X0306 4 2013-01-16 0 0000077877 PDC ENERGY, INC. pdce 0001195182 TRIMBLE JAMES M 1775 SHERMAN STREET, SUITE 3000 DENVER CO 80203 1 1 0 0 Pres., CEO and Director Common Stock 2013-01-16 4 A 0 49284 0 A 159229 D Stock Appreciation Rights 37.18 2013-01-16 4 A 0 41686 0 A 2014-01-16 2023-01-16 Common Stock 41686 41686 D Performance Share Rights 2013-01-16 4 A 0 19880 0 A 2015-12-31 Common Stock 19880 19880 D The common stock vests in three equal installments on January 16, 2014, 2015 and 2016. The SARs become exercisable in three equal installments on January 16, 2014, 2015 and 2016. The participant also holds additional previously awarded SARs subject to different vesting, exercise price and other criteria. Each performance share/right represents a contingent right to receive 0-200% of that target number of shares of PDCE common stock. The performance shares/rights vest upon continued employment and achievement of specified thresholds of total shareholder return (TSR) compared to certain peers. Participant also holds additional previously awarded performance shares/rights, all subject to different future vesting and performance criteria. /s/ James M. Trimble 2013-01-18