Form 8-K

8-K — Diamondback Energy, Inc.

Accession: 0001104659-26-112325

Filed: 2026-09-30

Period: 2026-09-29

CIK: 0001539838

SIC: 1311 (CRUDE PETROLEUM & NATURAL GAS)

Item: Entry into a Material Definitive Agreement

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Financial Statements and Exhibits

Documents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): September 29, 2026

DIAMONDBACK ENERGY, INC.

(Exact Name of Registrant as Specified in

Charter)

001-35700

45-4502447

(State or other jurisdiction of

incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)

500 West Texas Ave.

Suite 100

Midland, TX

79701

(Address of principal

executive offices)

(Zip Code)

(432) 221-7400

(Registrant’s telephone number, including

area code)

Not Applicable

(Former name or former address, if changed since

last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

FANG

The Nasdaq Stock Market LLC

(NASDAQ Global Select Market)

Indicate by check mark whether the registrant is an emerging

growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities

Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging

growth company ¨

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for

complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 1.01 Entry into a Material Definitive

Agreement.

On September 29, 2026, Diamondback Energy, Inc.

(the “Company”) and SGF FANG Holdings, LP entered into the First Amendment (the “Amendment”)

to the Stockholders Agreement, dated as of September 10, 2024 (as amended, supplemented or joined from time to time, the “Stockholders

Agreement”).

The Amendment provides, among other things, that

the Stephens Majority (as defined in the Stockholders Agreement) is entitled to designate (x) two directors to the board of directors

of the Company (the “Board”) if the Stephens Stockholders (as defined in the Stockholders Agreement), in the aggregate, beneficially

own at least 10% but less than 25% of the Outstanding Shares (as defined in the Stockholders Agreement), and (y) no directors to

the Board if the Stephens Stockholders beneficially own less than 10% of the Outstanding Shares.

A copy of the Amendment is filed as Exhibit 10.1

to this Current Report on Form 8-K and is incorporated by reference herein. The foregoing description of the Amendment does not purport

to be complete and is qualified in its entirety by reference to such Exhibit.

Item 5.02 Departure of Directors or Certain

Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

In connection with a Board

Stepdown (as defined in the Stockholders Agreement), and not due to any disagreement with the Company on any matter relating to the Company’s

operations, policies or practices, Darin Holderness and Lance Robertson resigned from the Board on September 29, 2026 and September 30, 2026, respectively.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number

Description

10.1*

First Amendment to Stockholders Agreement, dated as of September 29, 2026, by and between Diamondback Energy, Inc. and SGF FANG Holdings, LP.

104

Cover Page Interactive Data File—the cover page XBRL tags are embedded within the Inline XBRL document.

* Certain information in this exhibit has been redacted pursuant to Item 601(a)(6) of Regulation S-K.

SIGNATURE

Pursuant to the requirements

of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto

duly authorized.

DIAMONDBACK ENERGY, INC.

Date:

September 30, 2026

By:

/s/ Teresa L. Dick

Name:

Teresa L. Dick

Title:

Executive Vice President of Accounting and Assistant Secretary

EX-10.1 — EXHIBIT 10.1

EX-10.1

Filename: tm2626600d1_ex10-1.htm · Sequence: 2

Exhibit 10.1

FIRST AMENDMENT TO STOCKHOLDERS AGREEMENT

This First Amendment to the

Stockholders Agreement dated as of September 29, 2026 (this “Amendment”), is entered into by and between Diamondback

Energy, Inc., a Delaware corporation (the “Company”), and SGF FANG Holdings, LP (“SGF FANG Holdings”).

Capitalized terms used and not otherwise defined herein have the meanings given to such terms in the Stockholders Agreement (as defined

below).

RECITALS

WHEREAS, the Company and the

Initial Stephens Stockholders entered into that certain Stockholders Agreement, dated as of September 10, 2024 (the “Stockholders

Agreement”);

WHEREAS, SGF FANG Holdings

became a Stephens Stockholder pursuant to a joinder agreement entered into in accordance with the Stockholders Agreement (the “Joinder”)

and, as of the date hereof, holds a majority of the Voting Securities held by all Stephens Stockholders and therefore constitutes the

Stephens Majority;

WHEREAS, Section 7.3

of the Stockholders Agreement provides that the Stockholders Agreement may be amended by a written instrument executed by the Company

and the Stephens Majority; and

WHEREAS, the Company and the

Stephens Majority desire to amend the Stockholders Agreement as set forth herein to, among other things, modify the number of individuals

that the Stephens Majority is entitled to designate to the Board at specified Beneficial Ownership thresholds.

