DENNY JAMES W III 4

What Happened
Denny James W III, a director of US Energy Corp (USEG), was granted 230,000 nonqualified stock options on March 4, 2026. The Form 4 reports the award as a derivative grant (transaction code A) and shows $0.00 in the acquisition column because it is an options award rather than a purchase of shares. The options were issued as compensation for director services.

Key Details

• Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (timely filed).
• Grant: 230,000 nonqualified stock options (reported as derivative securities, code A).
• Vesting: 115,000 options vest on July 1, 2026 and 115,000 on January 2, 2027, subject to continued service (Footnote F1).
• Consideration: Issued in consideration for director services (Footnote F2).
• Shares owned after transaction: not specified in the filing.
• Filing timeliness: filed within the standard 2-business-day window.

Context
This is an equity-compensation grant to a director, not an open-market purchase or sale. Options must vest and then be exercised to convert into shares, and the filing does not show any immediate sale or exercise. Director option grants are a common form of compensation and do not by themselves indicate the director bought or sold stock.