Gen IV entity exits Battalion Oil (BATL) with 2,369,769-share stock sale

Rhea-AI Filing Summary

Gen IV Investment Opportunities, LLC, listed as a director and 10% owner of Battalion Oil, reported an open-market sale of 2,369,769 shares of Common Stock at an average price of $5.8206 per share.

Following this Form 4 transaction, Gen IV reported holding no Battalion Oil shares. Related filers LSP Generation IV, LSP Investment Advisors, and Paul Segal note they can direct voting and disposition of Gen IV’s shares but disclaim beneficial ownership beyond any pecuniary interest.

Insights

Equity ownership & governance analyst

Gen IV reports a full exit from Battalion Oil equity position.

The filing shows Gen IV Investment Opportunities, LLC executed an open‑market sale of 2,369,769 Battalion Oil common shares at $5.8206 each. This reduced Gen IV’s reported stake in the company to zero shares after the transaction.

The transaction is classified as a straightforward sale of non‑derivative common stock, with no remaining derivative positions disclosed. Affiliated entities LSP Generation IV, LSP Investment Advisors, and Paul Segal jointly filed and expressly disclaim beneficial ownership except for any pecuniary interest, clarifying that economic exposure is limited to their financial interest.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gen IV Investment Opportunities, LLC

(Last) (First) (Middle)

250 W 55TH STREET

31ST FLOOR

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BATTALION OIL CORP [ BATL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/25/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/25/2026		S		2,369,769	D	$5.8206	0	D(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Gen IV Investment Opportunities, LLC

(Last) (First) (Middle)

250 W 55TH STREET

31ST FLOOR

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

LSP Generation IV, LLC

(Last) (First) (Middle)

250 W 55TH STREET

31ST FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

LSP Investment Advisors, LLC

(Last) (First) (Middle)

250 W 55TH STREET

31ST FLOOR

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Segal Paul

(Last) (First) (Middle)

250 W 55TH STREET

31ST FLOOR

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. This Form 4 is jointly filed by Gen IV Investment Opportunities, LLC ("Gen IV"), a Delaware limited liability company, LSP Generation IV, LLC ("LSP Gen IV"), a Delaware limited liability company, LSP Investment Advisors, LLC ("LSP Advisors"), a Delaware limited liability company, and Paul Segal, President of Gen IV. LSP Gen IV, as the managing member of Gen IV, has the power to direct the affairs of Gen IV, including voting and disposing of the shares. LSP Advisors, as the investment manager of Gen IV, also has the power to direct the voting and disposition of the shares held by Gen IV. Mr. Segal as President of Gen IV, also has the power to direct the voting and disposition of the shares Held by Gen IV. For Section 16 purposes, LSP Gen IV, LSP Advisors, and Mr. Segal, disclaim beneficial ownership over the shares reported herein, except to the extent of their pecuniary interest therein.

	Gen IV Investment Opportunities, LLC By: /s/ Jeffrey Wade Name: Jeffrey Wade Title: Chief Compliance Officer	03/27/2026
	LSP Generation IV, LLC By: /s/ Jeffrey Wade Name: Jeffrey Wade Title: Chief Compliance Officer	03/27/2026
	LSP Investment Advisors, LLC By: /s/ Jeffrey Wade Name: Jeffrey Wade Title: Chief Compliance Officer and Associate General Counsel	03/27/2026
	By: /s/ Paul Segal Name: Paul Segal Title: President Gen IV Investment Opportunities, LLC	03/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Gen IV Investment Opportunities, LLC report in its Battalion Oil (BATL) Form 4?

Gen IV Investment Opportunities, LLC reported selling 2,369,769 shares of Battalion Oil common stock in an open-market transaction at an average price of $5.8206 per share. After this sale, Gen IV reported holding no remaining Battalion Oil shares.

How many Battalion Oil (BATL) shares were sold and at what price in this Form 4?

The Form 4 shows an open-market sale of 2,369,769 Battalion Oil common shares at an average price of $5.8206 per share. This single non-derivative transaction represents a complete disposition of the reported holdings by Gen IV Investment Opportunities, LLC.

Who are the reporting persons in the Battalion Oil (BATL) Form 4 filing?

The reporting persons are Gen IV Investment Opportunities, LLC, LSP Generation IV, LLC, LSP Investment Advisors, LLC, and Paul Segal. Gen IV is the selling holder, while the LSP entities and Paul Segal are associated parties with authority over Gen IV but disclaim broad beneficial ownership.

Did Gen IV Investment Opportunities, LLC retain any Battalion Oil (BATL) shares after the reported sale?

No. The Form 4 states that total shares of Battalion Oil common stock held by Gen IV Investment Opportunities, LLC following the transaction are 0.0000. This indicates the entity fully exited its reported equity position in Battalion Oil through this sale.

What does the Form 4 footnote disclose about beneficial ownership of Battalion Oil (BATL) shares?

The footnote explains that LSP Generation IV, LSP Investment Advisors, and Paul Segal can direct Gen IV’s voting and disposition of shares. However, they disclaim beneficial ownership of the reported shares, except to the extent of any pecuniary, or economic, interest they hold.

Was the Battalion Oil (BATL) Form 4 transaction an open-market sale or another type of trade?

The transaction is identified as an open-market sale of non-derivative common stock, coded “S” on the Form 4. This code indicates a sale in the open market or a private transaction, rather than an option exercise, tax withholding, gift, or restructuring event.