[Form 4] EVOLUTION PETROLEUM CORP Insider Trading Activity

Rhea-AI Filing Summary

Kelly Beatty, the company's Chief Accounting Officer, was granted 18,922 restricted shares of Evolution Petroleum Corp common stock on 09/18/2025. The award was made under the company’s Amended and Restated 2016 Equity Incentive Plan and is subject to vesting terms and performance goals. After the award, Beatty beneficially owned 77,630 shares. The grant was recorded at a price of $0, indicating an awarded (not purchased) issuance of stock.

Positive

• Awarded 18,922 restricted shares under the company's equity incentive plan, aligning the Chief Accounting Officer with shareholder interests
• Post‑award beneficial ownership increased to 77,630 shares, indicating greater insider stake

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A mid-level executive received a time- and performance‑conditioned equity award, increasing insider alignment with shareholders.

The restricted stock grant of 18,922 shares to the Chief Accounting Officer reflects standard long‑term incentive practice. The award is governed by the 2016 Equity Incentive Plan and is explicitly subject to vesting and performance goals, which ties compensation to future outcomes rather than immediate liquidity. The filing shows beneficial ownership rising to 77,630 shares, demonstrating increased insider stake. There is no information here about vesting schedule, performance metrics, or potential dilution impact, so material effects on financials or ownership percentages cannot be assessed from this form alone.

Securities Analyst

TL;DR: Non‑cash equity award recorded; transaction is routine and not immediately dilutive to public market pricing data.

The Form 4 discloses a non‑derivative award recorded at $0 for 18,922 shares. Such awards are customary for executive compensation and are reported to satisfy Section 16 requirements. The report confirms the reporting person’s role and post‑grant beneficial ownership (77,630 shares). The document lacks quantitative details on plan share pool, grant fair value, or accounting treatment, preventing assessment of near‑term EPS or share count impact.

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
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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^*

Beatty Kelly

(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)
	CHIEF ACCOUNTING OFFICER

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		18,922(1)	A	$0	77,630	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/ KELLY BEATTY	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 transaction did Kelly Beatty report on the Form 4 for EPM?

The Form 4 reports an award of 18,922 restricted shares of Evolution Petroleum Corp common stock.

Under which plan were the restricted shares granted?

The restricted shares were granted pursuant to the company’s Amended and Restated 2016 Equity Incentive Plan.

Are the granted shares immediately vested and tradable?

No. The award is subject to vesting terms and performance goals, so they are not immediately freely tradable.

How many shares does the reporting person beneficially own after the transaction?

After the award, the reporting person beneficially owned 77,630 shares.

What role does the reporting person hold at Evolution Petroleum Corp (EPM)?

The reporting person, Kelly Beatty, is identified as the company’s Chief Accounting Officer.