<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-03-12</periodOfReport>

    <issuer>
        <issuerCik>0001539838</issuerCik>
        <issuerName>Diamondback Energy, Inc.</issuerName>
        <issuerTradingSymbol>FANG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002080063</rptOwnerCik>
            <rptOwnerName>SGF FANG Holdings, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SGF CAPITAL LLC, KEVIN T. KEEN</rptOwnerStreet1>
            <rptOwnerStreet2>8111 DOUGLAS AVE., SUITE 1200</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75225</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002021141</rptOwnerCik>
            <rptOwnerName>Greth Lyndal</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SGF CAPITAL LLC, KEVIN T. KEEN</rptOwnerStreet1>
            <rptOwnerStreet2>8111 DOUGLAS AVENUE, SUITE 1200</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75225</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2026-03-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>12650000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>170.1888</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>84036722</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On March 12, 2026, SGF FANG Holdings, LP, a Delaware limited partnership, sold 12,650,000 shares of common stock of Diamondback Energy, Inc. (the &quot;Company&quot;), par value $0.01 per share (the &quot;Common Stock&quot;), in an underwritten public offering pursuant to the Company's Registration Statement on Form S-3 (File No. 333-282225).</footnote>
        <footnote id="F2">The actual sale price was $170.18875. The price reported in Table I, Column 4 has been rounded to $170.1888 because the EDGAR filing system does not accommodate a fifth decimal place.</footnote>
        <footnote id="F3">Reduced by 5 shares to correct an administrative error in previous reporting of common stock held.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Kevin T. Keen, Attorney in fact</signatureName>
        <signatureDate>2026-03-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
