[Form 4] New Concept Energy Inc Insider Trading Activity

Rhea-AI Filing Summary

Realty Advisors, Inc. reported a sale of 246,254 shares of New Concept Energy, Inc. (GBR) on 08/28/2025 at a price of $1.15 per share, leaving beneficial ownership of 400,000 shares. The Form 4 was signed by Erik L. Johnson, President, and lists the reporting person as a Director and 10% owner of the issuer.

Positive

• Timely reporting: The Form 4 discloses the transaction date and is signed, showing compliance with Section 16 reporting obligations
• Clear transaction details: Quantity, price, and post-transaction beneficial ownership are explicitly stated

Negative

• Insider sale disclosed: Disposal of 246,254 shares could be viewed negatively by investors seeking insider accumulation
• No explanatory detail: The filing provides no reason for the sale or indication of a trading plan (e.g., Rule 10b5-1)

Insights

Securities Analyst

TL;DR: Insider sale disclosed; transaction is factual disclosure without additional context on intent or timing.

The filing documents a non-derivative disposition of 246,254 common shares at $1.15 each on 08/28/2025 by Realty Advisors, Inc., with 400,000 shares reported beneficially owned after the sale. This is a straightforward Section 16 disclosure showing compliance with insider trading reporting requirements. The filing does not provide rationale, proceeds, or subsequent transactions.

Corporate Governance Expert

TL;DR: Form 4 shows an insider-level sale and proper signature; no governance red flags are documented in the filing itself.

The Form 4 is signed by the reporting entity's president and identifies the filer as a Director and 10% owner. The document records the sale details (date, quantity, price) but contains no explanatory language about plans, agreements, or Rule 10b5-1 plans. As filed, it is a routine disclosure of a beneficial ownership change.

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^*

REALTY ADVISORS INC

(Last) (First) (Middle)

1603 LBJ FREEWAY

SUITE 300

(Street)

DALLAS TX 75234

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
New Concept Energy, Inc. [ GBR ]

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)
08/28/2025

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, par value $0.01 per share	08/28/2025		S		246,254	D	$1.15	400,000	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:

	Realty Advisors, Inc.	08/28/2025
	By: Erik L. Johnson, President	08/28/2025
	** 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 Realty Advisors, Inc. report on Form 4 for GBR?

The filer reported a sale of 246,254 shares of New Concept Energy, Inc. (GBR) on 08/28/2025 at $1.15 per share.

How many GBR shares does Realty Advisors, Inc. beneficially own after the reported sale?

The Form 4 states the reporting person beneficially owned 400,000 shares following the transaction.

Who signed the Form 4 for Realty Advisors, Inc.?

The Form 4 is signed by Erik L. Johnson, President of Realty Advisors, Inc.

Does the Form 4 indicate the filer is affiliated with GBR's management?

Yes; the Form 4 lists the reporting person as a Director and a 10% owner of the issuer.

Is there any information about a 10b5-1 trading plan in this filing?

No; the filing does not include any statement or checkbox indicating the transaction was made pursuant to a Rule 10b5-1 plan.