Erik Thoresen - 26 Mar 2025 Form 4 Insider Report for Prairie Operating Co. (PROP)

Role: Director
Signature: /s/ Edward Kovalik, as attorney-in-fact for Erik Thoresen
Issuer symbol: PROP
Transactions as of: 26 Mar 2025
Net transactions value: +$3,000
Form type: 4
Filing time: 28 Mar 2025, 17:00:14 UTC
Previous filing: 25 Jun 2024
Next filing: 23 May 2025
SEC: View on sec.gov

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	Stock Option (right to buy)	Purchase	$3,000	+300,000		$0.0100^*	300,000	26 Mar 2025	Common Stock	300,000	$0.2500	See Footnote	F1, F2

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

Explanation of Responses:

Id	Content
F1	The non-compensatory option grant was made pursuant to a Non-Compensatory Option Agreement entered into on August 30, 2022, pursuant to which the options become exercisable upon the achievement of certain production milestones. The achievement of all of the production milestones with respect to these options occurred on March 26, 2025, resulting in these options becoming fully exercisable on such date.
F2	The options are held by Blackstem Forest, LLC, of which the Reporting Person is the manager.

Content

The non-compensatory option grant was made pursuant to a Non-Compensatory Option Agreement entered into on August 30, 2022, pursuant to which the options become exercisable upon the achievement of certain production milestones. The achievement of all of the production milestones with respect to these options occurred on March 26, 2025, resulting in these options becoming fully exercisable on such date.

The options are held by Blackstem Forest, LLC, of which the Reporting Person is the manager.