Matador Resources Insider Purchase: Foran Acquires 2,000 MTDR Shares

Rhea-AI Filing Summary

Joseph Wm. Foran, Chairman, CEO and director of Matador Resources Co (MTDR), reported an open‑market purchase of 2,000 shares of Matador common stock on 09/12/2025 at a weighted average price of $48.15 per share. The Form 4 shows the reporting person directly owned 8,025 shares after the purchase and disclaims beneficial ownership of many other holdings, while also reporting numerous indirect holdings held of record by trusts and family entities, which are individually listed (for example, 519,881, 484,532, 1,105,913, and others). The filing includes footnotes describing the record owners and the reporting person’s trustee roles and powers over several trusts.

Positive

• Insider purchase of 2,000 shares at a weighted average price of $48.15 on 09/12/2025
• Disclosure of extensive indirect holdings across trusts and family entities, increasing transparency

Negative

• None.

Insights

Securities Analyst

TL;DR: CEO/director purchased a small block of shares, and the filing lists substantial indirect holdings across multiple trusts.

The Form 4 documents a 2,000‑share open‑market purchase by Joseph Wm. Foran at a weighted average price of $48.15. Post‑transaction direct ownership is reported as 8,025 shares. The filing primarily discloses indirect ownership via multiple trusts and family entities with sizable recorded positions (examples include 519,881, 1,105,913, 1,347,912). From a market perspective, an insider purchase is a positive signal of alignment with shareholders, but the purchased amount is modest relative to the larger indirect holdings noted. The report contains standard disclaimers of beneficial ownership and detailed footnotes identifying trustee relationships and transfers among trusts.

Corporate Governance Expert

TL;DR: Reporting person is both CEO and trustee of multiple vehicles; disclosure shows acquisitions and several trust structures holding shares.

The filing confirms Foran’s roles as Chairman and CEO and records his execution of an open‑market purchase on 09/12/2025. The document provides granular disclosure of indirect holdings held in numerous trusts, including transfers into certain GRATs and trusts as described in the footnotes. The footnotes appropriately explain trustee powers, transfers, and exemptions (for example, Employee Stock Purchase Plan acquisitions exempt under Rule 16b‑3). The filing appears procedurally complete and includes the required signature by attorney‑in‑fact.

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
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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).

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^*

Foran Joseph Wm

(Last) (First) (Middle)

5400 LBJ FREEWAY

SUITE 1500

(Street)

DALLAS TX 75240

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Matador Resources Co [ MTDR ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/12/2025		P		2,000	A	$48.15(1)	8,025(2)	D
Common Stock								519,881(3)	I	See footnote(4)
Common Stock								484,532(3)	I	See footnote(5)
Common Stock								1,105,913(3)	I	See footnote(6)
Common Stock								1,137,182(3)	I	See footnote(7)
Common Stock								1,347,912(3)	I	See footnote(8)
Common Stock								109,221(3)	I	See footnote(9)
Common Stock								109,221(3)	I	See footnote(10)
Common Stock								35,123(3)	I	See footnote(11)
Common Stock								35,123(3)	I	See footnote(12)
Common Stock								175,766(3)	I	See footnote(13)
Common Stock								175,766(3)	I	See footnote(14)
Common Stock								92,009(3)	I	See footnote(15)
Common Stock								92,009(3)	I	See footnote(16)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $48.14 to $48.15 per share, inclusive. The reporting person shall provide to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of shares purchased at each separate price.

2. Includes shares acquired pursuant to the Issuer's Employee Stock Purchase Plan. Such acquisitions are exempt under Rule 16-b3.

3. The reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of these shares. The reporting person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

4. Represents shares held of record by the Foran 2012 Savings Trust for which the reporting person's spouse is a trustee. Includes shares held by the trust following a transfer of shares by the reporting person to the trust, pursuant to the terms thereof.

