Empire Petroleum director buys 97,981 shares in October

Two transaction dates had weighted-average prices across multiple fills, while the other two were reported at $3.20 per share.

Rhea-AI Filing Summary

Empire Petroleum Corp. (EP) director and 10% owner Phil E. Mulacek reported four purchases held indirectly through Petroleum Independent & Exploration LLC, totaling 97,981 common shares. On October 9, 2026, the LLC purchased 5,878 shares at a weighted-average $3.0774 per share, across transactions priced from $3.02 to $3.11, inclusive; on October 12, it purchased 20,073 shares at a weighted-average $3.1996 per share, across transactions priced from $3.19 to $3.20, inclusive. It purchased 69,427 shares at $3.20 per share on October 14 and 2,603 shares at $3.20 per share on October 15. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Buyer: 97,981 shares

Net Buy 8 txns

Insider Mulacek Phil E

Role Director, 10% Owner

Bought 97,981 shs ($313K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	2,603	$3.20	$8K
Purchase	Common Stock	69,427	$3.20	$222K
Purchase	Common Stock F2	20,073	$3.1996	$64K
Purchase	Common Stock F1	5,878	$3.0774	$18K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,060,835 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 (2)

1. F1. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.02 to $3.11, 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) and (2) 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 $3.19 to $3.20, inclusive.

Key Figures

Aggregate shares purchased: 97,981 shares October 9 purchase: 5,878 shares at a weighted-average $3.0774 per share October 12 purchase: 20,073 shares at a weighted-average $3.1996 per share +2 more

5 metrics

Aggregate shares purchased 97,981 shares Four purchases reported in October 2026

October 9 purchase 5,878 shares at a weighted-average $3.0774 per share October 9, 2026; transactions priced from $3.02 to $3.11, inclusive

October 12 purchase 20,073 shares at a weighted-average $3.1996 per share October 12, 2026; transactions priced from $3.19 to $3.20, inclusive

October 14 purchase 69,427 shares at $3.20 per share October 14, 2026

October 15 purchase 2,603 shares at $3.20 per share October 15, 2026

Key Terms

weighted average price, multiple transactions, security holder

3 terms

weighted average price financial

"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.

multiple transactions financial

"purchased in multiple transactions"

security holder regulatory

"any security holder of Empire Petroleum Corporation"

FAQ

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

How many EP shares did Phil E. Mulacek purchase?

Phil E. Mulacek reported purchases totaling 97,981 Empire Petroleum common shares through Petroleum Independent & Exploration LLC, across October 9, 12, 14 and 15, 2026. The reported prices ranged from $3.0774 to $3.20 per share, with weighted-average prices on the October 9 and October 12 purchases. No Rule 10b5-1 plan is reported.

What prices were reported for Phil E. Mulacek's EP purchases?

On October 9, 2026, the weighted-average price was $3.0774 per share, with transactions from $3.02 to $3.11, inclusive. On October 12, the weighted-average price was $3.1996 per share, with transactions from $3.19 to $3.20, inclusive. The October 14 and October 15 purchases were each reported at $3.20 per share.

What EP share holdings were listed for Phil E. Mulacek?

The October 9, 2026 entries list 9,411,581 shares directly, 592,318 through Big Red Revocable Trust, 578,746 through Five Sterling LP, and 44,023 by his spouse.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/19/2026 - 06:02 PM EDT Accepted by SEC EDGAR 10/19/2026 - 06:02 PM 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)
10/09/2026

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	10/09/2026		P		5,878	A	$3.0774(1)	962,732	I	By Petroleum Independent & Exploration LLC
Common Stock	10/12/2026		P		20,073	A	$3.1996(2)	988,805	I	By Petroleum Independent & Exploration LLC
Common Stock	10/14/2026		P		69,427	A	$3.2	1,058,232	I	By Petroleum Independent & Exploration LLC
Common Stock	10/15/2026		P		2,603	A	$3.2	1,060,835	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 $3.02 to $3.11, 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) and (2) 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 $3.19 to $3.20, inclusive.

	/s/ Phil E. Mulacek	10/19/2026
	** 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)