Form: 3

Initial statement of beneficial ownership of securities

December 1, 2025

Documents

SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES


Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Gray Bradley G
(Last) (First) (Middle)
C/O DIVERSIFIED ENERGY COMPANY
1600 CORPORATE DRIVE
(Street)
BIRMINGHAM AL 35242
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
11/21/2025 		3. Issuer Name and Ticker or Trading Symbol
Diversified Energy Co PLC [ DEC ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
President and CFO
 5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common stock, par value $0.01 per share 192,131 D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (1) (1) Common stock 35,392 0(2) D
Restricted Stock Units (3) (3) Common stock 104,560 0(2) D
Restricted Stock Units (4) (4) Common stock 80,102 0(2) D
Stock Options (Right to Buy)(5) 04/14/2019 04/14/2028 Common stock 29,485 22(6) D
Stock Options (Right to Buy)(7) 05/09/2020 05/09/2029 Common stock 3,025 31.44(8) D
Explanation of Responses:
1. On March 21, 2023, the Reporting Person was granted 24,783 restricted stock units vesting on March 31, 2026. Dividend equivalent rights accrue with respect to these restricted stock units when and as dividends are paid on the Issuer's common stock. The number of derivative securities in column 3 includes 10,609 dividend equivalent units.
2. Restricted stock units convert into shares of common stock on a one-for-one basis.
3. On March 25, 2024, the Reporting Person was granted 86,246 restricted stock units vesting on March 31, 2027. Dividend equivalent rights accrue with respect to these restricted stock units when and as dividends are paid on the Issuer's common stock. The number of derivative securities in column 3 includes 18,314 dividend equivalent units.
4. On April 10, 2025, the Reporting Person was granted 75,445 restricted stock units vesting on March 31, 2028, subject to the Reporting Person's continued employment. Dividend equivalent rights accrue with respect to these restricted stock units when and as dividends are paid on the Issuer's common stock. The number of derivative securities in column 3 includes 4,657 dividend equivalent units.
5. This option was granted on April 14, 2018 and vested ratably over three years.
6. The exercise price for this option is denominated in British pounds sterling at a price of GBP 16.80 per share. The exercise price reported herein was converted from British pounds sterling to United States dollars at a conversion rate of GBP 1.00 to USD 1.3098. The exercise price is the actual British pounds sterling amount regardless of the exchange rate on the date of exercise.
7. This option was granted on May 9, 2019 and vested ratably over three years.
8. The exercise price for this option is denominated in British pounds sterling at a price of GBP 24.00 per share. The exercise price reported herein was converted from British pounds sterling to United States dollars at a conversion rate of GBP 1.00 to USD 1.3098. The exercise price is the actual British pounds sterling amount regardless of the exchange rate on the date of exercise.
Remarks:
Exhibit 24 - Power of Attorney
/s/ Benjamin Sullivan, Attorney-in-Fact 12/01/2025
** Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.