X0306 4 2018-02-21 0 0000077877 PDC ENERGY, INC. PDCE 0001471391 Lauck Lance 1775 SHERMAN STREET, SUITE 3000 DENVER CO 80203 0 1 0 0 EVP, Corp. Dev. & Strategy Common Stock 2018-02-21 4 A 0 15211 0 A 110906 D Common Stock 2791 I By 401(k) Plan Performance Share Units 2018-02-21 4 A 0 15211 0 A 2020-12-31 Common Stock 15211 15211 D The restricted stock units were acquired pursuant to the Amended and Restated 2010 Long-Term Equity Compensation Plan and will vest in three equal annual installments beginning on February 21, 2019. 401(k) Plan holdings as of February 21, 2018. Each performance share unit represents a contingent right to receive 0-200% of that number in shares of Company common stock. The amount reported represents the "target" number. The performance shares units vest upon continued employment and achievement of specified thresholds of total shareholder return (TSR) compared to certain peers, as measured in December of 2020 and as described in the related grant agreement. Participant also holds additional previously awarded performance shares/rights and performance share units, all subject to different future vesting and performance criteria. Daniel W. Amidon, by power of attorney 2018-02-23