Matador Resources Insider Purchase: 600 Shares by EVP Elsener

Rhea-AI Filing Summary

William Thomas Elsener, Executive Vice President, Reservoir Engineering at Matador Resources Co (MTDR), reported a personal purchase of 600 shares of the issuer's common stock on 09/11/2025 at a price of $48.46 per share. After the transaction the reporting person beneficially owned 112,069 shares, which the filing notes include 2,667 restricted shares granted on 02/16/2023 that vest on the third anniversary of the grant and additional shares acquired under the company's Employee Stock Purchase Plan (exempt under Rule 16b-3). The Form 4 was executed by attorney-in-fact and signed on 09/15/2025.

Insights

Securities Analyst

TL;DR: Insider purchased a modest number of shares, increasing direct ownership to 112,069 shares.

The reported purchase of 600 shares at $48.46 is a routine, non-derivative acquisition by an executive officer and results in 112,069 shares beneficially owned. The filing discloses restricted stock granted in 2023 that vests on its third anniversary and purchases under the Employee Stock Purchase Plan, both explicitly noted in the filing. The transaction size is small relative to the total ownership figure reported and is recorded as a direct holding. There are no derivative transactions or dispositions reported in this Form 4.

Corporate Governance Expert

TL;DR: Disclosure is complete for the reported transaction and the vesting schedule for restricted shares is specified.

The Form 4 properly identifies the reporting person, role (EVP, Reservoir Engineering), transaction date, price, and resulting beneficial ownership. The filing also clarifies that 2,667 restricted shares granted on 02/16/2023 vest on the third anniversary and that ESPP acquisitions are exempt under Rule 16b-3. The signature by attorney-in-fact is present with a 09/15/2025 date. There are no amendments or derivative positions disclosed in this filing.

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

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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^*

Elsener William Thomas

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Reservoir Engineering

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

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	09/11/2025		P		600	A	$48.46	112,069(1)(2)	D

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. Includes 2,667 shares of restricted stock granted to the reporting person on February 16, 2023 that vest on the third anniversary of the date of grant.

2. Includes shares acquired pursuant to the Issuer's Employee Stock Purchase Plan. Such acquisitions are exempt under Rule 16b-3.

Remarks:

	/s/ William Thomas Elsener, 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.