Energy Evolution Master Fund, Ltd. - 31 Mar 2026 Form 4 Insider Report for EMPIRE PETROLEUM CORP (EP)

Reporting relationship: 10%+ Owner
Issuer ticker: EP
Reported as of: 31 Mar 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 02 Apr 2026, 16:26:29 UTC
Prior SEC filing: 07 Jan 2026
Next SEC filing: 07 Jul 2026
Source filing: View source filing
Reporting owner signature: /s/ Energy Evolution Master Fund, Ltd., by Sterling Mulacek, Director

Key filing fact

Energy Evolution Master Fund, Ltd. filed Form 4 for EMPIRE PETROLEUM CORP (EP) on 02 Apr 2026.

Key facts

This page summarizes Energy Evolution Master Fund, Ltd.'s Form 4 filing for EMPIRE PETROLEUM CORP (EP).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 02 Apr 2026, 16:26.

Change

Previous filing in this sequence was filed on 07 Jan 2026.
Current net transaction value: $0.

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 (1)

CIK 0001865291 Primary reporting owner

Energy Evolution Master Fund, Ltd.

Relationship: 10%+ Owner
Address: 25025 I-45 NORTH, SUITE 420, THE WOODLANDS
Signature: /s/ Energy Evolution Master Fund, Ltd., by Sterling Mulacek, Director
Signature date: 02 Apr 2026

Reported non-derivative transactions

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

EP transaction

Common Stock

Exercise of in-the-money or at-the-money derivative security

Transaction value
Shares: +1,855,757
Change %: +16%
Price: $2.99^*
Shares after: 13,151,285
Date: 31 Mar 2026
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

EP transaction Derivative

Subscription Rights (right to buy)

Exercise of in-the-money or at-the-money derivative security

Transaction value
Shares: -11,295,528
Change %
Price: $0.000000^*
Shares after: $0
Date: 31 Mar 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,855,757
Exercise price: $2.99
Footnotes: F2, F3

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

Represents shares of the Issuer's common stock purchased by the reporting person following the exercise of subscription rights, including over-subscription rights, pursuant to the Issuer's rights offering to holders of common stock, as described in the Issuer's prospectus supplement dated February 2, 2026, as supplemented by the Issuer's prospectus supplement dated February 25, 2026 (the "Rights Offering").

Footnote F2

Represents the exercise price of $2.99 per whole share of common stock in the Rights Offering.

Footnote F3

Each holder of common stock of record as of February 2, 2026 received one right for each share of common stock, and each right carried with it a basic subscription right, which entitled the holder to purchase 0.095 of a share of common stock, and an over-subscription right, which entitled holders that exercised their basic subscription rights in full to subscribe for additional shares of common stock that were not purchased by other stockholders pursuant to their basic subscription rights, subject to proration. Includes shares purchased pursuant to the exercise of over-subscription rights in connection with the Rights Offering.