Evolution Petroleum (EPM) Form 4: CEO Kelly Loyd Awarded 102,834 Restricted Shares

Rhea-AI Filing Summary

Kelly W. Loyd, President & CEO and Director of Evolution Petroleum Corp (EPM), was granted 102,834 shares of restricted 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. Following the grant, Mr. Loyd beneficially owns 491,772 shares, reported as directly owned. The Form 4 was signed on 09/22/2025 and shows the grant price as $0, indicating these were granted rather than purchased.

Insights

Corporate Governance Expert

TL;DR: CEO received a restricted stock award of 102,834 shares subject to vesting and performance conditions.

This grant is a typical executive compensation action under an equity incentive plan. It aligns executive pay with long-term performance by making vesting conditional on goals, which can help motivate management to meet targets. The Form 4 reports the award as a non‑purchased grant (price $0) and shows the CEO’s total direct beneficial ownership of 491,772 shares after the award. The filing contains no details on vesting schedule, specific performance metrics, or potential dilution impact, so material effect on shareholders cannot be assessed from this form alone.

Securities Analyst

TL;DR: Materiality appears limited; this is an equity compensation grant, not a cash transaction or disposition.

The transaction code indicates an award of restricted stock rather than a market trade. Such grants are routine for executives and do not directly change outstanding share count reported here. The Form 4 confirms the award but lacks quantitative details about vesting timelines or performance thresholds that determine future share release. Without those specifics, the investor impact is likely neutral to modest and depends on undisclosed plan mechanics.

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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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^*

Loyd Kelly William

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT & CEO

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		102,834(1)	A	$0	491,772	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 W. LOYD	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 Kelly W. Loyd report on the Form 4 for EPM?

He reported an award of 102,834 restricted common shares under the 2016 Equity Incentive Plan on 09/18/2025, increasing his direct beneficial ownership to 491,772 shares.

Was the EPM transaction a purchase or a grant?

The Form 4 shows the transaction price as $0, indicating the shares were granted (restricted stock award), not purchased.

Are the awarded EPM shares immediately vested?

No—these shares are subject to vesting terms and performance goals; the Form 4 does not provide the vesting schedule or specific performance metrics.

Does this Form 4 indicate any sale or disposition of EPM shares by the reporting person?

No—this filing reports an acquisition (award) of restricted common stock, not a disposition.

How many EPM shares does Kelly W. Loyd own after the award?

491,772 shares are reported as beneficially owned following the transaction.