Energy Evolution Master Fund, Ltd. 4

What Happened

• Energy Evolution Master Fund, Ltd., a 10% owner of Empire Petroleum Corp (EP), reported a disposition of 941,332 shares on 2026-07-02. The transaction is recorded at $0.00 per share with a total proceeds value of $0. According to the filing footnote, this was an in‑kind distribution of shares to certain investors (no cash changed hands).

Key Details

• Transaction date: 2026-07-02 (reported on Form 4 filed 2026-07-07)
• Transaction code: J (other acquisition or disposition); price reported: $0.00; total: $0
• Shares disposed: 941,332
• Shares owned after transaction: Not specified in the Form 4 filing
• Footnote: The reporting person made an in‑kind distribution of these shares to certain of its investors for no consideration
• Insider type: 10% institutional owner (Energy Evolution Master Fund, Ltd.), not an executive officer or director

Context

• An in‑kind distribution transfers shares to fund investors rather than selling them in the market; it is not a cash sale and does not necessarily indicate the fund liquidated its position for proceeds.
• As a 10% owner and institutional investor, this action reflects a fund-level allocation/transfer and should be interpreted differently from an officer or director sale.