Form 4: Director Steven Gray Boosts INR Stake with 50,000 Shares

Infinity Natural Resources Director Steven D. Gray acquired 50,000 shares of Class A Common Stock through a pre-arranged trading plan.

Summary

• Steven D. Gray, a Director of Infinity Natural Resources, Inc. (INR), acquired a total of 50,000 shares of Class A Common Stock.
• The acquisitions occurred over three consecutive days in August 2025, executed pursuant to a Rule 10b5-1(c) trading plan.
• On August 20, 2025, 12,902 shares were purchased at a weighted average price of $13.645, with individual transaction prices ranging from $13.34 to $13.79.
• On August 21, 2025, 20,252 shares were purchased at a weighted average price of $13.749, with individual transaction prices ranging from $13.64 to $13.95.
• On August 22, 2025, 16,846 shares were purchased at a weighted average price of $13.955, with individual transaction prices ranging from $13.85 to $14.12.
• These transactions were made indirectly through the SD Gray Family Partnership LP, which Mr. Gray controls.
• Following these transactions, Mr. Gray indirectly beneficially owns 50,000 shares through the partnership and directly owns 15,000 shares of Class A Common Stock.

Sentiment

Score: 8

Explanation: The significant insider buying by a director indicates strong confidence in the company's valuation and future prospects, which is a highly positive signal for investors.

Positives

• A director increasing their stake in the company signals strong confidence in its future prospects and current valuation.
• The significant purchase of 50,000 shares demonstrates a substantial financial commitment from insider Steven D. Gray.
• The purchases were made at varying price points between $13.34 and $14.12, indicating a belief in value at these levels.

Management Comments

• The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
• The Reporting Person exercises 100% control over SD Gray Family Partnership LP ("Gray Family Partnership"). Gray Family Partnership is managed by its general partner, SD Gray Management Co., of which the Reporting Person is the chief executive. By virtue of the relationship, the Reporting Person may be deemed to have or share beneficial ownership of the securities held of record by Gray Family Partnership, but the Reporting Person disclaims any beneficial ownership of the reported securities other than to the extent of any pecuniary interest he may have therein, directly or indirectly.

Industry Context

Insider buying, particularly by a director, is generally viewed as a positive signal across industries, suggesting that the insider believes the company's stock is undervalued or anticipates positive future developments. This type of transaction often indicates strong alignment between management's interests and shareholder value.

Corporate Governance

Related Party Transactions

• The shares were acquired indirectly through SD Gray Family Partnership LP, an entity controlled by the reporting person, Steven D. Gray.

Stakeholder Impact

• Shareholders may view the director's increased stake as a strong positive signal, potentially boosting investor confidence and share price.
• Management and employees might perceive this as a sign of leadership's commitment and belief in the company's long-term success.

Next Steps

• The Reporting Person undertakes to provide detailed transaction information upon request to the Issuer, security holders, or the SEC.

Key Dates

Recommendation

The substantial insider buying by a director, Steven D. Gray, suggests strong confidence in the company's future and potential undervaluation at current prices. This is generally a bullish signal for investors, indicating that those closest to the company see significant upside.

Keywords

Infinity Natural Resources, INR, Steven D. Gray, Insider Buying, Form 4, Director Stock Purchase, Equity Acquisition, Class A Common Stock, 10b5-1 plan