Joshua L. Batchelor - 02 Mar 2026 Form 4 Insider Report for US ENERGY CORP (USEG)

Reporting relationship: Member of 10% owner group, 10%+ Owner
Issuer ticker: USEG
Reported as of: 02 Mar 2026
Net transaction value: -$907,087
SEC form: 4
Accepted by SEC: 04 Mar 2026, 19:17:02 UTC
Prior SEC filing: 12 Feb 2026
Source filing: View source filing
Reporting owner signature: /s/ Joshua L. Batchelor

Key filing fact

Joshua L. Batchelor filed Form 4 for US ENERGY CORP (USEG) on 04 Mar 2026.

Key facts

This page summarizes Joshua L. Batchelor's Form 4 filing for US ENERGY CORP (USEG).
8 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 04 Mar 2026, 19:17.

Change

Previous filing in this sequence was filed on 12 Feb 2026.
Current net transaction value: -$907,087.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (7)

CIK 0001903548 Primary reporting owner

Batchelor Joshua Lane

Relationship: Member of 10% owner group, 10%+ Owner
Address: 2121 SAGE ROAD, SUITE 325, HOUSTON
Signature: /s/ Joshua L. Batchelor
Signature date: 04 Mar 2026

CIK 0001903543

Sage Road Capital, LLC

Relationship: Member of 10% owner group, 10%+ Owner
Address: 2121 SAGE ROAD, SUITE 325, HOUSTON
Signature: /s/ Joshua L. Batchelor, Managing Partner of Sage Road Capital, LLC
Signature date: 04 Mar 2026

CIK 0001903556

Banner Oil & Gas, LLC

Relationship: Member of 10% owner group
Address: 2121 SAGE ROAD, SUITE 325, HOUSTON
Signature: /s/ Joshua L. Batchelor, Manager of Banner Oil & Gas, LLC
Signature date: 04 Mar 2026

CIK 0001903542

Woodford Petroleum, LLC

Relationship: Member of 10% owner group
Address: 2121 SAGE ROAD, SUITE 325, HOUSTON
Signature: /s/ Joshua L. Batchelor, Manager of Woodford Petroleum, LLC
Signature date: 04 Mar 2026

CIK 0001904963

Stamets Benjamin Andrew

Relationship: Member of 10% owner group, 10%+ Owner
Address: 2121 SAGE ROAD, SUITE 325, HOUSTON
Signature: /s/ Benjamin A. Stamets
Signature date: 04 Mar 2026

CIK 0001696210

Sage Road Energy II, LP

Relationship: Member of 10% owner group
Address: 2121 SAGE ROAD, SUITE 325, HOUSTON
Signature: /s/ Joshua L. Batchelor, Manager of Sage Road Energy II, LP
Signature date: 04 Mar 2026

CIK 0002057471

SRC Management Company, LP

Relationship: Member of 10% owner group
Address: 2121 SAGE ROAD, SUITE 325, HOUSTON
Signature: /s/ Joshua L. Batchelor, SRC Management Company LP
Signature date: 04 Mar 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

USEG transaction

Common Stock

Sale

Transaction value: $13,011
Shares: -10,400
Change %: -11%
Price: $1.25
Shares after: 84,663
Date: 02 Mar 2026
Ownership: Direct
Footnotes: F1, F2, F3

USEG transaction

Common Stock

Sale

Transaction value: $447,268
Shares: -357,500
Change %: -11%
Price: $1.25
Shares after: 2,900,642
Date: 02 Mar 2026
Ownership: Direct
Footnotes: F1, F2, F4

USEG transaction

Common Stock

Sale

Transaction value: $33,692
Shares: -26,930
Change %: -11%
Price: $1.25
Shares after: 218,445
Date: 02 Mar 2026
Ownership: Direct
Footnotes: F1, F2, F5

USEG transaction

Common Stock

Sale

Transaction value: $50,044
Shares: -40,000
Change %: -11%
Price: $1.25
Shares after: 322,543
Date: 02 Mar 2026
Ownership: Direct
Footnotes: F1, F2, F6

USEG transaction

Common Stock

Sale

Transaction value: $8,714
Shares: -6,364
Change %: -7.5%
Price: $1.37
Shares after: 78,299
Date: 03 Mar 2026
Ownership: Direct
Footnotes: F1, F2, F3

