LUBAR DAVID J 4
4 · HALLADOR ENERGY CO · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
Hallador Energy (HNRG) 10% Owner David J. Lubar Receives Award
What Happened
David J. Lubar, reported as a 10% owner of Hallador Energy Co. (HNRG), received an award of 6,316 restricted stock units (RSUs) on May 28, 2026. The filing lists this as an "A" (award/grant) derivative transaction; no purchase price or cash value is provided in the Form 4. Per the filing footnotes, each RSU represents a contingent right to one share of Hallador common stock and the award was issued as part of his annual equity compensation for board service.
Key Details
- Transaction date: 2026-05-28 (Form 4 filed 2026-06-01 — appears to be filed late relative to the usual 2-business-day rule).
- Instrument: 6,316 Restricted Stock Units (derivative award). Price: N/A (award).
- Vesting/delivery: Each RSU converts to one share; units fully vest May 27, 2027, subject to continued service and plan/award terms (per footnotes).
- Shares owned after transaction: Not specified in the provided filing.
- Notable footnotes:
- F4–F6: RSUs = one share each; delivery and vesting governed by the Second Amended and Restated 2008 RSU Plan; vesting May 27, 2027; awarded as annual board equity compensation.
- F1–F3: Reported ownership is through Lubar-managed funds (Lubar Equity Fund LLC, Lubar Opportunity Fund I, SM Opportunity Fund LLC); Lubar & Co. is investment manager and David Lubar may be deemed to beneficially own these shares but disclaims ownership except for pecuniary interest.
Context
This was an equity award (compensation) rather than an open-market purchase or sale, so it reflects board compensation mechanics more than a trading decision. As a reported 10% owner through investment vehicles managed by Lubar & Co., these holdings and the award are tied to fund ownership and board service, not necessarily a personal trading signal.
Insider Transaction Report
- Award
Restricted Stock Units
[F4][F5][F6]2026-05-28+6,316→ 6,316 total→ Common Stock (6,316 underlying)
- 2,851
Common Stock
- 2,788,685(indirect: By LLC)
Common Stock
[F1] - 2,391,571(indirect: Lubar Opportunity Fund, I (LOFI))
Common Stock
[F2] - 271,763(indirect: By LLC)
Common Stock
[F3]
Footnotes (6)
- [F1]Shares are owned by the Lubar Equity Fund LLC (LEF). Lubar & Co. serves as investment manager over, and exercises in its sole discretion the entire voting and dispositive power with respect to all shares of the Issuer held by LEF. Mr. David J. Lubar serves as the Chief Executive Officer of Lubar & Co., and as a result, may be deemed to beneficially own these shares. Mr. Lubar disclaims beneficial ownership in the shares owned by LEF, except to the extent of his respective pecuniary interest therein.
- [F2]Shares are owned by the Lubar Opportunity Fund, I (LOFI). Lubar & Co. serves as investment manager over, and exercises in its sole discretion the entire voting and dispositive power with respect to all shares of the Issuer held LOFI. Mr. David J. Lubar serves as the Chief Executive Officer of Lubar & Co., and as a result, may be deemed to beneficially own these shares. Mr. Lubar disclaims beneficial ownership in the shares owned by LOFI, except to the extent of his respective pecuniary interest therein.
- [F3]Shares are owned by the SM Opportunity Fund, LLC (SMOF), Lubar & Co. serves as investment manager over, and exercises in its sole discretion the entire voting and dispositive power with respect to all shares of the Issuer held by SMOF. Mr. David J. Lubar serves as the Chief Executive Officer of Lubar & Co., and as a result, may be deemed to beneficially own these shares. Mr. Lubar disclaims beneficial ownership in the shares owned by SMOF, except to the extent of his respective pecuniary interest therein.
- [F4]Each Restricted Stock Unit represents a contingent right to receive one share of Hallador Energy Common Stock. Vested shares will be delivered to the reporting person pursuant to the terms of the Second Amended and Restated 2008 Restricted Stock Unit Plan.
- [F5]These shares were issued to the reporting person as consideration for his total annual equity compensation for service on the Issuer's board.
- [F6]The Units shall fully vest May 27, 2027, subject in each case subject to Participant's continued Service through the applicable vesting date, subject to the terms and conditions set forth in the Second Amended and Restated 2008 Restricted Stock Unit Plan and Award Agreement.