Edward Kovalik - Jun 12, 2024 Form 4 Insider Report for Prairie Operating Co. (PROP)

Role: Chief Executive Officer, Director
Signature: /s/ Edward Kovalik
Stock symbol: PROP
Transactions as of: Jun 12, 2024
Transactions value $: $0
Form type: 4
Date filed: 6/14/2024, 08:31 PM
Previous filing: May 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PROP	Common Stock	Award	$0	+126K	+10.93%	$0.00	1.27M	Jun 12, 2024	Direct	F1, F2

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	PROP	Performance Units	Award	$0	+83.7K		$0.00	83.7K	Jun 12, 2024	Common Stock	83.7K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	Represents restricted stock units ("RSUs") granted under the 2024 Amended & Restated Prairie Operating Co. Long-Term Incentive Plan (the "LTIP"). Each RSU represents a contingent right to receive, upon vesting, one share of common stock, par value $0.01 per share, of the Issuer ("Common Stock"). The 125,619 RSUs reported on this Form 4 will vest ratably in three annual installments beginning on March 5, 2025.
F2	On October 16, 2023, the Issuer affected a reverse stock split at an exchange ratio of 1:28.5714286.
F3	Represents an award of performance units representing a contingent right to receive one share of Common Stock per performance unit. Between 0% and 200% of the target number of performance units granted, which were granted under the LTIP, are eligible to vest during a three-year performance period beginning on January 1, 2024 and ending on December 31, 2026 based on continued employment and the Issuer's relative total shareholder return in comparison to the total shareholder return performance among the Performance Peer Group (as defined in the award agreement).