Director Lovoi of Epsilon Energy (EPSN) gets 13,598 RSUs

Rhea-AI Filing Summary

Epsilon Energy director John Lovoi reported an equity award in the form of 13,598 common shares represented by time-based restricted stock units. These shares vest evenly over three years on 12/31/2026, 12/31/2027, and 12/31/2028, and were granted at a price of $0, reflecting a compensatory award rather than an open-market purchase. After this grant, Lovoi directly holds 122,617 common shares. The filing also notes 208,078 common shares held in multiple accounts managed by JVL Advisors, LLC, where Lovoi is the managing member; he may be deemed a beneficial owner through that role but expressly disclaims beneficial ownership of those managed securities except to the extent of any pecuniary interest.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider LOVOI JOHN

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Shares	13,598	$0.00	--
holding	Common Shares	--	--	--

Holdings After Transaction: Common Shares — 122,617 shares (Direct); Common Shares — 208,078 shares (Indirect, 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 JVL Advisors, LLC ("JVL"), of which John Lovoi is the managing member. Mr. Lovoi may be deemed to be the beneficial owner of such securtities by virtue of such role. Mr. Lovoi disclaims beneficial ownership of the securities managed by JVL, except to the extent of his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that JVL or Mr. Lovoi is the beneficial owner of such securities for purposed 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^*

LOVOI JOHN

(Last) (First) (Middle)

3505 W SAM HOUSTON PWKY NORTH

SUITE 400

(Street)

HOUSTON TX 77043

(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(1)	122,617	D
Common Shares								208,078	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. 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 JVL Advisors, LLC ("JVL"), of which John Lovoi is the managing member. Mr. Lovoi may be deemed to be the beneficial owner of such securtities by virtue of such role. Mr. Lovoi disclaims beneficial ownership of the securities managed by JVL, except to the extent of his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that JVL or Mr. Lovoi is the beneficial owner of such securities for purposed of Section 16 or for any other purpose.

	/s/ John Lovoi	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 Epsilon Energy (EPSN) report for John Lovoi?

Director John Lovoi reported a grant of 13,598 common shares in the form of time-based restricted stock units on 01/22/2026. The award was priced at $0, indicating it is part of his equity compensation rather than a market purchase.

How do the 13,598 restricted stock units for EPSN vest?

The 13,598 restricted stock units granted to director John Lovoi vest in three equal annual installments on 12/31/2026, 12/31/2027, and 12/31/2028, aligning his compensation with longer-term company performance.

How many Epsilon Energy shares does John Lovoi hold directly after this Form 4?

Following the reported equity grant, director John Lovoi directly holds 122,617 Epsilon Energy common shares, as shown in the Form 4 summary of beneficial ownership.

What are the indirect Epsilon Energy holdings associated with JVL Advisors, LLC?

The filing shows 208,078 common shares held indirectly in accounts managed by JVL Advisors, LLC. Lovoi is the managing member of JVL and may be deemed a beneficial owner through that role.

How does John Lovoi describe his beneficial ownership of EPSN shares managed by JVL Advisors?

The filing states that John Lovoi disclaims beneficial ownership of Epsilon Energy securities managed by JVL Advisors, LLC, except to the extent of his pecuniary interest, if any, and that the report should not be taken as an admission of beneficial ownership.

Is the reported EPSN transaction a market purchase or part of compensation?

The Form 4 describes the transaction as a grant of 13,598 common shares represented by time-based restricted stock units at a price of $0, indicating it is an equity compensation award rather than a market purchase.