Form 4: Empire Petroleum Director Boosts Stake

Empire Petroleum Corp. Director and 10% owner Phil E. Mulacek increased his direct beneficial ownership of common stock through two open market purchases in late November 2025.

Summary

• Phil E. Mulacek, a Director and 10% owner of Empire Petroleum Corp. (EP), reported changes in his beneficial ownership of common stock.
• On November 26, 2025, Mulacek acquired 1,316 shares of common stock at a price of $3 per share, increasing his direct beneficial ownership to 6,152,515 shares.
• On November 28, 2025, Mulacek acquired an additional 1,743 shares of common stock at a price of $3 per share, bringing his total direct beneficial ownership to 6,154,258 shares.
• Mulacek also holds indirect beneficial ownership through Petroleum Independent & Exploration LLC (817,262 shares), Big Red Revocable Trust (526,300 shares), Five Sterling LP (485,202 shares), and his spouse (42,833 shares).

Sentiment

Score: 7

Explanation: The Director and 10% owner, Phil E. Mulacek, increased his direct stake in the company, which typically signals confidence in the company's future performance and current valuation. The amount purchased, while not exceptionally large, is a positive indicator.

Positives

• A Director and 10% owner, Phil E. Mulacek, increased his direct beneficial ownership of Empire Petroleum Corp. common stock, signaling confidence in the company.
• The purchases, totaling 3,059 shares, were made at a price of $3 per share, indicating management's belief in the company's valuation.
• Increased insider ownership can be interpreted as a positive signal regarding the company's future prospects.

Future Outlook

This Form 4 filing does not provide forward-looking statements or guidance.

Industry Context

This Form 4 filing, detailing insider stock purchases, does not provide information related to broader industry trends or competitors.

Related Party Transactions

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

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive signal of management's confidence in the company's prospects and valuation.

Key Dates

Recommendation

The purchases by a Director and 10% owner, Phil E. Mulacek, signal insider confidence in Empire Petroleum Corp. at the current share price of $3. While the total number of shares acquired (3,059) is not massive, the action itself is a positive indicator. Investors should consider this as a sign of internal belief in the company's value, but further analysis of the company's fundamentals and broader market conditions would be necessary for a stronger 'buy' recommendation.

Keywords

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