MARK T. BEHRMAN - 28 Mar 2025 Form 4 Insider Report for PHX MINERALS INC. (PHX)

Role: Director
Signature: /s/ Mark T. Behrman
Issuer symbol: PHX
Transactions as of: 28 Mar 2025
Net transactions value: +$27,311
Form type: 4
Filing time: 01 Apr 2025, 15:39:05 UTC
Previous filing: 28 Jan 2025
Next filing: 23 Jun 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PHX	Common Stock	Award	$6,060	+1,515	+0.44%	$4.00	343,258	28 Mar 2025	Direct	F1
transaction	PHX	Common Stock	Award	$21,251	+5,380	+1.6%	$3.95	348,638	31 Mar 2025	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents Deferred Stock Units credited to the reporting person's account as a result of the reinvestment of dividends on the Deferred Stock Units previously credited to the reporting person's account pursuant to the issuer's Deferred Compensation Plan for Non-Employee Directors (the "Director Deferred Compensation Plan'). Each Deferred Stock Unit is the economic equivalent of one share of common stock of the issuer. The Deferred Stock Units become payable solely in common stock upon the reporting person's termination of service as a director or death or upon the effectiveness of a change of control of the issuer.
F2	Represents Deferred Stock Units credited to the reporting person's account in lieu of cash for director's fees pursuant to the Director Deferred Compensation Plan.

Content

Represents Deferred Stock Units credited to the reporting person's account as a result of the reinvestment of dividends on the Deferred Stock Units previously credited to the reporting person's account pursuant to the issuer's Deferred Compensation Plan for Non-Employee Directors (the "Director Deferred Compensation Plan'). Each Deferred Stock Unit is the economic equivalent of one share of common stock of the issuer. The Deferred Stock Units become payable solely in common stock upon the reporting person's termination of service as a director or death or upon the effectiveness of a change of control of the issuer.

Represents Deferred Stock Units credited to the reporting person's account in lieu of cash for director's fees pursuant to the Director Deferred Compensation Plan.