Michael R. Morrisett - Apr 22, 2024 Form 4 Insider Report for EMPIRE PETROLEUM CORP (EP)

Role
President & CEO, Director
Signature
/s/ Michael R. Morrisett
Stock symbol
EP
Transactions as of
Apr 22, 2024
Transactions value $
$366,945
Form type
4
Date filed
4/24/2024, 06:34 PM
Previous filing
Jan 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EP Common Stock Options Exercise $367K +73.4K +15.96% $5.00 533K Apr 22, 2024 Direct F1

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 Subscription Rights (right to buy) Options Exercise $0 -456K -100% $0.00* 0 Apr 22, 2024 Common Stock 73.4K $5.00 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of the Issuer's common stock purchased by the reporting person following the exercise of subscription rights, pursuant to the Issuer's rights offering to holders of common stock, as described in the Issuer's prospectus supplement dated March 7, 2024, as supplemented by the Issuer's prospectus supplement dated March 28, 2024 (the "Rights Offering").
F2 Represents the exercise price of $5.00 per whole share of common stock in the Rights Offering.
F3 Each holder of common stock of record as of March 7, 2024 received one right for each share of common stock, and each right carried with it a basic subscription right, which entitled the holder to purchase 0.161 of a share of common stock.