Phil E. Mulacek - Nov 29, 2023 Form 4 Insider Report for EMPIRE PETROLEUM CORP (EP)

Role
Director, 10%+ Owner
Signature
/s/ Phil E. Mulacek
Stock symbol
EP
Transactions as of
Nov 29, 2023
Transactions value $
$10,054,653
Form type
4
Date filed
12/1/2023, 04:44 PM
Previous filing
Jun 12, 2023
Next filing
Apr 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EP Common Stock Award $5.05M +632K +25.19% $8.00 3.14M Nov 29, 2023 Direct F1
transaction EP Common Stock Award $5M +609K +19.4% $8.21 3.75M Nov 29, 2023 Direct F2
holding EP Common Stock 425K Nov 29, 2023 By Petroleum Independent & Exploration LLC
holding EP Common Stock 379K Nov 29, 2023 By Big Red Revocable Trust
holding EP Common Stock 344K Nov 29, 2023 By Five Sterling LP
holding EP Common Stock 30K Nov 29, 2023 By spouse
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person purchased the 631,832 shares from Empire Petroleum Corporation ("Empire") for an aggregate purchase price of $5,054,657.53, which was paid through cancellation and extinguishment of the outstanding principal amount and all accrued interest thereon under that certain Amended and Restated Promissory Note due December 31, 2024, in the original aggregate principal amount of $5,000,000, issued by Empire's wholly-owned subsidiary, Empire North Dakota LLC, to the reporting person.
F2 The reporting person purchased the 609,013 shares from Empire for an aggregate purchase price of $5,000,000 which was paid in cash to Empire.