Michael R. Morrisett - Sep 28, 2021 Form 4 Insider Report for EMPIRE PETROLEUM CORP (EP)

Signature
/s/ Michael R. Morrisett
Stock symbol
EP
Transactions as of
Sep 28, 2021
Transactions value $
-$160,312
Form type
4
Date filed
9/30/2021, 06:42 PM
Previous filing
Jun 1, 2021
Next filing
Mar 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EP Common Stock Exercise of in-the-money or at-the-money derivative security $50K +200K +11.81% $0.25* 1.89M Sep 28, 2021 Direct
transaction EP Common Stock Sale -$150K -200K -10.56% $0.75* 1.69M Sep 28, 2021 Direct
transaction EP Common Stock Exercise of in-the-money or at-the-money derivative security $47.4K +144K +8.48% $0.33* 1.84M Sep 28, 2021 Direct
transaction EP Common Stock Sale -$108K -144K -7.82% $0.75* 1.69M Sep 28, 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EP Common Stock Warrant (Right to Buy) Exercise of in-the-money or at-the-money derivative security $0 -200K -100% $0.00* 0 Sep 28, 2021 Common Stock 200K $0.25 Direct F1
transaction EP Employee Stock Option (Right to Buy) Exercise of in-the-money or at-the-money derivative security $0 -2.5M -51.48% $0.00 2.36M Sep 28, 2021 Common Stock 144K $0.33 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Common Stock Warrant was amended on 04/03/2019 to extend the expiration date from 12/31/2021 to 04/02/2029.
F2 The Option vests in three installments as follows: 1,250,000 on April 3, 2019; 625,000 on April 3, 2020; and 625,000 on April 3, 2021.