Banpu Public Co Ltd - 30 Jan 2026 Form 4 Insider Report for BKV Corp (BKV)

Role
Director, 10%+ Owner
Signature
/s/ Kathleen Lenox, attorney-in-fact for Banpu Public Company Limited
Issuer symbol
BKV
Transactions as of
30 Jan 2026
Net transactions value
$0
Form type
4
Filing time
30 Jan 2026, 17:03:05 UTC
SEC
View on sec.gov

Reporting Owners (5)

Name Relationship Address Signature Signature date CIK
Banpu Public Co Ltd Director, 10%+ Owner 1200 17TH STREET, SUITE 2100, DENVER /s/ Kathleen Lenox, attorney-in-fact for Banpu Public Company Limited 30 Jan 2026 0002108413
BOG CO., LTD. Director, 10%+ Owner 1200 17TH STREET, SUITE 2100, DENVER /s/ Kathleen Lenox, attorney-in-fact for BOG Co., Ltd. 30 Jan 2026 0001957014
Banpu North America Corp. Director, 10%+ Owner 1200 17TH STREET, SUITE 2100, DENVER /s/ Kathleen Lenox, attorney-in-fact for Banpu North America Corporation 30 Jan 2026 0001957047
Banpu Power Public Co Ltd 10%+ Owner 1200 17TH STREET, SUITE 2100, DENVER /s/ Kathleen Lenox, attorney-in-fact for Banpu Power Public Company Limited 30 Jan 2026 0002107374
Banpu Power US Corp 10%+ Owner 1200 17TH STREET, SUITE 2100, DENVER /s/ Kathleen Lenox, attorney-in-fact for Banpu Power US Corporation 30 Jan 2026 0002107690

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BKV Common Stock Other +5,315,390 +8.3% 69,193,004 30 Jan 2026 See footnote F1, F2
holding BKV Common Stock 63,877,614 30 Jan 2026 See footnote F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of common stock, par value $0.01 per share ("Common Stock"), issued to Banpu Power US Corporation ("BPPUS") as 50% of the closing consideration pursuant to that certain Membership Interest Purchase Agreement, dated as of October 29, 2025 (the "Purchase Agreement"), by and between BPPUS and BKV Corporation (the "Issuer"), in exchange for one-half of the limited liability company interests in BKV-BPP Power LLC held by BPPUS prior to the closing of the transactions contemplated by the Purchase Agreement. The number of shares of Common Stock issued to BPPUS was determined by dividing the amount equal to 50% of the purchase price under the Purchase Agreement by $21.6609, the volume-weighted average price of the Common Stock during the twenty (20) consecutive trading-day period ended October 28, 2025.
F2 BPPUS is a wholly owned subsidiary of Banpu Power Public Company Limited ("BPP"), which is a controlled subsidiary of Banpu Public Company Limited ("BPCL"). These shares are owned directly by BPPUS and indirectly by BPP and BPCL.
F3 Banpu North America Corporation ("BNAC") is a wholly owned subsidiary of BOG Co., Ltd. ("BOG"), which is a wholly owned subsidiary of BPCL. These securities are owned directly by BNAC and indirectly by BOG and BPCL.

Remarks:

The Reporting Persons herein may be deemed to be members of a "group" for purposes of the Securities Exchange Act of 1934, as amended. This filing shall not be deemed an admission that the Reporting Persons are beneficial owners of all securities covered by this filing for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose, and each Reporting Person disclaims beneficial ownership of these securities, except to the extent of such Reporting Person's pecuniary interest therein, if any. Pursuant to a stockholders' agreement between BNAC and the Issuer, for so long as BPCL beneficially owns, directly or indirectly, 10% or more of the Issuer's voting stock, BNAC will have the right to designate for nomination to the board of directors of the Issuer a number of individuals approximately proportionate to such beneficial ownership, subject to certain limitations set forth in such stockholders' agreement. Therefore, each of BNAC, BOG and BPCL may be deemed to be a director by deputization of the Issuer.