Leadership & Pay ·
Diamondback Energy board sees two directors removed as SGF FANG Holdings stake drops below 10%
FANGDiamondback Energy, Inc.
Diamondback Energy, Inc. entered into a First Amendment to its Stockholders Agreement with SGF FANG Holdings, LP on September 29, 2026. The amendment adjusts board representation rights for the Stephens Majority based on ownership thresholds: two directors if beneficial ownership is between 10% and 25%, and zero directors if below 10%. Concurrently, Darin Holderness resigned from the Board effective September 29, 2026, and Lance Robertson resigned effective September 30, 2026. The resignations were not due to disagreements regarding operations or policies. Diamondback Energy is an independent oil and natural gas company engaged in the acquisition, development, exploration, and production of crude oil, NGLs, and natural gas primarily in the Permian Basin.