5. Represents shares held of record by the Foran 2012 Security Trust for which the reporting person is the trustee. Includes shares held by the trust following a transfer of shares by the reporting person's spouse to the trust, pursuant to the terms thereof.

6. Represents shares held of record by Sage Resources, Ltd., which is a limited partnership owned by the reporting person's family, including the reporting person.

7. Represents shares held of record collectively by the LRF 2011 Non-GST Trust, WJF 2011 Non-GST Trust, JNF 2011 Non-GST Trust, SIF 2011 Non-GST Trust and MCF 2011 Non-GST Trust (collectively, the "2011 Non-GST Trusts"). The reporting person and his spouse, as settlors of each of the 2011 Non-GST Trusts, retain the power of substitution with respect to the property of the 2011 Non-GST Trusts.

8. Represents shares held of record collectively by the LRF 2020 Non-GST Trust, WJF 2020 Non-GST Trust, SIF 2020 Non-GST Trust and MCF 2020 Non-GST Trust (collectively, the "2020 Non-GST Trusts"). The reporting person and his spouse, as settlors of each of the 2020 Non-GST Trusts, retain the power of substitution with respect to the property of the 2020 Non-GST Trusts.

9. Represents shares held of record by the JWF 2024-1 GRAT, for which the reporting person is the trustee and over which the reporting person has sole voting and investment power.

10. Represents shares held of record by the NNF 2024-1 GRAT, for which the reporting person is the trustee and over which the reporting person has sole voting and investment power.

11. Represents shares held of record by the JWF 2024-2 GRAT, for which the reporting person is the trustee and over which the reporting person has sole voting and investment power.

12. Represents shares held of record by the NNF 2024-2 GRAT, for which the reporting person is the trustee and over which the reporting person has sole voting and investment power.

13. Represents shares held of record by the JWF 2025-1 GRAT, for which the reporting person is the trustee and over which the reporting person has sole voting and investment power.

14. Represents shares held of record by the NNF 2025-1 GRAT, for which the reporting person is the trustee and over which the reporting person has sole voting and investment power.

15. Represents shares held of record by the JWF 2025-2 GRAT, for which the reporting person is the trustee and over which the reporting person has sole voting and investment power. Includes 36,885 shares transferred to the trust following their distribution from the JWF 2023-2 GRAT to its settlor and 55,124 shares transferred to the trust following their distribution from the JWF 2024-2 GRAT to its settlor, each being annuity payments required by the terms of the respective trusts.

16. Represents shares held of record by the NNF 2025-2 GRAT, for which the reporting person is the trustee and over which the reporting person has sole voting and investment power. Includes 36,885 shares transferred to the trust following their distribution from the NNF 2023-2 GRAT to its settlor and 55,124 shares transferred to the trust following their distribution from the NNF 2024-2 GRAT to its settlor, each being annuity payments required by the terms of the respective trusts.

Remarks:

	/s/ Joseph Wm. Foran, by Cale L. Curtin as attorney-in-fact	09/15/2025
	** 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.

FAQ

What transaction did Joseph Wm. Foran report on Form 4 for MTDR?

He reported an open‑market purchase of 2,000 shares of Matador Resources common stock on 09/12/2025 at a weighted average price of $48.15 per share.

What is Joseph Wm. Foran's role at Matador Resources (MTDR)?

The Form 4 lists him as both Chairman and CEO and a director of Matador Resources Co.

How many shares did the reporting person directly own after the reported transaction?

The filing reports direct beneficial ownership of 8,025 shares following the transaction.

Does the Form 4 disclose other holdings besides the reported purchase?

Yes; the filing lists multiple indirect holdings held of record by trusts and entities with amounts such as 519,881, 484,532, 1,105,913, and others, with explanatory footnotes about trustee roles and transfers.

Were any purchases exempt or made under a plan referenced in the filing?

Footnote 2 states that some shares were acquired pursuant to the issuer’s Employee Stock Purchase Plan, which are exempt under Rule 16b‑3.