Thomas W. Pritchard - Sep 28, 2021 Form 4 Insider Report for EMPIRE PETROLEUM CORP (EP)

Role: Chief Executive Officer, Director
Signature: /s/ Thomas W. Pritchard
Stock symbol: EP
Transactions as of: Sep 28, 2021
Transactions value $: -$160,312
Form type: 4
Date filed: 9/30/2021, 06:43 PM
Previous filing: Jun 1, 2021
Next filing: Feb 14, 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		$0.25^*	200K	Sep 28, 2021	Direct
transaction	EP	Common Stock	Sale	-$150K	-200K	-100%	$0.75^*	0	Sep 28, 2021	Direct
transaction	EP	Common Stock	Exercise of in-the-money or at-the-money derivative security	$47.4K	+144K		$0.33^*	144K	Sep 28, 2021	Direct
transaction	EP	Common Stock	Sale	-$108K	-144K	-100%	$0.75^*	0	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.