[Form 4] GRAN TIERRA ENERGY INC. Insider Trading Activity

Rhea-AI Filing Summary

Gran Tierra Energy director Evan Hazell reported same-day option and stock trades affecting 4,798 common shares on 10/03/2025. The filing shows an option-related acquisition recorded under transaction code M at a price of $4.15 for 4,798 shares, and a separate disposition of 4,798 shares at $2.30. After the reported transactions the filing lists 4,798 shares beneficially owned by the reporting person. The Form 4 was signed by an attorney-in-fact on 10/08/2025.

Positive

• Director reported continuing ownership of 4,798 common shares after the transactions
• Transactions were disclosed promptly on a Form 4, preserving transparency under Section 16

Negative

• Same-day sale at a lower price ($2.30) than the reported acquisition price ($4.15) could indicate a tax or liquidity-driven sale rather than a traditional buy-hold intent
• Filing lacks explanation for the paired acquisition and disposition, leaving motives and mechanics unclear

Insights

Corporate Insider Transactions Analyst

TL;DR: Director recorded an option-related acquisition and an equal-sized sale totaling 4,798 shares on 10/03/2025.

The filing shows a code M entry for acquiring 4,798 common shares at $4.15, which typically indicates an exercise or conversion resulting from a pre-existing derivative. On the same date a separate disposition of 4,798 shares at $2.30 is reported, leaving 4,798 shares listed as beneficially owned after the transactions.

These events are recorded as direct holdings. Relevant near-term items to watch are further Form 4 filings that clarify whether the sale was a partial hedge of an exercise, or a transfer between accounts; any subsequent filings would appear within the next few trading days.

10/08/2025 - 08:18 PM

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
Estimated average burden
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^*

Hazell Evan

(Last) (First) (Middle)

C/O GRAN TIERRA ENERGY INC.

500 CENTRE STREET S.E.

(Street)

CALGARY A0 T2G 1A6

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GRAN TIERRA ENERGY INC. [ GTE ]

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)
10/03/2025

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	10/03/2025		M		4,798	A	$4.15	4,798	D
Common Stock	10/03/2025		D		4,798	D	$2.3	0	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
Stock Option (Right to buy)	$2.3	10/03/2025		M			4,798	09/30/2025	09/30/2025	Common Stock	4,798	$0	5,886	D

Explanation of Responses:

	/s/ Phillip Abraham, Attorney-In Fact	10/08/2025
	** 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 did Gran Tierra Energy director Evan Hazell report on Form 4 (GTE)?

Evan Hazell reported an acquisition and a disposition of 4,798 common shares each on 10/03/2025, with prices of $4.15 (acquisition, code M) and $2.30 (disposition).

What does transaction code M mean on a Form 4 for GTE?

Transaction code M is used to report certain acquisitions resulting from exercise or conversion of a derivative instrument; the filing shows a code M acquisition of 4,798 shares at $4.15.

How many GTE shares does the reporting person own after these trades?

The Form 4 lists 4,798 shares beneficially owned following the reported transactions.

When was the Form 4 for GTE signed and filed?

The signature on the filing is dated 10/08/2025, and the reported transactions occurred on 10/03/2025.

Do these trades indicate insider buying or selling pressure for GTE?

The filing shows both an acquisition and an equal-sized disposition on the same date for 4,798 shares; the mixed activity does not by itself indicate clear net buying or selling pressure.