Thomas W. Pritchard - Apr 26, 2022 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: Apr 26, 2022
Transactions value $: $310,200
Form type: 4
Date filed: 4/28/2022, 06:16 PM
Previous filing: Mar 2, 2022
Next filing: May 27, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EP	Common Stock	Options Exercise	$310K	+235K	+794.38%	$1.32^*	265K	Apr 26, 2022	Direct	F1, F2

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	Employee Stock Option (Right to Buy)	Options Exercise	$0	-235K	-39.89%	$0.00	354K	Apr 26, 2022	Common Stock	235K	$1.32	Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	As adjusted to give effect to Empire's 1-for-4 reverse common stock split which became effective on March 7, 2022 ("Reverse Stock Split").
F2	Includes 19,583 shares previously held through Pritchard Energy Advisors, LLC which were distributed to the reporting person and are now owned directly.
F3	The option vested in three installments as follows: 312,500 on April 3, 2019; 156,250 on April 3, 2020; and 156,250 on April 3, 2021 (as adjusted for the Reverse Stock Split).