Granite Ridge (GRNT) Director Elects Stock: 3,466 Shares Issued

Rhea-AI Filing Summary

Matthew Reade Miller, a director of Granite Ridge Resources, Inc. (GRNT), acquired 3,466 shares of the company's common stock on 09/30/2025 as payment in lieu of the quarterly cash retainer under the issuer's Board compensation plan. The shares were issued based on the closing price on 09/30/2025. After the transaction, Mr. Miller beneficially owned 1,288,130 shares. The Form 4 was signed by Emily Fuquay by power of attorney and filed on 10/01/2025.

Positive

• Director stock election aligns interests by converting cash retainer into company common stock
• Post-transaction beneficial ownership disclosed (1,288,130 shares), aiding transparency for investors

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received equity compensation; routine issuance aligns interests but is non-material to valuation.

This Form 4 discloses a routine board compensation election to receive stock instead of cash, resulting in 3,466 shares issued to a director. The transaction increases insider alignment with shareholders by converting cash retainer to equity. The post-transaction beneficial ownership of 1,288,130 shares is notable for tracking insider holdings over time but, by itself, does not indicate a material change to the company’s capital structure or operating outlook.

Corporate Governance Expert

TL;DR: Standard director compensation election reported correctly; disclosure complies with Section 16 reporting.

The filing documents a standard election under the board compensation plan to receive common shares in lieu of cash. The report includes required details: transaction date, number of shares issued, calculation basis (closing price on 09/30/2025), and post-transaction beneficial ownership. Execution by power of attorney is disclosed and the Form 4 appears to meet typical reporting requirements for director equity grants.

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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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^*

Miller Matthew Reade

(Last) (First) (Middle)

5217 MCKINNEY AVE., SUITE 400

(Street)

DALLAS TX 75205

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Granite Ridge Resources, Inc. [ GRNT ]

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)
09/30/2025

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 $0.0001 per share	09/30/2025		A		3,466	A	$0(1)	1,288,130	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:

1. Pursuant to the issuer's Board of Directors compensation plan, the reporting person elected to receive stock in lieu of the cash compensation retainer for Board service for the quarter ended September 30, 2025. The number of shares issued were calculated based on the closing price of the common stock on September 30, 2025.

Remarks:

	/s/ Emily Fuquay, by power of attorney for Matthew R. Miller	10/01/2025
	** 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 is reported on the GRNT Form 4?

The Form 4 reports that director Matthew R. Miller acquired 3,466 shares on 09/30/2025 as stock in lieu of a cash retainer.

How many shares does Matthew R. Miller beneficially own after the transaction?

After the issuance, Mr. Miller beneficially owned 1,288,130 shares.

Why were the shares issued to the director?

The shares were issued pursuant to the issuer’s Board of Directors compensation plan as an election to receive stock instead of the cash retainer for the quarter ended 09/30/2025.

What price was used to calculate the shares issued?

The number of shares issued was calculated based on the closing price on 09/30/2025.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Emily Fuquay by power of attorney for Matthew R. Miller and filed on 10/01/2025.