[Form 4] Gran Tierra Energy Inc. Insider Trading Activity

Rhea-AI Filing Summary

Gran Tierra Energy Inc. (GTE) – Form 4 insider transaction

On 07/01/2025, director Ronald Royal exercised 1,970 stock options at an exercise price of $3.50 per share (Code M) and immediately sold the same 1,970 common shares on the open market at an average price of $4.78 (Code D). Following the sale, the reporting person holds no common shares directly, but retains 15,648 options with a $3.50 strike price.

The size of the transaction is modest and represents a routine option exercise-and-sale for liquidity. No derivatives were newly granted or cancelled, and there is no indication of broader strategic intent. The filing does, however, register a full disposition of the shares received, which some investors may view as a slight negative sentiment signal, albeit immaterial in scale relative to GTE’s float.

Positive

• Director retains 15,648 in-the-money options, maintaining future upside alignment with shareholders

Negative

• Complete disposal of newly acquired shares may be interpreted as a mild negative sentiment signal

Insights

Equity Analyst

TL;DR small, routine insider sale; negligible impact on valuation.

The director’s paired option exercise and same-day sale involves fewer than 2 k shares—far below materiality thresholds for Gran Tierra. Proceeds (~$9.4 k) are unlikely to reflect a strategic view of the company’s prospects. Retention of 15.6 k options preserves upside alignment. Given GTE’s ~366 m shares outstanding, the sale equals <0.001% of float. I categorize the event as informationally neutral with limited signalling power.

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^*

Royal Ronald

(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)
07/01/2025

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	07/01/2025		M		1,970	A	$3.5	1,970	D
Common Stock	07/01/2025		D		1,970	D	$4.78	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)	$3.5	07/01/2025		M			1,970	06/30/2025	06/30/2025	Common Stock	1,970	$0	15,648	D

Explanation of Responses:

	/s/ Phillip Abraham, Attorney-In Fact	07/03/2025
	** 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

How many Gran Tierra (GTE) shares did the director sell?

Ronald Royal sold 1,970 common shares on 07/01/2025.

What price did the insider receive for the GTE shares?

The shares were sold at an average price of $4.78 each.

Did the insider retain any common shares after the transaction?

No. After selling, the reporting person directly owns 0 common shares.

How many stock options does the insider still hold?

He retains 15,648 options with a $3.50 strike price.

Is this transaction significant for Gran Tierra investors?

Given the small share count (1,970), the filing is considered immaterial to GTE’s valuation.