Matador Resources (NYSE: MTDR) EVP settles phantom unit awards in cash

Rhea-AI Filing Summary

Krug George G reported acquisition or exercise transactions in this Form 4 filing.

Matador Resources EVP George G. Krug reported cash settlements of vested phantom unit awards tied to the company’s common stock. On February 14, 2026, awards covering 6,666 and 5,000 phantom units vested, and on February 16, 2026, an additional 5,000 phantom units vested.

Each phantom unit is the economic equivalent of one Matador common share, but these awards were settled for cash at $47.80 per unit, based on the closing share price on February 13, 2026. No shares of common stock were issued to or sold by Krug in connection with these transactions.

Insider Trade Summary

16,666 shares exercised/converted

Mixed 3 txns

Insider Krug George G

Role EVP - Mktg and Midstream

Type	Security	Shares	Price	Value
Exercise	Phantom Units	5,000	$0.00	--
Exercise	Phantom Units	6,666	$0.00	--
Exercise	Phantom Units	5,000	$0.00	--

Holdings After Transaction: Phantom Units — 0 shares (Direct)

Footnotes (1)

1. Each phantom unit is the economic equivalent of one share of the Issuer's common stock. As required by the terms of the award, upon the February 14, 2026 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $47.80 per unit based upon the closing price of the Issuer's common stock on February 13, 2026. No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction. The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 14, 2025. The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 14, 2024. Each phantom unit is the economic equivalent of one share of the Issuer's common stock. As required by the terms of the award, upon the February 16, 2026 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $47.80 per unit based upon the closing price of the Issuer's common stock on February 13, 2026. No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction. The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 16, 2023.

Form 4 Insider Transactions: What Each Field Means →

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

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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^*

Krug George G

(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 - Mktg and Midstream

3. Date of Earliest Transaction (Month/Day/Year)
02/14/2026

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

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
Phantom Units	(1)	02/14/2026		M			6,666	(2)	(2)	Common Stock	6,666	$0	13,334	D
Phantom Units	(1)	02/14/2026		M			5,000	(3)	(3)	Common Stock	5,000	$0	5,000	D
Phantom Units	(4)	02/16/2026		M			5,000	(5)	(5)	Common Stock	5,000	$0	0	D

Explanation of Responses:

1. Each phantom unit is the economic equivalent of one share of the Issuer's common stock. As required by the terms of the award, upon the February 14, 2026 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $47.80 per unit based upon the closing price of the Issuer's common stock on February 13, 2026. No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction.

2. The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 14, 2025.

3. The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 14, 2024.

4. Each phantom unit is the economic equivalent of one share of the Issuer's common stock. As required by the terms of the award, upon the February 16, 2026 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $47.80 per unit based upon the closing price of the Issuer's common stock on February 13, 2026. No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction.

5. The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 16, 2023.

Remarks:

	/s/ George G. Krug, by Cale L. Curtin as attorney-in-fact	02/18/2026
	** 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.
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FAQ

What insider transaction did Matador Resources (MTDR) report for George G. Krug?

Matador Resources reported that EVP George G. Krug settled vested phantom unit awards for cash. Multiple phantom unit tranches vested in February 2026 and were converted economically based on Matador’s share price, with no company common stock issued or sold in these transactions.

How many phantom units did Matador EVP George Krug settle in February 2026?

George Krug settled phantom unit awards covering 6,666 units and 5,000 units on February 14, 2026, and 5,000 units on February 16, 2026. Each phantom unit is economically equivalent to one share of Matador Resources common stock under the plan terms.

Were any Matador Resources (MTDR) shares bought or sold in this Form 4 filing?

No, the Form 4 states that no Matador common shares were issued to or sold by George Krug. The vested phantom units were settled entirely in cash, based on the company’s February 13, 2026 closing share price of $47.80 per unit.

At what price were Matador’s phantom units settled for George Krug?

The phantom units were settled for cash at $47.80 per unit. This rate was based on the closing price of Matador Resources common stock on February 13, 2026, as required by the terms of the phantom unit award agreement.

How do Matador Resources’ phantom units work for executives like George Krug?

Each phantom unit is economically equivalent to one share of Matador common stock. Units vest in equal annual installments over three years from the grant date, and upon vesting, they are settled in cash at a rate tied to the company’s share price.

When do George Krug’s Matador phantom unit awards vest?

According to the filing, certain phantom units vest in equal annual installments on the first, second, and third anniversaries of February 14, 2024, February 14, 2025, and February 16, 2023. The February 2026 transactions reflect partial vestings under these schedules.