[Form 4] Evolution Petroleum Corporation Insider Trading Activity

Rhea-AI Filing Summary

Evolution Petroleum Corp (EPM) Director and President & CEO Kelly W. Loyd reported a disposition on 08/29/2025 of 10,922 shares of the issuer's common stock at a reported price of $5.16 per share. The Form 4 indicates the transaction code "F" and an explanatory note that these shares were surrendered to the company to satisfy income tax withholding obligations upon the vesting of a restricted stock grant. After the reported disposition, the reporting person beneficially owns 388,938 shares, held directly. The filing is a single-report Form 4 signed 09/03/2025.

Insights

Corporate Governance Expert

TL;DR: Routine tax-withholding disposition on vested restricted stock; not an open-market sale and typically neutral for governance signals.

The filing shows a common, administrative transaction: surrendering vested restricted shares to satisfy withholding taxes, marked by transaction code "F." This contrasts with a voluntary open-market sale and therefore usually carries less signal about management's view of company prospects. The reporting person remains a substantial direct holder with 388,938 shares, and no derivative activity or new grants are disclosed here. From a governance perspective, the transaction aligns with standard executive compensation mechanics and raises no immediate red flags.

Securities Analyst

TL;DR: Disposal of 10,922 shares at $5.16 to cover taxes; transaction size appears administrative and unlikely to materially affect float or valuation.

The Form 4 documents a disposition tied to tax withholding for vested restricted stock rather than a market sale, as indicated by the explanation and code "F." The notional proceeds (10,922 shares at $5.16) are evident from the filing but are not described as part of a larger liquidation. The reporting person's retained ownership of 388,938 shares remains the primary disclosed holding metric. No additional transactions, option exercises, or derivative positions are reported, limiting market-impact implications from this filing alone.

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

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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^*

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)
08/29/2025

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	08/29/2025		F		10,922(1)	D	$5.16	388,938	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. Represents shares surrendered to the Company to satisfy income tax withholding obligations upon the vesting of restricted stock grant.

	/s/ KELLY W. LOYD	09/03/2025
	** 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 W. Loyd report on Form 4 for EPM?

The Form 4 reports a disposition of 10,922 shares on 08/29/2025 at a price of $5.16 per share.

Why were the 10,922 shares disposed according to the filing?

The filing states the shares were surrendered to the company to satisfy income tax withholding obligations upon the vesting of restricted stock.

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

After the reported transaction, the reporting person beneficially owns 388,938 shares (direct ownership).

What is the reporting person's role at Evolution Petroleum (EPM)?

The reporting person is listed as a Director and as an Officer with the title President & CEO.

What does transaction code 'F' mean on this Form 4?

On this Form 4, transaction code F is used in conjunction with the explanatory note indicating the disposition was for tax withholding upon vesting of restricted stock.