Empire Petroleum: LLC buys 25,127 shares Oct. 5–8

The director's weighted-average purchase prices came with stated transaction price ranges; the October 7 purchase was reported at $2.7200 per share.

Rhea-AI Filing Summary

Empire Petroleum Corp. (EP) director and 10% owner Phil E. Mulacek reported four purchases by Petroleum Independent & Exploration LLC totaling 25,127 common shares from October 5 through October 8, 2026. The LLC purchased 14,508 shares on October 5 at a $2.6720 weighted-average price (transactions ranged from $2.59 to $2.68, inclusive); 2,315 on October 6 at $2.7180 ($2.70 to $2.72, inclusive); 4,023 on October 7 at $2.7200; and 4,281 on October 8 at a $2.8190 weighted-average price ($2.80 to $2.84, inclusive). No Rule 10b5-1 plan is reported.

Separate common-stock position entries dated October 5 listed 9,411,581 shares directly, 592,318 through Big Red Revocable Trust, 578,746 through Five Sterling LP, and 44,023 held by Mulacek’s spouse.

Insider Trade Summary

Net Buyer: 25,127 shares

Net Buy 8 txns

Insider Mulacek Phil E

Role Director, 10% Owner

Bought 25,127 shs ($68K)

Type	Security	Shares	Price	Value
Purchase	Common Stock F3	4,281	$2.819	$12K
Purchase	Common Stock	4,023	$2.72	$11K
Purchase	Common Stock F2	2,315	$2.718	$6K
Purchase	Common Stock F1	14,508	$2.672	$39K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 956,854 shares (Indirect, By Petroleum Independent & Exploration LLC); Common Stock — 9,411,581 shares (Direct); Common Stock — 592,318 shares (Indirect, By Big Red Revocable Trust); Common Stock — 578,746 shares (Indirect, By Five Sterling LP); Common Stock — 44,023 shares (Indirect, By spouse)

Footnotes (3)

1. F1. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.59 to $2.68, inclusive. The reporting person undertakes to provide to Empire Petroleum Corporation, any security holder of Empire Petroleum Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnotes (1), (2) and (3) to this Form 4.
2. F2. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.70 to $2.72, inclusive.
3. F3. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.80 to $2.84, inclusive.

Key Figures

Shares purchased: 14,508 shares Weighted-average purchase price: $2.6720 per share Shares purchased: 2,315 shares +5 more

8 metrics

Shares purchased 14,508 shares October 5, 2026

Weighted-average purchase price $2.6720 per share October 5, 2026; transactions ranged from $2.59 to $2.68, inclusive

Shares purchased 2,315 shares October 6, 2026

Weighted-average purchase price $2.7180 per share October 6, 2026; transactions ranged from $2.70 to $2.72, inclusive

Shares purchased 4,023 shares October 7, 2026

Purchase price $2.7200 per share October 7, 2026

Shares purchased 4,281 shares October 8, 2026

Weighted-average purchase price $2.8190 per share October 8, 2026; transactions ranged from $2.80 to $2.84, inclusive

Key Terms

weighted average price, Rule 10b5-1 plan

2 terms

weighted average price financial

"The price reported in column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Rule 10b5-1 plan regulatory

"No Rule 10b5-1 plan is reported."

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

FAQ

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

How many EP shares did Petroleum Independent & Exploration LLC purchase, and at what prices?

Petroleum Independent & Exploration LLC purchased 25,127 EP common shares in four transactions: 14,508 on October 5 at a $2.6720 weighted average ($2.59 to $2.68, inclusive); 2,315 on October 6 at $2.7180 ($2.70 to $2.72, inclusive); 4,023 on October 7 at $2.7200; and 4,281 on October 8 at a $2.8190 weighted average ($2.80 to $2.84, inclusive). No Rule 10b5-1 plan is reported.

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

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Available on EDGAR 10/13/2026 - 07:12 AM EDT Accepted by SEC EDGAR 10/13/2026 - 07:11 AM EDT Learn about SEC filing dates

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 TEXAS 77380

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/05/2026

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

X	Form filed by One Reporting Person
	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	10/05/2026		P		14,508	A	$2.672(1)	946,235	I	By Petroleum Independent & Exploration LLC
Common Stock	10/06/2026		P		2,315	A	$2.718(2)	948,550	I	By Petroleum Independent & Exploration LLC
Common Stock	10/07/2026		P		4,023	A	$2.72	952,573	I	By Petroleum Independent & Exploration LLC
Common Stock	10/08/2026		P		4,281	A	$2.819(3)	956,854	I	By Petroleum Independent & Exploration LLC
Common Stock								9,411,581	D
Common Stock								592,318	I	By Big Red Revocable Trust
Common Stock								578,746	I	By Five Sterling LP
Common Stock								44,023	I	By spouse

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 price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.59 to $2.68, inclusive. The reporting person undertakes to provide to Empire Petroleum Corporation, any security holder of Empire Petroleum Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnotes (1), (2) and (3) to this Form 4.

2. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.70 to $2.72, inclusive.

3. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.80 to $2.84, inclusive.

	/s/ Phil E. Mulacek	10/13/2026
	** 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)