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

Phil E. Mulacek, a Director and 10% Owner of Empire Petroleum Corp (EP), has significantly increased his direct beneficial ownership through a series of open market stock purchases in May 2025.

Summary

• Phil E. Mulacek, a Director and 10% Owner of Empire Petroleum Corp (EP), reported multiple purchases of common stock.
• On May 19, 2025, Mulacek acquired 4,482 shares at a weighted average price of $3.9987 per share, increasing his direct beneficial ownership to 5,231,662 shares.
• On May 20, 2025, an additional 18,616 shares were purchased at a weighted average price of $4.0436 per share, bringing direct ownership to 5,250,278 shares.
• On May 21, 2025, Mulacek bought 6,384 shares at $4.05 per share, raising direct ownership to 5,256,662 shares.
• On May 22, 2025, a further 16,317 shares were acquired at $4.05 per share, resulting in a direct beneficial ownership of 5,272,979 shares.
• The total number of shares purchased across these four transactions is 45,799.
• Mulacek also holds indirect beneficial ownership of 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.
• The total beneficial ownership (direct and indirect) after these transactions is 7,144,576 shares.

Sentiment

Score: 8

Explanation: The sentiment is highly positive due to significant insider buying by a director and 10% owner, indicating strong confidence in the company's value and future performance.

Positives

• A Director and 10% Owner, Phil E. Mulacek, has increased his direct stake in Empire Petroleum Corp, signaling confidence in the company's future prospects.
• The purchases were made at varying price points, indicating a sustained buying interest from a key insider.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing, a Form 4, reports an insider transaction and does not provide broader industry context. However, insider buying, especially from a director and significant owner, can be interpreted as a positive signal regarding the company's internal assessment of its value within the energy sector.

Related Party Transactions

• Phil E. Mulacek holds indirect beneficial ownership through entities such as Petroleum Independent & Exploration LLC (817,262 shares), Big Red Revocable Trust (526,300 shares), Five Sterling LP (485,202 shares), and through his spouse (42,833 shares).

Stakeholder Impact

• Shareholders may view the insider buying as a positive indicator of management's belief in the company's value, potentially leading to increased investor confidence and positive share price movement.

Key Dates

Recommendation

Keywords

Empire Petroleum, EP, insider buying, Form 4, stock purchase, director, 10% owner, beneficial ownership, equity securities