What changed
Diamondback Energy and SGF FANG Holdings amended their Stockholders Agreement on September 29, 2026, allowing the Stephens Majority to designate two directors if the Stephens Stockholders beneficially own at least 10% but less than 25% of Outstanding Shares, and no directors if ownership falls below 10%. In connection with a Board Stepdown, Darin Holderness and Lance Robertson resigned from the Board on September 29, 2026 and September 30, 2026, respectively, not due to any disagreement with the Company.
Why it matters
Diamondback Energy and SGF FANG Holdings amended their Stockholders Agreement on September 29, 2026, allowing the Stephens Majority to designate two directors if the Stephens Stockholders beneficially