Matschke Mason H. 4
4 · EMPIRE PETROLEUM CORP · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Empire Petroleum (EP) Director Mason H. Matschke Exercises Rights, Buys 5,402 Shares
What Happened
Mason H. Matschke, a director of Empire Petroleum Corp. (EP), participated in the company’s rights offering. On 2026-03-31 he acquired 5,402 shares of common stock at $2.99 per share for a total cash outlay of $16,152. The Form 4 also reports the exercise/conversion of 40,864 derivative rights (transaction code M) with no cash consideration reported for that line.
Key Details
- Transaction date: 2026-03-31 (reported on Form 4 filed 2026-04-02)
- Purchase: 5,402 shares at $2.99 each = $16,152 (cash paid)
- Derivative conversion: 40,864 shares reported as disposed under “exercise/conversion of derivative” at $0 cash consideration (see footnotes)
- Transaction code: M = exercise or conversion of a derivative security (rights offering)
- Shares owned after transaction: not specified in the excerpt provided
- Filing timeliness: Form 4 filed 2026-04-02 for a 2026-03-31 transaction — appears to be filed within the standard two-business-day window
- Notable footnotes: transactions were part of the Issuer’s Rights Offering; $2.99 is the exercise price; includes shares acquired under basic and over‑subscription rights (see issuer prospectus supplements dated Feb 2 and Feb 25, 2026).
Context
This was participation in a company rights offering (subscription/over-subscription rights), not an open-market trade. The 5,402-share line reflects a cash purchase at $2.99 per share; the 40,864-share line reflects conversion/exercise activity tied to the rights offering (reported as a derivative exercise with no cash amount on that line). Rights-offering activity is routine for raising equity and should be interpreted as an execution of shareholder subscription rights rather than a typical buy/sell signal.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-31$2.99/sh+5,402$16,152→ 418,748 total - Exercise/Conversion
Subscription Rights (right to buy)
[F2][F3]2026-03-31−40,864→ 0 totalExercise: $2.99From: 2026-02-02Exp: 2026-03-18→ Common Stock (5,402 underlying)
- 382,904(indirect: By Trust)
Common Stock
Footnotes (3)
- [F1]Represents shares of the Issuer's common stock purchased by the reporting person following the exercise of subscription rights, including over-subscription rights, pursuant to the Issuer's rights offering to holders of common stock, as described in the Issuer's prospectus supplement dated February 2, 2026, as supplemented by the Issuer's prospectus supplement dated February 25, 2026 (the "Rights Offering").
- [F2]Represents the exercise price of $2.99 per whole share of common stock in the Rights Offering.
- [F3]Each holder of common stock of record as of February 2, 2026 received one right for each share of common stock, and each right carried with it a basic subscription right, which entitled the holder to purchase 0.095 of a share of common stock, and an over-subscription right, which entitled holders that exercised their basic subscription rights in full to subscribe for additional shares of common stock that were not purchased by other stockholders pursuant to their basic subscription rights, subject to proration. Includes shares purchased pursuant to the exercise of over-subscription rights in connection with the Rights Offering.