Keith E. Forbes - Jul 19, 2023 Form 4 Insider Report for HighPeak Energy, Inc. (HPK)

Role: Vice President and Controller
Signature: /s/ Steven W. Tholen as Attorney in Fact for Keith E. Forbes
Stock symbol: HPK
Transactions as of: Jul 19, 2023
Transactions value $: $147,000
Form type: 4
Date filed: 7/21/2023, 04:24 PM
Previous filing: Aug 15, 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	Purchase	$147K	+14K		$10.50	14K	Jul 19, 2023	See Footnote 2	F1
holding	HPK	Common Stock, par value $0.0001 per share						250	Jul 19, 2023	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	+15K		$0.00	15K	Jul 21, 2023	Common Stock, par value $0.0001 per share	15K	$10.50	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents shares of HighPeak Energy, Inc. (the "Issuer") common stock, par value $0.0001 per share ("Common Stock") purchased by the Reporting Person's personal investment vehicle from Roth Capital Partners, LLC (the "Underwriter") in an underwritten public offering conducted by the Issuer pursuant to an Underwriting Agreement between the Issuer and the Underwriter.
F2	The stock option was designed to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the guidance thereunder, and is exercisable only during the 90 day period following the earlier to occur of the Reporting Person's separation from service due to death or disability, the occurrence of a change in control of the Issuer, or August 1, 2026.