Silver Point Reports 1.74M Share Conversion in GPOR Form 4
Rhea-AI Filing Summary
Gulfport Energy (GPOR) insiders filed a Form 4 reporting a conversion and related share changes dated 09/04/2025. Silver Point Capital L.P. and related reporting persons recorded the conversion of Series A Convertible Preferred Stock, with 23,743 preferred shares referenced and 1,741,150 common shares acquired in the transaction. After the reported transactions, the group beneficially owned 3,739,920 common shares. An additional 770 common shares are reported as held indirectly. The filing lists Silver Point Capital L.P., Silver Point Capital Management, LLC, Edward A. Mule and Robert J. O'Shea as reporting persons and includes standard disclaimers that the entities disclaim beneficial ownership except to the extent of pecuniary interest.
Positive
- Significant equity alignment: Conversion increased common holdings by 1,741,150 shares, signaling a larger common-equity stake by the reporting group
- Transparent disclosure: Form 4 lists reporting persons, conversion details, and includes standard disclaimers and authorized signatures
Negative
- No price disclosed: The filing does not state any cash price or proceeds associated with the transactions
- Limited detail on conversion terms: The filing references conversion mechanics but does not provide the conversion ratio or definitive documentation text
Insights
TL;DR: A sizable conversion of preferred stock into common shares increased the reporting group's common holdings by 1.74M shares.
The filing documents a conversion-related acquisition on 09/04/2025 whereby Series A Convertible Preferred Stock (23,743 shares referenced) was converted, resulting in the reported acquisition of 1,741,150 common shares and a post-transaction beneficial position of 3,739,920 common shares by the reporting group. The filing names Silver Point entities and two individuals as reporting persons and repeats customary disclaimers about beneficial ownership. This is a material disclosure of insider ownership changes but contains no pricing information or trading intent beyond the conversion mechanics.
TL;DR: The Form 4 discloses director-level ownership shifts through conversion; governance disclosures and disclaimers are standard.
The report shows that directors and 10% owners affiliated with Silver Point effected or recorded a conversion of preferred securities into common stock on 09/04/2025, increasing the group's common share count. The filing identifies the reporting parties and includes the typical management/beneficial-ownership disclaimers and an authorized signature dated 09/08/2025. No departures, grants, or compensatory option exercises are reported; the change appears to be driven by convertible-preferred mechanics rather than open-market purchases or sales.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Convertible Preferred Stock | 23,743 | $0.00 | -- |
| Conversion | Common Stock | 1,741,150 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Each share of the Issuer's Series A Convertible Preferred Stock (the "Preferred Stock") was converted into a number of shares of the Issuer's common stock as described in the definitive documentation governing the Preferred Stock. Silver Point Capital, L.P. ("Silver Point") or its wholly owned subsidiaries are the investment managers of Silver Point Capital Fund, L.P., Silver Point Capital Offshore Master Fund, L.P., Silver Point Distressed Opportunities Fund, L.P., Silver Point Distressed Opportunities Offshore Master Fund, L.P., Silver Point Distressed Opportunity Institutional Partners, L.P. and Silver Point Distressed Opportunity Institutional Partners Master Fund (Offshore), L.P. (the "Funds") and, by reason of such status, may be deemed to be the beneficial owner of all of the reported securities held by the Funds. Silver Point Capital Management, LLC ("Management") is the general partner of Silver Point and as a result may be deemed to be the beneficial owner of all securities held by the Funds. Messrs. Edward A. Mule and Robert J. O'Shea are each members of Management and as a result may be deemed to be the beneficial owner of all of the securities held by the Funds. Silver Point, Management and Messrs. Mule and O'Shea disclaim beneficial ownership of the reported securities held by Funds except to the extent of their pecuniary interests. Represents shares held by David Reganato, a director of the Issuer and employee of Silver Point. Mr. Reganato has an understanding with Silver Point pursuant to which he holds shares for the benefit of Silver Point and certain of tis affiliates. Accordingly, Mr. Reganato disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein. Each holder of shares of the Issuer's Preferred Stock has the right, at its option and at any time, to convert all or a portion of the shares of Preferred Stock that it holds into shares of the Issuer's common stock as described in the definitive documentation governing the Preferred Stock.
