Johnson Alfreddie 4

What Happened
Johnson Alfreddie, a reported 10% owner of Barrel Energy, converted 250,000 shares of Series A Preferred Stock into 250,000,000 shares of common stock on July 2, 2026. The conversion was at a 1:1,000 ratio (one preferred → 1,000 common) and involved no cash—shares were exchanged. The Form 4 shows the acquisition of 250,000,000 common shares (priced $0.00 for conversion) and the corresponding disposition of 250,000 derivative preferred shares.

Key Details

• Transaction date: July 2, 2026; Form 4 filed July 6, 2026. Filing appears timely.
• Securities: Conversion of Series A Preferred into common stock (transaction code C).
• Shares acquired: 250,000,000 common shares at $0.00 (conversion).
• Shares disposed: 250,000 Series A Preferred (derivative security) as part of the conversion.
• Holdings after transaction: Alfreddie directly owns 250,000,000 common shares and 1,000,000 Series A Preferred shares; remaining preferred are convertible into an aggregate of 1,000,000,000 common shares (per filing).
• Notable footnotes: Series A preferred is immediately convertible, carries 1,000 votes per preferred share, and no cash was paid in the exchange.

Context
This was a conversion of preferred stock into common stock—not an open-market buy or sale—so it reflects a change in security form rather than a cash purchase or sale. As a 10% owner (not necessarily an executive trade), this is an ownership structure change that may affect outstanding common share count and potential voting dynamics due to the preferred’s high vote weight. No dollar value for the transaction was reported because conversion occurred without cash consideration.