Empire Petroleum director gets $3M convertible note

Empire Petroleum Corp director and 10% owner Phil E. Mulacek reported receiving a Convertible Note Due 2026 as a grant or award.

Accepted by SEC EDGAR 02/23/2026 - 05:15 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Empire Petroleum Corp director and 10% owner Phil E. Mulacek reported receiving a Convertible Note Due 2026 as a grant or award. The Form 4 lists this derivative security with a transaction value of $3,000,000 and classifies the transaction as an acquisition rather than an open-market purchase or sale.

Insider Trade Summary

Grant/Award: 0 shares

Grant/Award 1 txn

Insider Mulacek Phil E

Role Director, 10% Owner

Type	Security	Shares	Price	Value
Grant/Award	Convertible Note Due 2026	0	$3,000,000.00 as filed	--

• Price shown as filed: $3,000,000.00 per share is far above the $2.95 close on Feb 19, 2026, so no transaction value is shown.

Holdings After Transaction: Convertible Note Due 2026 — 0 contracts (Direct)

Holdings Before and After: Convertible Note Due 2026, 0 to 0 contracts (Direct)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Empire Petroleum (EP) disclose in this Form 4?

Empire Petroleum disclosed that director and 10% owner Phil E. Mulacek acquired a Convertible Note Due 2026. The note was reported as a derivative security received as a grant or award, rather than through an open-market transaction, with a stated transaction value of $3,000,000.

Who is the reporting insider in Empire Petroleum (EP)'s latest Form 4 filing?

The reporting insider is Phil E. Mulacek, identified as a director and 10% owner of Empire Petroleum Corp. He reported acquiring a Convertible Note Due 2026 as a derivative security, categorized as a grant, award, or other acquisition with a value of $3,000,000.

What type of security did Phil E. Mulacek acquire from Empire Petroleum (EP)?

Phil E. Mulacek acquired a derivative security described as a Convertible Note Due 2026. The Form 4 classifies the transaction under code “A” for a grant, award, or other acquisition and assigns the note a transaction value of $3,000,000 in the filing details.

Was the Empire Petroleum (EP) insider transaction a buy or a grant?

The transaction was reported as a grant or award acquisition, not an open-market buy. The Form 4 uses transaction code “A” and describes the Convertible Note Due 2026 as a derivative security with a stated transaction value of $3,000,000.

How large is the convertible note reported in Empire Petroleum (EP)'s Form 4?

The convertible note reported for Phil E. Mulacek has a transaction value of $3,000,000. This value appears as the transaction price for the Convertible Note Due 2026, which is identified in the Form 4 as a derivative security received through a grant or award acquisition.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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^*

Mulacek Phil E

(Last) (First) (Middle)

25025 I 45 NORTH

SUITE 420

(Street)

THE WOODLANDS TX 77380

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EMPIRE PETROLEUM CORP [ EP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2026

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

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
Convertible Note Due 2026	$2.99	02/19/2026		A		$3,000,000		02/19/2026	05/19/2026	Common Stock	1,003,344	$3,000,000	$3,000,000	D

Explanation of Responses:

	/s/ Phil E. Mulacek	02/23/2026
	** 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.