NOW, THEREFORE, in consideration

of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned

hereby agree as follows:

1.            Amendment

to Section 2.1(b). Section 2.1(b) is hereby deleted in its entirety and replaced with the following:

“(b)        Notwithstanding

the foregoing provisions of Section 2.1(a), the number of individuals that the Stephens Majority is entitled to designate

to serve as Directors pursuant to Section 2.1 shall be permanently reduced to: (i) two (2) Directors if, at any

time, the Stephens Stockholders, in the aggregate, Beneficially Own at least 10% of the Outstanding Shares but less than 25% of the Outstanding

Shares; and (ii) no Directors if, at any time, the Stephens Stockholders, in the aggregate, Beneficially Own less than 10% of the

Outstanding Shares. Any step-down reductions in the number of individuals that the Stephens Majority is entitled to designate to serve

as Directors pursuant to the immediately preceding sentence is referred to in any such case hereinafter as the “Board Stepdown.”

2.            Amendment

to Section 7.2. Section 7.2 is hereby amended by deleting the notice information set forth therein and replacing such notice

information with the following:

“if to the Company:

Diamondback Energy, Inc.

500 West Texas Ave.,

Suite 100

Midland, TX 79701

Attention: Kaes Van’t

Hof, Chief Executive Officer

Email: [***]

with a copy (not constituting notice)

to:

Latham &

Watkins LLP

1271 Avenue of the

Americas

New York, NY 10020

Attention: Zachary

S. Podolsky; Ryan J. Lynch

Email: Zachary.Podolsky@lw.com; Ryan.Lynch@lw.com

if to the Stephens Stockholders:

SGF FANG Holdings,

8111 Douglas Ave.,

Suite 1200

Dallas, TX 75225

Attention: Kevin

T. Keen

Email: [***]

with a copy (not constituting notice)

to:

Gibson, Dunn &

Crutcher LLP

811 Main Street,

Suite 3000

Houston, TX 77002

Attention: Hillary

Holmes

Email: hholmes@gibsondunn.com”

3.            Effectiveness

of this Amendment. Pursuant to Section 7.3 and Section 7.15 of the Stockholders Agreement, this Amendment

will become effective and binding upon the Company and the Stephens Stockholders as of the date hereof.

4.            Effect

of the Amendment. Except as expressly amended hereby, the Stockholders Agreement is hereby ratified and confirmed in all respects.

5.            Governing

Law. This Amendment shall be governed by and construed in accordance with the Laws of the State of Delaware, without regard to principles

of conflicts of Laws thereof.

6.            Entire

Agreement. This Amendment, together with the Stockholders Agreement and the Joinder, sets forth the entire understanding of the parties

hereto with respect to the subject matter hereof. There are no agreements, representations, warranties, covenants or understandings with

respect to the subject matter hereof other than those expressly set forth herein or therein.

7.            Severability.

If any provision of this Amendment, or the application of such provision to any Person or circumstance or in any jurisdiction, shall be

held to be invalid or unenforceable to any extent, (i) the remainder of this Amendment shall not be affected thereby, and each other

provision hereof shall be valid and enforceable to the fullest extent permitted by Law, (ii) as to such Person or circumstance or

in such jurisdiction such provision shall be reformed to be valid and enforceable to the fullest extent permitted by Law and (iii) the

application of such provision to other Persons or circumstances or in other jurisdictions shall not be affected thereby.

8.            Counterparts.

This Amendment may be executed in any number of counterparts, each of which will be deemed an original, but all of which will constitute

one and the same instrument.

IN WITNESS WHEREOF, the parties

hereto have duly executed this Amendment as of the date first above written.

COMPANY:

DIAMONDBACK ENERGY, INC.

By:

/s/ Kaes Van’t Hof

Name: Kaes Van’t Hof

Title: Chief Executive Officer

STEPHENS MAJORITY:

SGF FANG HOLDINGS, LP

By: SGF Capital LLC, its general partner

By:

/s/ Kevin T. Keen

Name: Kevin T. Keen

Title:   COO &

General Counsel

[Signature Page to First Amendment to Stockholders Agreement]

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