[Form 4] Viper Energy, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Austen Gilfillian, President of VNOM Sub, Inc. (VNOM), reported a disposition of 45,213 shares of Class A common stock on 08/19/2025, leaving 0 shares beneficially owned following the transaction. The filing discloses 29,383 restricted stock units (RSUs) representing contingent rights to receive Class A shares, with scheduled vesting of 4,415 on 10/01/2025, 12,130 on 03/01/2026, 2,560 on 10/01/2026 and 10,278 on 03/01/2027. The form references the Sitio Merger Agreement dated 06/02/2025, which provides that at the effective time of the described Viper Pubco Merger each outstanding Viper Class A share will be cancelled and converted into one share of New Viper Class A common stock.

Positive

• Vesting schedule disclosed for 29,383 RSUs, including exact tranche amounts and dates
• Merger terms referenced (Sitio Merger Agreement) clarifying conversion mechanics of Class A shares into New Viper Class A shares

Negative

• Reporting person disposed of 45,213 Class A shares, leaving zero beneficial ownership of that class post-transaction
• No price or proceeds disclosed for the disposition, preventing assessment of economic impact or whether transaction was sale vs. merger conversion

Insights

Securities Analyst

TL;DR: Insider reported a full disposition of 45,213 Class A shares while retaining RSUs with multi-date vesting; transaction tied to a disclosed merger.

The filing documents a disposal of 45,213 Class A shares by the reporting officer, resulting in zero directly beneficially owned shares post-transaction. Material contextual detail is the Sitio Merger Agreement which will cancel and convert outstanding Viper Class A shares into New Viper Class A shares on closing. The disclosure of 29,383 RSUs and their vesting schedule is important for understanding potential future dilution and insider compensation timing. There is no pricing or cash-proceeds information in the Form 4 to indicate whether the disposition was a sale, a merger-related conversion, or another transfer method; the form ties the event to the merger agreement but does not explicitly state the transaction mechanics or proceeds.

Corporate Governance Expert

TL;DR: Officer-level insider transaction linked to a corporate merger; RSU vesting timeline disclosed but no economic terms provided.

The report appropriately identifies the reporting person as President and furnishes the required post-transaction holdings and RSU vesting schedule. The mention of the Sitio Merger Agreement is governance-relevant because it changes the share capital structure by converting existing Class A shares into New Viper shares. However, the Form 4 lacks explicit information on consideration received for the disposed shares and whether the disposition was a voluntary sale, a merger exchange, or another form of transfer—which limits assessment of insider alignment with shareholders.

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

X

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^*

Gilfillian Austen

(Last) (First) (Middle)

500 WEST TEXAS AVENUE

SUITE 100

(Street)

MIDLAND TX 79701

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
VNOM Sub, Inc. [ VNOM ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

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
Class A Common Stock	08/19/2025		D		45,213(1)	D	(2)	0	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. These securities include 29,383 restricted stock units, each representing a contingent right to receive one share of Class A common stock, par value $0.000001 per share, of Viper (as defined below). These restricted stock units were granted to the reporting person under the issuer's long term incentive plan and 4,415 will vest on October 1, 2025, 12,130 will vest on March 1, 2026, 2,560 will vest on October 1, 2026, and 10,278 will vest on March 1, 2027.

2. Pursuant to the Agreement and Plan of Merger (the "Sitio Merger Agreement"), dated June 2, 2025, by and among VNOM Sub, Inc. (f/k/a Viper Energy, Inc.) ("Viper"), Sitio Royalties Corp., Sitio Royalties Operating Partnership, LP, a subsidiary of Sitio, Viper Energy, Inc. (f/k/a New Cobra Pubco Inc.), a wholly owned subsidiary of Viper ("New Viper"), Cobra Merger Sub, Inc., a wholly owned subsidiary of New Viper ("Viper Merger Sub") and Scorpion Merger Sub, Inc., a wholly owned subsidiary of New Viper, upon close of the Sitio Merger Agreement Viper Merger Sub will merge with and into Viper, with Viper continuing as the surviving corporation and a wholly owned subsidiary of New Viper (the "Viper Pubco Merger"). At the effective time of the Viper Pubco Merger, each share of Viper's Class A Common Stock then issued and outstanding will be cancelled and automatically converted into one share of New Viper's Class A common stock.

Remarks:

	/s/ Teresa L. Dick, as attorney-in-fact for Austen Gilfillian	08/19/2025
	** 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 did Austen Gilfillian report on Form 4 for VNOM?

The filing reports a disposition of 45,213 Class A shares on 08/19/2025, leaving 0 Class A shares beneficially owned after the transaction.

Does the Form 4 show any restricted stock units for VNOM insiders?

Yes. The report discloses 29,383 RSUs with vesting of 4,415 on 10/01/2025, 12,130 on 03/01/2026, 2,560 on 10/01/2026 and 10,278 on 03/01/2027.

Is the disposition related to a corporate transaction for VNOM (VNOM)?

The Form 4 references the Sitio Merger Agreement dated 06/02/2025, noting that at the effective time Viper Class A shares will be cancelled and converted into New Viper Class A shares.

Did the Form 4 disclose the sale price or cash proceeds of the disposed shares?

No. The submission does not provide a price or proceeds amount for the disposition, so economic terms are not disclosed in this filing.

What is the reporting person’s role at VNOM?

The Form 4 identifies Austen Gilfillian as President of VNOM Sub, Inc.