Thomas W. Pritchard - 26 Apr 2022 Form 4 Insider Report for EMPIRE PETROLEUM CORP (EP)

Role: Chief Executive Officer, Director
Signature: /s/ Thomas W. Pritchard
Issuer symbol: EP
Transactions as of: 26 Apr 2022
Transactions value $: $310,200
Form type: 4
Filing time: 28 Apr 2022, 18:16:05 UTC
Previous filing: 02 Mar 2022
Next filing: 27 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EP	Common Stock	Options Exercise	$310,200	+235,000	+794%	$1.32^*	264,583	26 Apr 2022	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	EP	Employee Stock Option (Right to Buy)	Options Exercise	$0	-235,000	-39.9%	$0.000000	354,100	26 Apr 2022	Common Stock	235,000	$1.32	Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	As adjusted to give effect to Empire's 1-for-4 reverse common stock split which became effective on March 7, 2022 ("Reverse Stock Split").
F2	Includes 19,583 shares previously held through Pritchard Energy Advisors, LLC which were distributed to the reporting person and are now owned directly.
F3	The option vested in three installments as follows: 312,500 on April 3, 2019; 156,250 on April 3, 2020; and 156,250 on April 3, 2021 (as adjusted for the Reverse Stock Split).