Form 4: Empire Petroleum Director and 10% Owner Increases Stake with Significant Stock Purchase

Phil E. Mulacek, a Director and 10% owner of Empire Petroleum Corp (EP), has purchased an additional 36,917 shares of common stock, signaling increased confidence in the company.

Summary

• Phil E. Mulacek, who serves as both a Director and a 10% owner of Empire Petroleum Corp (EP), acquired 36,917 shares of the company's common stock.
• The transaction took place on May 23, 2025, with shares purchased at a price of $4.05 per share.
• Following this acquisition, Mr. Mulacek directly holds 5,309,896 shares of common stock.
• His indirect beneficial ownership includes 817,262 shares through Petroleum Independent & Exploration LLC, 526,300 shares through Big Red Revocable Trust, 485,202 shares through Five Sterling LP, and 42,833 shares through his spouse.
• In total, Phil E. Mulacek's beneficial ownership in Empire Petroleum Corp now amounts to 7,181,493 shares.

Sentiment

Score: 8

Explanation: The purchase of additional shares by a director and 10% owner is a strong positive signal, indicating confidence in the company's prospects and current valuation.

Positives

• A key insider, Phil E. Mulacek, who holds significant roles as both a Director and a 10% owner, increased his direct stake in Empire Petroleum Corp by purchasing 36,917 shares.
• The purchase at $4.05 per share demonstrates management's confidence in the company's current valuation and future prospects.
• This transaction further aligns the interests of a major insider with those of other shareholders, as his total beneficial ownership now stands at 7,181,493 shares.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Indirect beneficial ownership of 817,262 common shares through Petroleum Independent & Exploration LLC.
• Indirect beneficial ownership of 526,300 common shares through Big Red Revocable Trust.
• Indirect beneficial ownership of 485,202 common shares through Five Sterling LP.
• Indirect beneficial ownership of 42,833 common shares through spouse.

Stakeholder Impact

• Shareholders may view this insider purchase as a positive indicator of management's belief in the company's future, potentially increasing investor confidence.

Key Dates

Recommendation

Keywords

Empire Petroleum Corp, EP, Phil E. Mulacek, insider purchase, stock acquisition, beneficial ownership, Form 4, SEC filing, director, 10% owner