Keith E. Forbes - May 4, 2022 Form 4 Insider Report for HighPeak Energy, Inc. (HPK)

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	+15K		$0.00	15K	May 4, 2022	Common Stock, par value $0.0001 per share	15K	$29.67	Direct	F1, F2
transaction	HPK	Employee Stock Option (right to buy)	Other	$0	+3K		$0.00	3K	May 4, 2022	Common Stock, par value $0.0001 per share	3K	$29.67	By Wife	F3, F4

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

Id	Content
F1	The option was fully vested as of the date of grant.
F2	This Form 4 reports in Box 9 the aggregate number of Employee Stock Options of the same class beneficially owned by the reporting person. In prior Form 4 filings, the reporting person reported in Box 9 the aggregate number of Employee Stock Options of all classes beneficially owned by the reporting person; however, the reporting person hereby undertakes to report in Box 9 only the aggregate number of Employee Stock Options of the same class beneficially owned by the reporting person herein and in future filings.
F3	This transaction involved the grant of options to the reporting person's wife, who is also an employee of the Issuer.
F4	The option vests in three equal installments: one-third on the date of grant, one-third on the first anniversary of the date of grant, and one-third on the second anniversary of the date of grant