10/30/2026 | Press release | Distributed by Public on 10/30/2026 16:24
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Employee Stock Option (Right to Buy) | $0.5349 | 07/02/2025(1) | A | 300,000 | 07/02/2025(4) | 07/02/2035 | Common Stock | 300,000 | $ 0 | 300,000 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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GRAY EVERETT WILLARD II 200 NORTH LORAINE STREET #1324 MIDLAND, TX 79701 |
President, Permian Basin | |||
| Lisa Kish, Attorney-in-Fact for Everett Willard Gray II | 10/30/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | The transaction reported herein was not timely reported due to an administrative oversight. |
| (2) | Represents restricted stock units ("RSUs") granted to the Reporting Person that vest in equal installments on the first business day of each calendar month following the grant date over a period of four (4) years, subject to the Reporting Person's continued employment with the Issuer through each applicable vesting date. The vested RSUs will be paid on or as promptly as practicable following the vesting date (but in no event later than March 15 of the calendar year following the calendar year in which the RSUs become vested) in the form of the Issuer's common stock equal to the number of vested RSUs. |
| (3) | Reporting Person is the Managing Partner of Pecos Slope Holdings, LLC. |
| (4) | The stock option award was fully vested on the grant date. |
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Remarks: The Reporting Person ceased to be subject to Section 16 effective July 1, 2026. Each transaction reported on this Form 4 occurred prior to that date, while the Reporting Person served as the Issuer's Chairman and Chief Executive Officer. Exhibit List: Exhibit 24 - Power of Attorney |
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