[SCHEDULE 13D/A] Gulfport Energy Corporation SEC Filing
Silver Point Capital, L.P. and two individuals filed Amendment No. 14 to their Schedule 13D for Gulfport Energy Corporation (GPOR). The amendment reports that on September 4, 2025 the reporting persons converted all 23,743 shares of Preferred Stock they held into 1,741,150 shares of Common Stock following the issuer's redemption notice. After the conversion the reporting persons beneficially own 3,739,920 shares of common stock, calculated as 19.4% using 17,561,724 previously outstanding shares plus the 1,741,150 issued on conversion. The issuer later disclosed approximately 2.1 million additional common shares outstanding, which would make the reporting persons' ownership about 19.0% as of September 5, 2025. The amendment adds a joint filing agreement and references existing cooperation and registration rights agreements.
- Conversion disclosed: The filing explicitly reports conversion of 23,743 preferred shares into 1,741,150 common shares.
- Clear ownership figures: Reporting persons state beneficial ownership of 3,739,920 common shares and provide percentage calculations.
- Supplemental exhibits: The amendment adds a Joint Filing Agreement and references existing Cooperation and Registration Rights Agreements.
- Dilution disclosed: The issuer reported approximately 2.1 million additional common shares outstanding after conversions, which reduces the reporting persons' percentage ownership to about 19.0%.
- Material shift in outstanding shares: The conversion and issuer disclosures changed the outstanding share denominator used for ownership calculations, which may affect reported percentages.
Insights
TL;DR: Conversion increased common holdings to ~3.74M shares, representing roughly 19% ownership after reported dilution.
The conversion of 23,743 preferred shares into 1,741,150 common shares materially changed the reporting persons' common share count and the denominator used for percentage ownership. Using the issuer's prior outstanding share count of 17,561,724 plus the conversion shares yields a 19.4% stake; the issuer's subsequent disclosure of ~2.1 million additional shares outstanding lowers the stake to ~19.0%. This scale of ownership is sizable and properly disclosed with supporting exhibits including a joint filing agreement and prior cooperation and registration rights.
TL;DR: Reporting persons formalized ownership change and updated governance-related exhibits.
The amendment documents a definitive conversion event and supplements Item 7 with a Joint Filing Agreement and referenced cooperation and registration rights agreements. The filing clarifies shared voting and dispositive power of 3,739,920 shares across the reporting persons and updates the ownership percentage calculations in light of the conversion and issuer disclosures. The filing is procedural and governance-focused, ensuring transparency about beneficial ownership and related agreements.