Duane H. King - 28 Oct 2025 Form 4 Insider Report for US ENERGY CORP (USEG)

Role
Director, Member of 10% owner group, 10%+ Owner
Signature
/s/ Duane H. King
Issuer symbol
USEG
Transactions as of
28 Oct 2025
Net transactions value
$0
Form type
4
Filing time
30 Oct 2025, 18:15:40 UTC
Previous filing
14 Feb 2025
Next filing
06 Mar 2026
SEC
View on sec.gov

Reporting Owners (3)

Name Relationship Address Signature Signature date CIK
King Duane H Director, Member of 10% owner group, 10%+ Owner 1401 LAKE PLAZA DR., SUITE 200-185, SPRING /s/ Duane H. King 30 Oct 2025 0001903594
King Oil & Gas Company, Inc. Director owned entity 1401 LAKE PLAZA DR., SUITE 200-185, SPRING /s/ Duane H. King, Chief Executive Officer of King Oil and Gas Company, Inc. 30 Oct 2025 0001938274
Synergy Offshore LLC Member of 10% owner group, 10%+ Owner 1401 LAKE PLAZA DR., SUITE 200-185, SPRING /s/ Duane H. King, Chief Executive Officer of Synergy Offshore LLC 30 Oct 2025 0001903570

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction USEG Common Stock Other $0 +332,329 +16% $0.000000 2,359,728 28 Oct 2025 Direct F1, F3, F4
transaction USEG Common Stock Other $0 -1,400,000 -100% $0.000000 0 28 Oct 2025 By Synergy Offshore LLC F1, F3, F5
holding USEG Common Stock 188,913 28 Oct 2025 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Excludes shares of common stock relating to the voting group included under "Remarks".
F2 Represents shares of common stock, $0.01 par value per share of the Issuer ("Common Stock"), held by Mr. Duane H. King. 20,000 of such shares of Common Stock are restricted shares that remain subject to time-based vesting on January 1, 2026, and recipient's continued service to the Issuer.
F3 On October 28, 2025, Synergy Offshore LLC distributed all 1,400,000 shares of Common Stock owned by it to Synergy Producing Properties, LLC ("SPP"), and SPP distributed all of such shares to its members, including 332,329 shares to King Oil. Such shares were distributed without payment of any additional consideration. As a result of such distribution, each of Mr. King and King Oil beneficially own less than 10% of the outstanding shares of Common Stock, and Synergy Offshore, LLC is no longer part of a 10% owner group.
F4 Represents shares of Common Stock, $0.01, held by King Oil & Gas Company, Inc. ("King Oil"), which is 100% owned by Duane K. King. The shares held by King Oil may be deemed to be beneficially owned by Mr. King due to his status as Chief Executive Officer of and ownership interests in King Oil. Mr. King disclaims beneficial ownership other than to the extent of his pecuniary interest therein.
F5 Represents shares of Common Stock previously held by Synergy Offshore LLC, which is 100% owned by SPP. The shares previously held directly by Synergy Offshore LLC may be deemed to be beneficially owned by Mr. King and King Oil based on certain member rights in SPP. Mr. King disclaims beneficial ownership other than to the extent of his pecuniary interest therein.

Remarks:

By virtue of being party to a Nominating and Voting Agreement, dated as of January 5, 2022, as amended September 16, 2023 (the "Voting Agreement"), Mr. King and King Oil may be deemed to be a member of a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended. The reporting persons disclaim beneficial ownership of any securities owned by any of the other signatories to the Voting Agreement (and/or their control persons) and the filing of this Form 4 shall not be deemed an admission, for purposes of Section 16 of the Exchange Act or otherwise, that any of the reporting persons and any other person or persons constitute a "group" for purposes of Section 13(d)(3) of the Exchange Act or Rule 13d-5 thereunder. In addition, none of the reporting persons have any pecuniary interest in any of the securities beneficially owned by any of the other signatories to the Voting Agreement (and/or their control persons).