Diamondback Energy amends stockholder pact; two directors resign in board stepdown
Diamondback Energy amended its Stockholders Agreement with SGF FANG Holdings, LP, tying the Stephens group's board designation rights to its ownership level. Directors Darin Holderness and Lance Robertson resigned from the board in connection with a Board Stepdown under that agreement, not because of any disagreement with the company.
Key points
- Amendment dated September 29, 2026 lets the Stephens Majority designate two directors if Stephens Stockholders own at least 10% but less than 25% of outstanding shares.
- The Stephens Stockholders would have no designated directors if they own less than 10% of outstanding shares.
- Darin Holderness resigned from the board on September 29, 2026; Lance Robertson resigned on September 30, 2026.
- Resignations were stated to be unrelated to any disagreement with the company on operations, policies or practices.
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 30, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.