Form 4: EP CEO disposes options, holds 346,088 shares

Rhea-AI Filing Summary

Empire Petroleum (EP) insider activity: President & CEO Michael R. Morrisett reported an open-market sale of 187,084 shares of common stock at $3.77 on 11/05/2025. Following the sale, he beneficially owns 346,088 shares directly.

He also disposed of employee stock options covering 589,100 shares, priced at $1.519 per option, with an exercise price of $1.32 and an expiration of 04/02/2029, leaving 0 derivative securities held after the transaction. Option figures are adjusted for the company’s 1-for-4 reverse stock split effective March 7, 2022.

Insider Trade Summary

Net Seller: 776,184 shares ($1,600,150)

Net Sell 2 txns

Insider Morrisett Michael R.

Role President & CEO

Sold 776,184 shs ($1.60M)

Type	Security	Shares	Price	Value
Sale	Employee Stock Option (right to buy)	589,100	$1.519	$895K
Sale	Common Stock	187,084	$3.77	$705K

Holdings After Transaction: Employee Stock Option (right to buy) — 0 shares (Direct); Common Stock — 346,088 shares (Direct)

Footnotes (1)

1. As adjusted to give effect to Empire's 1-for-4 reverse common stock split which became effective on March 7, 2022 (the "Reverse Stock Split"). The option vested in three installments as follows: 312,500 shares on April 3, 2019; 156,250 shares on April 3, 2020; and 156,250 shares on April 3, 2021. As adjusted for the Reverse Stock Split.

Form 4 Insider Transactions: What Each Field Means →

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^*

Morrisett Michael R.

(Last) (First) (Middle)

2200 S. UTICA PLACE

SUITE 150

(Street)

TULSA OK 74114

(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		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2025

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
Common Stock	11/05/2025		S		187,084	D	$3.77	346,088	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
Employee Stock Option (right to buy)	$1.32(1)	11/05/2025		S			589,100(1)	(2)	04/02/2029	Common Stock	589,100(1)	$1.519	0	D

Explanation of Responses:

1. As adjusted to give effect to Empire's 1-for-4 reverse common stock split which became effective on March 7, 2022 (the "Reverse Stock Split").

2. The option vested in three installments as follows: 312,500 shares on April 3, 2019; 156,250 shares on April 3, 2020; and 156,250 shares on April 3, 2021. As adjusted for the Reverse Stock Split.

	/s/ Michael R. Morrisett	11/07/2025
	** 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 did EP’s CEO report on Form 4?

A sale of 187,084 shares of common stock at $3.77 on 11/05/2025, and a disposition of employee stock options covering 589,100 shares.

How many EP shares does the CEO hold after the transaction?

He beneficially owns 346,088 shares directly after the reported sale.

What are the details of the disposed employee stock options?

Options on 589,100 shares, $1.32 exercise price, priced at $1.519 per option, expiring 04/02/2029, with 0 remaining after the transaction.

Were the share and option counts adjusted for any corporate action?

Yes. Counts reflect EP’s 1-for-4 reverse stock split effective March 7, 2022.

What is the filer’s relationship to Empire Petroleum (EP)?

He is a Director and serves as President & CEO.