Epsilon Energy (EPSN) director receives 13,598-share stock grant

Rhea-AI Filing Summary

Epsilon Energy Ltd. director Jason Stankowski reported receiving a grant of 13,598 common shares on 01/22/2026, at a price of $0 per share. According to the footnotes, this grant is in the form of time-based restricted stock units that vest evenly over three years on 12/31/2026, 12/31/2027, and 12/31/2028.

Following this grant, Stankowski directly holds 58,069 common shares. An additional 334,726 common shares are reported as indirectly owned through multiple accounts managed by Clayton Partners LLC, where he serves as a portfolio manager. The filing states that Clayton may be deemed a beneficial owner due to its investment manager role, and that Stankowski may be deemed a beneficial owner through his role at Clayton, but he disclaims beneficial ownership of these indirectly held securities 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	13,598	$0.00	--
holding	Common Shares	--	--	--

Holdings After Transaction: Common Shares — 58,069 shares (Direct); Common Shares — 334,726 shares (Indirect, See Footnote)

Footnotes (1)

1. A grant of 13,598 shares of common stock represented by time-based restricted stock units. The shares vest evenly over three years (12/31/26, 12/31/27, and 12/31/28). 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

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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^*

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)
01/22/2026

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	01/22/2026		A(1)		13,598(1)	A	$0	58,069	D
Common Shares								334,726	I	See 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. A grant of 13,598 shares of common stock represented by time-based restricted stock units. The shares vest evenly over three years (12/31/26, 12/31/27, and 12/31/28).

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	01/23/2026
	** 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 EPSN disclose for Jason Stankowski?

The filing shows that director Jason Stankowski received a grant of 13,598 common shares of Epsilon Energy Ltd. on 01/22/2026 at $0 per share, reported as a time-based restricted stock unit award.

How many Epsilon Energy (EPSN) shares were granted and on what terms?

Stankowski was granted 13,598 shares of common stock represented by time-based restricted stock units. The award vests in three equal installments on 12/31/2026, 12/31/2027, and 12/31/2028.

How many EPSN shares does Jason Stankowski own after this Form 4 transaction?

After the grant, Stankowski directly holds 58,069 common shares of Epsilon Energy Ltd. The filing also reports 334,726 common shares as indirectly owned through accounts managed by Clayton Partners LLC.

What is the role of Clayton Partners LLC in the indirect EPSN share holdings?

The 334,726 indirectly held common shares are in multiple accounts managed by Clayton Partners LLC, where Stankowski is a portfolio manager. Clayton may be deemed a beneficial owner because it acts as investment manager to those accounts.

Does Jason Stankowski claim full beneficial ownership of the indirectly held EPSN shares?

No. The filing states that Stankowski disclaims beneficial ownership of the indirectly reported securities except to the extent of his pecuniary interest, if any, and specifies that the report should not be viewed as an admission of beneficial ownership.

Was there any cash paid for the 13,598 Epsilon Energy shares reported in this Form 4?

No. The 13,598 common shares were reported with a transaction price of $0 per share, reflecting a grant of restricted stock units rather than an open-market purchase.