Al Barkmann
About Al Barkmann
Executive Vice President and Chief Engineer; appointed an executive officer of STR effective August 19, 2025 in connection with STR’s merger into New Viper (Viper Energy) . Previously EVP & Chief Engineer at Diamondback Energy (since February 2024) and at Viper Energy (since April 2024); earlier Senior/VP Reservoir Engineering roles at Diamondback (2018–2024) and Reservoir Engineering leadership at Energen (2006–2018); began career at BJ Services (2004–2006) . Education: BS in Petroleum Engineering, Louisiana State University; age 44 as referenced in Viper’s proxy bios . STR’s pre-merger executive pay program was heavily equity-based with PSUs tied to absolute TSR (target 10%, max 20%), and no cash bonuses; post-merger STR is a wholly owned subsidiary of New Viper and follows New Viper governance .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Diamondback Energy | EVP & Chief Engineer | Feb 2024–present | Leads engineering and reservoir strategy; Permian-focused expertise |
| Viper Energy | EVP & Chief Engineer | Apr 2024–present | Executive leadership over engineering; mineral/royalty portfolio optimization |
| Diamondback Energy | SVP/VP Reservoir Engineering; Reservoir Engineering Manager | Nov 2018–Feb 2024 | Built reservoir engineering programs; optimization across horizontal shale development |
| Energen Resources | Reservoir Engineering Manager; prior roles | 2006–2018 | Coordinated reservoir engineering for horizontal shale program; Midland/Delaware Basin acreage growth |
| BJ Services | Completions Engineer | 2004–2006 | Early career field/completions experience |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Diamondback Energy | EVP & Chief Engineer | Feb 2024–present | Concurrent executive role with Viper/STR integration |
| Viper Energy | EVP & Chief Engineer | Apr 2024–present | Viper leadership; New Viper became STR’s parent post-merger |
Fixed Compensation
- STR 8-K on officer appointments did not disclose Barkmann’s base salary, bonus, or employment agreement terms upon his August 19, 2025 appointment .
- Pre-merger STR did not maintain an annual cash bonus program for executive officers; compensation was oriented to long-term equity incentives (RSUs/PSUs) tied to absolute TSR .
Performance Compensation
| Award Type | Company | Metric | Performance Period | Target/Value | Vesting/Mechanics |
|---|---|---|---|---|---|
| Performance-Based RSUs (PRSUs) | Viper Energy | Performance-based restricted stock (metric not specified in excerpt) | Jan 1, 2024–Dec 31, 2026 | $250,000 targeted LTI value | Three-year performance-based award structure per DEF 14A |
| PSUs (absolute TSR) | STR (pre-merger program for NEOs) | Annualized absolute TSR | Dec 31, 2023–Dec 31, 2026 | Payout schedule below | Earned 0–200% of target; linear interpolation between levels |
Absolute TSR payout schedule used by STR PSUs (pre-merger):
| TSR Goal | % of Target PSUs Earned |
|---|---|
| Less than 0% | 0% |
| 0% (Threshold) | 50% |
| 10% (Target) | 100% |
| 20% (Maximum) | 200% |
Notes:
- STR’s RSUs vest in three equal annual installments; PSUs tied to absolute TSR over three years; acceleration and pro-rata rules apply under certain terminations/change-in-control as described below .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Hedging/short sales | Prohibited under STR’s Insider Trading Policy; officer trades require pre-clearance |
| Stock ownership guidelines (STR, pre-merger) | CEO ≥5x salary; CFO/EVPs ≥3x salary; includes direct/indirect shares, unvested time-based RSUs, DSUs, OpCo units; excludes unearned PSUs |
| Beneficial ownership (VNOM) | Barkmann filed Form 4 on Aug 19, 2025 disposing 1,000 VNOM Class A shares; post-transaction beneficial ownership reported as 0 shares |
| STR beneficial ownership | Not disclosed in STR’s Mar 28, 2025 proxy (he was not an officer then); new officer appointments occurred Aug 19, 2025 |
Insider transaction detail:
| Ticker | Date | Transaction Type | Shares | Holdings After |
|---|---|---|---|---|
| VNOM | 2025-08-19 | Disposition (Form 4) | 1,000 | 0 |
Employment Terms
- STR (pre-merger) had no individual employment agreements for executive officers; severance governed by Sitio Royalties Corp. Amended and Restated Severance Plan .
- Severance multiples (pre-merger STR NEOs): during CIC Period—36 months of base salary for CEO, 24 months for other NEOs; outside CIC—24 months CEO, 18 months others; plus immediate vesting of time-based awards and PSU settlement based on greater of target/actual during CIC, or pro-rata service and actual performance outside CIC/death/disability .
- No excise tax gross-up; “best-of-net” 280G cutback provision .
Quantification examples (pre-merger STR as of Dec 31, 2024; CEO shown for context):
| Scenario | Cash Severance ($) | Accelerated Equity ($) | Total ($) |
|---|---|---|---|
| CEO – CIC Period | 2,550,000 | 12,025,476 | 14,575,476 |
| CEO – Outside CIC | 1,700,000 | 8,645,953 | 10,345,953 |
Caveat: Post-merger governance and compensation plans are under New Viper; specific employment/severance terms for Barkmann at STR have not been disclosed in STR filings as of his Aug 19, 2025 appointment .
Investment Implications
- Alignment: Barkmann’s compensation at Viper includes performance-based RSUs with a three-year horizon, supporting long-term, at-risk equity alignment; STR’s pre-merger design emphasized absolute TSR with no cash bonuses, reinforcing pay-for-performance culture that is broadly consistent with Viper’s equity-heavy approach .
- Ownership/pressure: Immediate post-merger Form 4 shows zero VNOM shares beneficially owned, suggesting limited near-term discretionary selling pressure; continued equity awards and performance-based vesting are the primary levers for alignment and retention .
- Governance stability: STR ceased to be publicly traded following the Mergers and now operates under New Viper’s governance; officer appointments, amended charter/bylaws, and special meeting approvals indicate stable integration under Diamondback/Viper leadership framework (Barkmann included) .
- Risk controls: Hedging prohibited; stock ownership guidelines historically required meaningful holding multiples at STR (EVPs ≥3x salary); clawback policies in place pre-merger; investors should monitor updated New Viper-specific policies for Barkmann as they become available .
Sources
- STR filings: DEF 14A (Mar 28, 2025) ; 8-K (Aug 19, 2025) ; 8-K (Aug 8, 2025) .
- Viper/Diamondback: Management bios and DEF 14A extracts .
- Insider transactions: VNOM Form 4 for Barkmann (Aug 19, 2025) .