employment. These RSUs vest on January 1, 2027, subject to the Reporting Person's continued employment. These RSUs vest on January 1, 2028, subject to the Reporting Person's continued employment. These RSUs vest in three equal installments on each January 5, 2027, 2028 and 2029, subject to the Reporting Person's continued employment.

Key Figures

RSU grant 1: 4,071 RSUs RSU grant 2: 1,365 RSUs RSU grant 3: 1,775 RSUs +4 more

7 metrics

RSU grant 1 4,071 RSUs Award to Benjamin Sullivan on June 30, 2026

RSU grant 2 1,365 RSUs Award to Benjamin Sullivan on June 30, 2026

RSU grant 3 1,775 RSUs Award to Benjamin Sullivan on June 30, 2026

RSU grant 4 1,044 RSUs Award to Benjamin Sullivan on June 30, 2026

Dividend per share $0.29 per share Basis for dividend-equivalent RSUs

RSUs following transaction (series 1) 208,286 RSUs Holdings in one RSU award after June 30, 2026 transaction

RSUs following transaction (series 2) 69,874 RSUs Holdings in another RSU award after June 30, 2026 transaction

Key Terms

Restricted Stock Units, dividend equivalent rights, continued employment, Grant, award, or other acquisition, +1 more

5 terms

Restricted Stock Units financial

"security_title: 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.

dividend equivalent rights financial

"Represents additional RSUs that accrued as dividend equivalent rights"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

continued employment financial

"subject to the Reporting Person's continued employment"

Continued employment means that an individual remains in their current job without interruption. For investors, it signals stability and ongoing work that can affect company performance and future prospects. Like a steady heartbeat for a business, sustained employment helps ensure consistent operations and financial health.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

one-for-one basis financial

"RSUs convert into shares of common stock on a one-for-one basis"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/01/2026 - 06:21 PM Accepted by SEC EDGAR 07/01/2026 - 06:20 PM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SULLIVAN BENJAMIN

(Last)

(First)

(Middle)

C/O DIVERSIFIED ENERGY COMPANY

1600 CORPORATE DRIVE

(Street)

BIRMINGHAM

ALABAMA

35242

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Diversified Energy Co [ DEC ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Sr EVP, Chief Legal Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

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

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

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

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)

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)
Restricted Stock Units	$0⁽¹⁾	06/30/2026	06/30/2026	A		1,044⁽²⁾		⁽³⁾	⁽³⁾	Common Stock	1,044	$0	53,427	D
Restricted Stock Units	$0⁽¹⁾	06/30/2026	06/30/2026	A		1,775⁽²⁾		⁽⁴⁾	⁽⁴⁾	Common Stock	1,775	$0	90,823	D
Restricted Stock Units	$0⁽¹⁾	06/30/2026	06/30/2026	A		1,365⁽²⁾		⁽⁵⁾	⁽⁵⁾	Common Stock	1,365	$0	69,874	D
Restricted Stock Units	$0⁽¹⁾	06/30/2026	06/30/2026	A		4,071⁽²⁾		⁽⁶⁾	⁽⁶⁾	Common Stock	4,071	$0	208,286	D

Explanation of Responses:

1. Restricted stock units ("RSUs") convert into shares of the Issuer's common stock on a one-for-one basis.

2. Represents additional RSUs that accrued as dividend equivalent rights in connection with the Issuer's dividend payment of $0.29 per share.

3. These RSUs vest in three equal installments on each March 19, 2027, 2028 and 2029, subject to the Reporting Person's continued employment.

4. These RSUs vest on January 1, 2027, subject to the Reporting Person's continued employment.

5. These RSUs vest on January 1, 2028, subject to the Reporting Person's continued employment.

6. These RSUs vest in three equal installments on each January 5, 2027, 2028 and 2029, subject to the Reporting Person's continued employment.

Remarks:

	/s/ Benjamin Sullivan	07/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Diversified Energy Co (DEC) report for Benjamin Sullivan?

Diversified Energy reported that Senior EVP and Chief Legal Officer Benjamin Sullivan received multiple grants of restricted stock units on June 30, 2026. These RSUs are compensation-related awards rather than open-market share purchases or sales.

How many restricted stock units were granted to the DEC executive in this Form 4?

The Form 4 shows RSU grants of 4,071, 1,365, 1,775 and 1,044 units to Benjamin Sullivan. Each RSU converts into one share of Diversified Energy’s common stock under the terms described in the filing and footnotes.

Do the new DEC RSUs for Benjamin Sullivan have a purchase price?

No, the reported restricted stock unit awards list a transaction price per share of $0.0000. This confirms the RSUs are granted as equity compensation, not bought in the market, consistent with Form 4 code A for an award acquisition.

When do Benjamin Sullivan’s DEC restricted stock units vest?

The RSUs vest on several dates: in three equal installments on March 19, 2027, 2028 and 2029, on January 1, 2027, on January 1, 2028, and in three installments on January 5, 2027, 2028 and 2029, all contingent on continued employment.

What are dividend equivalent rights mentioned in the DEC Form 4 footnotes?

Some RSUs represent additional units that accrued as dividend equivalent rights tied to a $0.29 per-share dividend. Instead of paying cash, Diversified Energy credited extra RSUs so the executive’s award reflects the company’s dividend distributions.