STEPHENS TRACY B 4

What Happened

• Tracy B. Stephens, a director of Epsilon Energy Ltd. (EPSN), was granted 13,598 shares of common stock represented by time-based restricted stock units (RSUs) on 2026-01-22. The reported acquisition price was $0.00 (award/grant), so no cash was paid; the grant was filed on 2026-01-23.
• This is a compensation award (code A) rather than a market purchase or sale. The RSUs vest evenly over three years with vesting dates 12/31/26, 12/31/27, and 12/31/28.

Key Details

• Transaction date: 2026-01-22; filing date: 2026-01-23 (timely filing).
• Transaction type/code: Award/Grant (A); shares granted: 13,598; acquisition price: $0.00.
• Vesting: Time-based RSUs vest equally on 12/31/26, 12/31/27, and 12/31/28 (see footnote F1).
• Shares owned after transaction: not specified in the summary provided; consult the full Form 4 for total holdings.
• No 10b5-1 plan, tax-withholding sale, or option exercise noted in the provided details.

Context

• RSU grants are a common form of director compensation intended to align interests and encourage continued service; they are not direct purchases and do not by themselves signal a buy or sell intent.
• When RSUs vest, shares are typically issued (which can be dilutive); the economic value to the insider depends on the market price at each vesting date. For retail investors, such awards are informational about compensation and alignment but should be considered alongside other insider trades and company fundamentals.