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

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-03-04</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>2026-03-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1000000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>176.71</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>96686727</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Pursuant to a letter agreement, dated November 28, 2025, by and between Diamondback Energy, Inc., a Delaware corporation (the &quot;Company&quot;), and SGF FANG Holdings, LP, a Delaware limited partnership (&quot;SGF FANG&quot;), SGF FANG sold 1,000,000 shares of common stock to the Company on March 4, 2026 at the March 4, 2026 closing price of the common stock on Nasdaq. Mrs. Greth is the ultimate beneficial owner of the shares held of record by SGF FANG and indirectly controls SGF Capital LLC, its general partner.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Kevin T. Keen, Attorney in fact</signatureName>
        <signatureDate>2026-03-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
