X0306 4 2016-06-21 0 0000010254 EARTHSTONE ENERGY INC ESTE 0001094121 SINGLETON RAY J JR 633 17TH STREET SUITE 2320 DENVER CO 80202 1 1 0 0 EVP Common Stock 2016-06-21 4 P 0 9500 10.50 A 527502 D Represents a purchase from the underwriters in the Issuer's public offering. Includes 65,000 restricted stock units that vest as follows: 21,500 units on January 1, 2017 and the remaining 43,500 units in 12 equal monthly installments beginning on January 31, 2017, subject to the terms of the restricted stock unit agreement. Each restricted stock unit represents the contingent right to receive one share of common stock of the Issuer. /s/ Ray Singleton 2016-06-22