Jack Hightower - Aug 22, 2022 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: Aug 22, 2022
Transactions value $: $10,000,006
Form type: 4
Date filed: 8/24/2022, 04:08 PM
Previous filing: Aug 15, 2022
Next filing: Dec 23, 2022

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	$10M	+463K	+20.46%	$21.61	2.72M	Aug 22, 2022	Direct	F1
holding	HPK	Common Stock, par value $0.0001 per share						81.2M	Aug 22, 2022	See Footnotes	F2, F3
holding	HPK	Common Stock, par value $0.0001 per share						2.34K	Aug 22, 2022	By Wife

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

Explanation of Responses:

Id	Content
F1	On August 22, 2022, the Reporting Person purchased shares of HighPeak Energy, Inc.'s (the "Issuer") common stock, par value $0.0001 per share ("Common Stock"), pursuant to a subscription agreement by and between the Reporting Person and the Issuer, as part of a private placement. The issuance of the shares to the Reporting Person was approved by the Issuer's board of directors in the manner contemplated by Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
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 Energy III, LP, a Delaware limited partnership, the "Record Holders") in connection with the business combination transaction between the Issuer and Pure Acquisition Corp., a Delaware corporation.
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 Exchange Act 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.