Gray Zarrell Thomas 4

What Happened
Gray Zarrell Thomas, a director of Hallador Energy Co. (HNRG), received an award of 6,047 restricted stock units (RSUs) on May 28, 2026. The grant is a derivative award (no shares were delivered at grant and no purchase or sale occurred). No per-share price or immediate cash value was reported in the filing.

Key Details

• Transaction date: May 28, 2026; Form 4 filed June 1, 2026 (filed timely).
• Security: Restricted Stock Units (RSUs), 6,047 units (derivative award, code A).
• Vesting: Units fully vest May 27, 2027, contingent on continued service (see footnotes).
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: F1 — Each RSU represents the right to one share of common stock upon vesting/delivery. F2 — Vesting contingent on continued service through May 27, 2027.

Context
RSU grants are compensation awards rather than open-market purchases or sales; they do not reflect an immediate buy or sell decision. Shares will only be issued if and when the RSUs vest, so this grant signals executive/board compensation alignment but not an immediate insider purchase. The filing appears timely under Form 4 reporting rules.