CIVITAS RESOURCES, INC. (CIVI) — Insider Trading

Key Insights

• CANADA PENSION PLAN INVESTMENT BOARD, the reporting person, has disposed of 9,524,201 shares of CIVITAS RESOURCES, INC. (CIVI) common stock, likely due to the merger agreement between CIVITAS and SM Energy Company.
• The disposition of shares was part of the merger agreement, where CIVITAS was acquired by SM Energy, and each eligible CIVITAS share was converted into the right to receive 1.45 shares of SM Energy common stock.
• The reporting person, CANADA PENSION PLAN INVESTMENT BOARD, is an indirect beneficial owner of the CIVITAS shares through its subsidiary CPPIB Crestone Peak Resources Canada Inc.