EP director & 10% owner reports October stock purchases

Rhea-AI Filing Summary

Empire Petroleum (EP) reported insider share purchases by a director and 10% owner. On 10/20/2025, the reporting person purchased 8,190 shares of common stock at a weighted average price of $3.5754. On 10/22/2025, they purchased an additional 4,000 shares at $3.75.

Following these transactions, the filing lists 5,375,015 shares held directly. It also shows indirect beneficial ownership interests of 817,262 shares by Petroleum Independent & Exploration LLC, 526,300 by Big Red Revocable Trust, 485,202 by Five Sterling LP, and 42,833 by the reporting person’s spouse.

Insider Trade Summary

Net Buyer: 12,190 shares ($44,283)

Net Buy 6 txns

Insider Mulacek Phil E

Role Director, 10% Owner

Bought 12,190 shs ($44K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	4,000	$3.75	$15K
Purchase	Common Stock	8,190	$3.5754	$29K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 5,375,015 shares (Direct); Common Stock — 817,262 shares (Indirect, By Petroleum Independent & Exploration LLC)

Footnotes (1)

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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^*

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)
10/20/2025

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	10/20/2025		P		8,190	A	$3.5754(1)	5,371,015	D
Common Stock	10/22/2025		P		4,000	A	$3.75	5,375,015	D
Common Stock								817,262	I	By Petroleum Independent & Exploration LLC
Common Stock								526,300	I	By Big Red Revocable Trust
Common Stock								485,202	I	By Five Sterling LP
Common Stock								42,833	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 $3.55 to $3.60, 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 range set forth in this footnote (1) to this Form 4.

	/s/ Phil E. Mulacek	10/23/2025
	** 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 Empire Petroleum (EP) disclose in this Form 4?

A director and 10% owner reported open-market purchases of 8,190 shares on 10/20/2025 and 4,000 shares on 10/22/2025.

What prices were paid for the EP shares?

The 10/20/2025 purchase was at a weighted average of $3.5754 (range $3.55–$3.60). The 10/22/2025 purchase was at $3.75.

How many EP shares are directly owned after these transactions?

Direct beneficial ownership is listed as 5,375,015 shares following the reported transactions.

What indirect holdings are reported for EP?

Indirect interests include 817,262 shares by Petroleum Independent & Exploration LLC, 526,300 by Big Red Revocable Trust, 485,202 by Five Sterling LP, and 42,833 by the spouse.

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

The reporting person is a Director and a 10% Owner of Empire Petroleum.

Was a Rule 10b5-1 plan indicated?

The form includes the Rule 10b5-1 plan checkbox language; the excerpt does not indicate it was checked.