USEG transaction

Common Stock

Sale

Transaction value: $298,486
Shares: -218,000
Change %: -7.5%
Price: $1.37
Shares after: 2,682,642
Date: 03 Mar 2026
Ownership: Direct
Footnotes: F1, F2, F4

USEG transaction

Common Stock

Sale

Transaction value: $22,511
Shares: -16,441
Change %: -7.5%
Price: $1.37
Shares after: 202,004
Date: 03 Mar 2026
Ownership: Direct
Footnotes: F1, F2, F5

USEG transaction

Common Stock

Sale

Transaction value: $33,361
Shares: -24,365
Change %: -7.6%
Price: $1.37
Shares after: 298,178
Date: 03 Mar 2026
Ownership: Direct
Footnotes: F1, F2, F6

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote F1

Excludes shares of common stock relating to the voting group included under "Remarks", except as described in footnotes (4), (5) and (6).

Footnote F2

The price reported in Column 4 is a weighted average price. The reporting person undertakes to provide to US Energy Corp (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

Footnote F3

Represents shares of shares of common stock, $0.01 par value per share of the Issuer (the "Common Stock"), held by SRC Management Company, LP ("SRC"). The shares held by SRC may be deemed to be beneficially owned by Sage Road Capital, LLC ("Sage Road"), which indirectly controls SRC, and by Mr. Batchelor and Mr. Stamets, due to their status as co-Managing Partners of Sage Road. Mr. Batchelor and Mr. Stamets disclaim beneficial ownership of the securities reported herein except to the extent of each of their pecuniary interest therein.

Footnote F4

Represents shares of the Common Stock held by Banner Oil & Gas, LLC ("Banner"). The shares held by Banner may be deemed to be beneficially owned by Sage Road, which indirectly controls Banner and manages certain funds which own a majority interest of Banner, and by Mr. Batchelor and Mr. Stamets, due to their status as co-Managing Partners of Sage Road. Mr. Batchelor and Mr. Stamets disclaim beneficial ownership of the securities reported herein except to the extent of each of their pecuniary interest therein.

Footnote F5

Represents shares of the Common Stock held by Woodford Petroleum, LLC ("Woodford"). The shares held by Woodford may be deemed to be beneficially owned by Sage Road, which indirectly controls Woodford and manages certain funds which own a majority interest of Woodford, and by Mr. Batchelor and Mr. Stamets, due to their status as co-Managing Partners of Sage Road. Mr. Batchelor and Mr. Stamets disclaim beneficial ownership of the securities reported herein except to the extent of each of their pecuniary interest therein.

Footnote F6

Represents shares of the Common Stock held by Sage Road Energy II, LP ("Sage Road Energy"). The shares held by Sage Road Energy may be deemed to be beneficially owned by Sage Road, which indirectly controls Sage Road Energy and manages certain funds which own a majority interest of Sage Road Energy, and by Mr. Batchelor and Mr. Stamets, due to their status as co-Managing Partners of Sage Road. Mr. Batchelor and Mr. Stamets disclaim beneficial ownership of the securities reported herein except to the extent of each of their pecuniary interest therein.

SEC remarks

By virtue of being party to an Amendment and Restated Nominating and Voting Agreement, dated as of September 16, 2022 (the "Voting Agreement"), Banner, Woodford, and Sage Road and Mr. Batchelor and Mr. Stamets, due to their control of such entities, 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 "Exchange Act"), with respect to the securities reported herein with the other parties who are bound by the Voting Agreement and their control persons, which such "group" beneficially owns, in the aggregate, more than 10% of the outstanding shares of common stock of the Issuer. In addition to Banner and Woodford, the parties to the Voting Agreement are Llano Energy LLC, which is indirectly controlled by Sage Road, but which holds no shares of the Issuer's common stock; the Issuer; Lubbock Energy Partners LLC; Synergy Offshore LLC; Banner Oil & Gas, LLC; King Oil & Gas Company, Inc.; WDM Family Partnership, LP; and Katla Energy Holdings LLC. Separately, the control persons of the other parties to the Voting Agreement may also be part of the Section 13(d) "group". 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). For a description of the Voting Agreement, see the Current Report on Form 8-K filed by the Issuer with the United States Securities and Exchange Commission on September 16, 2022.