Form 4: Michael Morrisett Reports Empire Petroleum Ownership Change

Michael R. Morrisett, President & CEO and Director of Empire Petroleum Corp., reported a change in beneficial ownership of common stock.

Summary

• Michael R. Morrisett, who holds positions as Director, President & CEO of Empire Petroleum Corp., has filed a Form 4 statement detailing a change in his beneficial ownership of the company's common stock.
• The transaction, dated July 2, 2026, involved the acquisition of 16,609 shares of common stock for no consideration.
• This acquisition was part of an in-kind distribution from a fund to its investors, including Mr. Morrisett.
• Following this transaction, Mr. Morrisett beneficially owns a total of 362,697 shares of Empire Petroleum Corp. common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a standard disclosure of an insider's share acquisition through a fund distribution rather than a new investment or sale.

Positives

• Increase in direct beneficial ownership of common stock by a key executive and director.
• Acquisition of shares for no consideration, indicating a favorable distribution event.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

Management Comments

• Explanation of Response 1: A fund made an in-kind distribution of shares of the Issuer to certain of its investors, including the reporting person, for no consideration.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions, providing transparency into the holdings of company executives and directors. This specific filing indicates a non-cash acquisition of shares by a key insider.

Stakeholder Impact

• Shareholders: Increased transparency into insider holdings, with a key executive and director increasing their direct beneficial ownership.

Key Dates

Keywords

Form 4, Beneficial Ownership, Empire Petroleum Corp., Michael R. Morrisett, Common Stock, Insider Trading, SEC Filing