Jack Hightower - Nov 4, 2021 Form 4 Insider Report for HighPeak Energy, Inc. (HPK)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Jack Hightower
Stock symbol
HPK
Transactions as of
Nov 4, 2021
Transactions value $
$0
Form type
4
Date filed
11/8/2021, 03:11 PM
Next filing
Nov 17, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HPK Common Stock, par value $0.0001 per share Award $0 +1.39M +158.12% $0.00 2.26M Nov 4, 2021 Direct F1
holding HPK Common Stock, par value $0.0001 per share 81.2M Nov 4, 2021 See Footnotes F2, F3
holding HPK Common Stock, par value $0.0001 per share 2.34K Nov 4, 2021 By Wife

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 HPK Employee Stock Option (right to buy) Award $0 +165K +2.76% $0.00 6.12M Nov 4, 2021 Common Stock, par value $0.0001 per share 165K $14.36 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On April 5, 2021, the Reporting Person filed a Form 4 which inadvertently reported that, following an open market purchase of the Issuer's common stock, par value $0.0001 per share ("Common Stock") he held a total of 276,223 shares of Common Stock. In fact, in addition to the 276,223 shares of Common Stock previously reported and the acquisition reported in this Form 4, the reporting person directly owns an additional 100,000 shares of Common Stock acquired by the Reporting Person in connection with the business combination transaction between the Issuer and Pure Acquisition Corp., a Delaware corporation (the "Transaction") and 500,000 shares of Common Stock acquired by HighPeak Energy III, LP a Delaware limited partnership ("HighPeak III") in connection with the Transaction and later transferred to the Reporting Person.
F2 Represents shares of Common Stock received by (i) HighPeak Pure Acquisition, LLC, a Delaware limited liability company ("Pure Sponsor"), (ii) HighPeak Energy, LP, a Delaware limited partnership ("HighPeak I"), (iii) HighPeak Energy II, LP, a Delaware limited partnership ("HighPeak II" and, together with Pure Sponsor, HighPeak I, and HighPeak III, the "Record Holders" and each, a "Record Holder") in connection with the Transaction.
F3 The Reporting Person directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the Common Stock owned by the Record Holders. The Reporting Person disclaims beneficial ownership of the Common Stock held by each of the Record Holders except to the extent of his pecuniary interest in each of the Record Holders and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F4 The option was fully vested as of the date of grant.