Diamondback Energy, Inc. — Form 10-Q

Diamondback Energy established an Executive Retirement Policy effective August 1, 2026, providing retirement benefits to Officers (VP-level and above) who meet qualifying criteria: age 55+, age plus years of employment ≥65, minimum 10 years service, and 6 months' advance notice. Benefits include: full acceleration of unvested RSUs granted after the policy effective date; PSUs remain eligible to vest for 12 months (24 months for 15+ year employees) based on performance goals; prorated target annual bonus; and COBRA premium payments up to age 65 or 18 months, whichever is less. Benefits are conditioned on executing a release of claims within 45 days and complying with restrictive covenants. The policy is unfunded and may be amended by the Compensation Committee, except post-Change of Control amendments require affected participant consent. No specific dollar amounts, participant counts, or existing retirements are disclosed.