Epsilon Energy (EPSN) director granted 1,670 dividend equivalent shares

Rhea-AI Filing Summary

Epsilon Energy Ltd. director Jason Stankowski reported receiving 1,670 common shares of the company on 01/13/2026 as a dividend equivalent right, at a price of $0 per share. Following this acquisition, he directly holds 44,471 common shares. The filing also notes an additional 334,726 common shares held indirectly in multiple accounts managed by Clayton Partners LLC, where he serves as a portfolio manager. These indirectly held shares are attributed to those managed accounts, and Stankowski disclaims beneficial ownership of them except to the extent of any pecuniary interest.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Stankowski Jason

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Shares	1,670	$0.00	--
holding	Common Shares	--	--	--

Holdings After Transaction: Common Shares — 44,471 shares (Direct); Common Shares — 334,726 shares (Indirect, FOOTNOTE)

Footnotes (1)

1. These common shares were acquired as a dividend equivalent right. They were issued on 01/13/2026. The securities reported herein are held in multiple accounts managed by Clayton Partners LLC ("Clayton"), of which Jason Stankowski is a portfolio manager. Clayton may be deemed to be a beneficial owner of such securities by virtue of its role as the investment manager of such accounts. Mr. Stankowski may be deemed to be a beneficial owner of such securities by virtue of his role as a portfolio manager of Clayton. Mr. Stankowski disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

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
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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^*

Stankowski Jason

(Last) (First) (Middle)

3160 COLLEGE AVE, SUITE 203

(Street)

BERKELEY CA 94705

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Epsilon Energy Ltd. [ EPSN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/13/2026

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 Shares	01/13/2026		A(1)		1,670(1)	A	$0	44,471	D
Common Shares								334,726	I	FOOTNOTE(2)

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. These common shares were acquired as a dividend equivalent right. They were issued on 01/13/2026.

2. The securities reported herein are held in multiple accounts managed by Clayton Partners LLC ("Clayton"), of which Jason Stankowski is a portfolio manager. Clayton may be deemed to be a beneficial owner of such securities by virtue of its role as the investment manager of such accounts. Mr. Stankowski may be deemed to be a beneficial owner of such securities by virtue of his role as a portfolio manager of Clayton. Mr. Stankowski disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

	/s/ Jason Stankowski	01/16/2026
	** 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 insider transaction did Epsilon Energy (EPSN) report in this Form 4?

The Form 4 reports that director Jason Stankowski acquired 1,670 common shares of Epsilon Energy Ltd. on 01/13/2026 as a dividend equivalent right at a price of $0 per share.

How many Epsilon Energy shares does Jason Stankowski directly own after this transaction?

After the reported transaction, Jason Stankowski directly owns 44,471 common shares of Epsilon Energy Ltd.

What are dividend equivalent rights in the context of this Epsilon Energy Form 4?

The Form 4 notes that the 1,670 common shares acquired by Jason Stankowski were issued as a dividend equivalent right on 01/13/2026, meaning the shares were granted to mirror dividends on underlying awards.

What indirect Epsilon Energy share holdings are reported for Jason Stankowski?

The filing reports 334,726 common shares held indirectly in multiple accounts managed by Clayton Partners LLC, where Jason Stankowski is a portfolio manager.

Does Jason Stankowski claim beneficial ownership of the indirectly held Epsilon Energy shares?

The Form 4 states that the indirectly held securities are in accounts managed by Clayton Partners LLC and that Jason Stankowski disclaims beneficial ownership of those securities except to the extent of his pecuniary interest, if any.

Is the reported Epsilon Energy transaction a purchase or a grant?

The transaction is reported with code A and described as an acquisition of 1,670 common shares as a dividend equivalent right, with a price of $0 per share, indicating a grant rather than an open-market purchase.