Pumphrey Willis Jerome Jr 4

What Happened

• Willis Pumphrey (10% owner) converted 250,000 shares of Series A Preferred Stock into 250,000,000 shares of Barrel Energy common stock on July 2, 2026. The conversion was at a 1,000:1 ratio (1 preferred = 1,000 common), was an exchange of securities, and involved no cash consideration (acquisition price $0).
• The Form 4 reports the acquisition of 250,000,000 common shares and the corresponding disposition (conversion) of 250,000 Series A preferred shares. This is a structural ownership change (conversion), not a purchase or sale in the market.

Key Details

• Transaction date: July 2, 2026; Form 4 filed July 6, 2026 (timely).
• Conversion ratio: 1 Series A preferred → 1,000 common shares.
• Shares acquired: 250,000,000 common shares at $0 per share (total cash value $0).
• Shares disposed: 250,000 Series A preferred (converted).
• Holdings after transaction: 250,000,000 common shares and 1,000,000 Series A preferred shares remaining.
• Footnotes: Series A preferred is immediately convertible with no stated expiration (F3). Remaining preferred can convert into an aggregate of 1,000,000,000 common shares, subject to the Series A designation as amended (F2). Each remaining Series A preferred share carries 1,000 votes (F4).

Context

• This is a conversion by a 10% owner (ownership-structure action), not a typical open-market buy or sale. Conversions increase the company’s common share count and can dilute existing common holders; no cash changed hands in this transaction.