DWSN Form 4: CFO Increases Stake to 20,000 Shares After Two Purchases

Rhea-AI Filing Summary

Insider purchases increased stake in Dawson Geophysical Co. (DWSN). Chief Financial Officer Ian M. Shaw reported two open-market purchases: 5,000 shares on 08/15/2025 at a weighted average price of $1.28 and 5,000 shares on 08/18/2025 at a weighted average price of $1.35, bringing his total beneficial ownership to 20,000 common shares. The filing notes the reported prices are weighted averages and that the reporting person will provide purchase-by-purchase details on request. The transactions were reported on a single Form 4 filed by one reporting person.

Positive

• Insider purchase reported: CFO acquired a total of 10,000 common shares across two transactions, increasing beneficial ownership to 20,000 shares.

Negative

• None.

Insights

Financial Analyst

TL;DR: Company CFO made modest open-market purchases, increasing holdings to 20,000 shares.

The transactions are small relative to a typical public company float and represent routine insider buying. Two purchases of 5,000 shares each at weighted average prices of $1.28 and $1.35 indicate incremental accumulation rather than a large strategic stake. Without additional context on total outstanding shares or material corporate events, this filing is informative but not materially market-moving.

Corporate Governance Expert

TL;DR: Insider activity follows disclosure norms; no governance issues evident from the filing.

The Form 4 discloses direct ownership increases by the CFO and includes the required weighted-average price disclosure with an offer to supply per-lot pricing. The form is signed and reports transactions on separate lines for each class. There are no indications of sales, derivative transactions, or trading pursuant to a Rule 10b5-1 plan disclosed in this document.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Shaw Ian M.

(Last) (First) (Middle)

508 W. WALL SUITE 800

(Street)

MIDLAND TX 79701

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DAWSON GEOPHYSICAL CO [ DWSN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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

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

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

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
Dawson Geophysical Company-Common Stock $0.01 par value	08/15/2025		A		5,000	A	$1.28(1)	15,000	D
Dawson Geophysical Company-Common Stock $0.01 par value	08/18/2025		A		5,000	A	$1.35(1)	20,000	D

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

Explanation of Responses:

1. The reported price is a weighted average purchase price. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.

	/s/ Ian Shaw	08/18/2025
	** 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.

FAQ

What trades did Dawson Geophysical (DWSN) insider Ian M. Shaw report?

He reported two open-market purchases of 5,000 shares on 08/15/2025 at a weighted average price of $1.28 and 5,000 shares on 08/18/2025 at $1.35.

How many shares does the reporting person own after these transactions?

The reporting person beneficially owns 20,000 common shares following the reported transactions.

Were these purchases made under a 10b5-1 trading plan?

The Form 4 does not indicate that these transactions were made pursuant to a Rule 10b5-1 plan.

Does the filing disclose exact per-lot purchase prices?

The filing states the prices are weighted averages and the reporting person will provide per-lot purchase details to the issuer, security holders, or SEC staff upon request.

Was the Form 4 filed jointly or by a single reporting person?

The Form 4 was filed by one reporting person (the CFO, Ian M. Shaw).