[Form 4] EVOLUTION PETROLEUM CORP Insider Trading Activity

Rhea-AI Filing Summary

John Mark Bunch, COO of Evolution Petroleum Corp (EPM), received an award of 55,759 restricted common shares on 09/18/2025 under the Companys Amended and Restated 2016 Equity Incentive Plan. The award is granted at no cash price ($0) and is subject to vesting terms and performance goals. After the reported transaction, Mr. Bunch beneficially owns 223,476 shares, held directly. The Form 4 was signed on 09/22/2025.

Positive

• Award is documented as restricted stock under the company's Amended and Restated 2016 Equity Incentive Plan
• Grant is explicitly subject to vesting terms and performance goals
• Transaction properly disclosed on Form 4, showing updated direct beneficial ownership of 223,476 shares

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine executive equity award with performance-based vesting, typical for aligning management incentives.

The filing documents a restricted stock award to the COO under the company's 2016 Equity Incentive Plan. The award is issued at no cash cost and is explicitly subject to vesting terms and performance goals, which indicates the company is using performance-based equity to compensate senior management. The report shows direct beneficial ownership of 223,476 shares after the grant. This disclosure is procedural and consistent with standard governance practice for executives.

Securities Analyst

TL;DR: Insiders received restricted stock; transaction is non-cash and disclosed per Section 16 reporting rules.

The Form 4 records a non-derivative grant of 55,759 restricted common shares on 09/18/2025 at a reported price of $0. The filing specifies the grants nature (restricted stock under the 2016 plan) and notes post-transaction direct ownership of 223,476 shares. From a securities-disclosure perspective this is a standard Section 16 filing documenting an equity award and the reporting persons updated ownership position.

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

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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^*

Bunch John Mark

(Last) (First) (Middle)

1155 DAIRY ASHFORD ROAD

SUITE 425

(Street)

HOUSTON TX 77079

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EVOLUTION PETROLEUM CORP [ EPM ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

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	09/18/2025		A		55,759(1)	A	$0	223,476	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

Explanation of Responses:

1. Award of Restricted Stock pursuant to Company's Amended and Restated 2016 Equity Incentive Plan, subject to vesting terms and performance goals.

	/s/ JOHN MARK BUNCH	09/22/2025
	** 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 John Mark Bunch report on the Form 4 for EPM?

He reported an award of 55,759 restricted common shares of Evolution Petroleum Corp on 09/18/2025 and now beneficially owns 223,476 shares.

Under what plan were the shares granted to the EPM COO?

The shares were awarded pursuant to the company's Amended and Restated 2016 Equity Incentive Plan.

What are the key conditions attached to the restricted shares?

The award is subject to vesting terms and performance goals as stated in the filing.

Was any cash paid for the shares reported in the Form 4?

No cash price was reported; the transaction lists a price of $0.

When was the Form 4 signed by the reporting person?

The Form 4 bears the reporting person's signature dated 09/22/2025.