[Form 4] Epsilon Energy Ltd. Insider Trading Activity

Rhea-AI Filing Summary

Epsilon Energy Ltd. (EPSN) Form 4 shows sales of common shares by Solas Capital Management, LLC and by Frederick Tucker Golden, who are identified as a director and 10% owner. The filing reports three non-derivative sale transactions: 24,427 shares sold on 09/25/2025 at $5.22, 25,000 shares sold on 09/26/2025 at $5.17, and 25,000 shares sold on 09/29/2025 at $5.03. After each transaction the reported beneficial ownership amounts were 3,669,613; 3,644,613; and 3,619,613 shares respectively. The filing notes the shares are held in multiple accounts and that the reporting persons disclaim beneficial ownership except for any pecuniary interest.

Insights

Corporate Governance Expert

TL;DR: Multiple scheduled sales by a director/10% owner; routine disclosure with limited immediate governance concerns.

The Form 4 documents three open-market sales reducing reported beneficial holdings by 74,427 shares across three dates in late September 2025. Because the reporting parties are identified as a 10% owner and director, these transactions warrant monitoring for patterns, but the filing contains the standard disclaimer that holdings are across multiple accounts and that beneficial ownership is limited to pecuniary interest. No derivative transactions, option exercises, or new disclosures about control changes are reported.

Securities Analyst

TL;DR: Insider sold 74,427 shares at prices between $5.03 and $5.22; transaction size appears modest relative to total reported holdings.

The Form 4 lists three sales totaling 74,427 shares with prices of $5.22, $5.17, and $5.03, leaving reported beneficial ownership at about 3.62 million shares. The record shows non-derivative disposals only and no purchases or option activity. This is a clear, single-purpose disclosure of sales; it does not include context on company performance, and therefore by itself provides limited information about operational or financial 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

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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).

1. Name and Address of Reporting Person^*

Solas Capital Management, LLC

(Last) (First) (Middle)

1063 POST ROAD

2ND FLOOR

(Street)

DARIEN CT 06820

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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, no par value	09/25/2025		S		24,427	D	$5.22	3,669,613	I	See Footnote(1)
Common Shares, no par value	09/26/2025		S		25,000	D	$5.17	3,644,613	I	See Footnote(1)
Common Shares, no par value	09/29/2025		S		25,000	D	$5.03	3,619,613	I	See Footnote(1)

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

1. Name and Address of Reporting Person^*

Solas Capital Management, LLC

(Last) (First) (Middle)

1063 POST ROAD

2ND FLOOR

(Street)

DARIEN CT 06820

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

FREDERICK TUCKER GOLDEN

(Last) (First) (Middle)

C/O SOLAS CAPITAL MANAGEMENT, LLC

1063 POST ROAD, 2ND FLOOR

(Street)

DARIEN CT 06820

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The securities reported herein are held in multiple accounts. Solas Capital Management, LLC may be deemed to be a beneficial owner of such securities by virtue of its role as the investment manager of such accounts. Frederick Tucker Golden may be deemed to be a beneficial owner of such securities by virtue of his role as the portfolio manager of Solas Capital Management, LLC. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

	SOLAS CAPITAL MANAGEMENT, LLC, By: /s/ Frederick Tucker Golden, General Partner, Solas Capital Holdings, LP, its Member	09/29/2025
	Frederick Tucker Golden, /s/ Frederick Tucker Golden	09/29/2025
	** Signature of Reporting Person	Date
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