By Stephen Nakrosis

Permian Resources said members of management and other long-term holders will receive Class A shares in exchange for their Class C securities as the company moves to simplify its current Up-C structure.

The reorganization won't result in any changes for the company's public shareholders, as the ticker, trading and total share count will remain the same, the oil and natural gas company said Monday.

The exchange will see certain shareholders turn in their Class C shares, as well as contribute units representing limited liability company interests in Permian Resources Operating, LLC, to a new public holding company, Permian Resources Corp., which will become the parent of Permian Resources.

Permian said its management team owns more than 6% of total shares outstanding, and that following the exchange, Co-Chief Executive Officers James Walter and Will Hickey ill continue to receive 100% of their compensation in the form of performance stock units. The company added that board members receive all their compensation in equity, and that its management team receives a majority of their compensation in equity.

The company said it may be in a position to eliminate the Up-C structure by the end of 2027.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 22, 2025 16:49 ET (21:49 GMT)

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