GRAY STEVEN D 4

What Happened
Steven D. Gray, a director of Infinity Natural Resources, purchased 25,000 shares of the company's Class A common stock in open-market transactions on June 12, 2026. The filing reports a weighted average price of $12.81 per share for a total reported purchase value of $320,175. This was a direct purchase (transaction code P), which is typically treated as a bullish indicator versus a sale.

Key Details

• Transaction date: 2026-06-12 (filed the same day).
• Reported weighted average price: $12.81 per share; actual trades ranged from $12.53 to $13.09 (footnote F1).
• Total reported acquisition value: $320,175.
• Shares owned after the transaction: not specified in this Form 4.
• Ownership notes: shares are held of record by The Gray Management Trust and Gray Family Partnership; Gray is trustee/beneficiary and has management/control roles (footnotes F2 and F3). He disclaims beneficial ownership except to the extent of any pecuniary interest.
• Filing timeliness: reported on the same date as the transaction (no late filing indicated).

Context
This was a straightforward open-market purchase (multiple executions at slightly varying prices). The footnotes clarify the weighted-average reporting and the reporting person’s relationships to entities that hold the securities; they do not provide additional trading conditions (e.g., 10b5-1 plan) or indicate sales accompanying an option exercise.