GTE insider group buys shares at $4.35 and $4.23 prices

Rhea-AI Filing Summary

Gran Tierra Energy Inc. (GTE)11/21/2025 and 11/25/2025 at prices of $4.35 and $4.23 per share. After these trades, Equinox Partners, L.P. indirectly held 2,583,279 common shares and the managed account held 2,583,779 common shares, with additional indirect holdings of 659,996 shares by Kuroto Fund LP and 550,317 shares by Mason Hill Partners, LP. The reporting group files jointly and notes that each party disclaims beneficial ownership beyond its pecuniary interest.

Insights

Equity Ownership and Governance Analyst

Multiple Form 4 filings show a 10% owner/director increasing indirect holdings through affiliated funds and accounts over three trading days.

The filing shows several open-market purchases of Gran Tierra Energy Inc. common shares on 11/21/2025, 11/24/2025, and 11/25/2025. The transactions were all coded "P" (purchase) and executed at prices of about $4.35 and $4.23 per share, with individual trades of 12,500; 37,500; 6,767; 20,300; 20,102; and 60,306 shares. These purchases increased indirect holdings in various vehicles, including Equinox Partners, L.P. and a managed account.

After these trades, the reported indirect beneficial ownership stands at 2,556,410 and 2,563,177 shares via Equinox Partners, L.P. on the respective dates, 2,503,173 and 2,523,473 shares via a managed account, plus 659,996 shares via Kuroto Fund LP and 550,317 shares via Mason Hill Partners, LP. The reporting persons are identified as both a Director and a 10% Owner, indicating a significant governance role and stake. The explanatory notes clarify that Equinox Partners Investment Management LLC acts as investment adviser to the funds and that Sean M. Fieler, as its president, may be deemed to beneficially own the securities, while all parties disclaim beneficial ownership beyond their pecuniary interest.

This pattern of open-market purchases increases the aggregate indirect beneficial holdings rather than reducing exposure, which is generally viewed as an indication of continued capital commitment. The filing is joint among the adviser and the three funds, with signatures dated 11/25/2025, giving a clear record of who controls the investment decisions and how the ownership is structured. A key item to monitor over the next several reporting periods will be whether these indirect positions continue to rise or stabilize, as subsequent Forms 4 would show changes in this ownership profile.

11/25/2025 - 06:51 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^*

Equinox Partners Investment Management LLC

(Last) (First) (Middle)

THREE STAMFORD PLAZA

301 TRESSER BLVD, 13TH FL

(Street)

STAMFORD CT 06901

(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	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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 Shares, par value $0.001 per share	11/21/2025		P		12,500	A	$4.35	2,556,410	I(1)(2)	By Equinox Partners, L.P.
Common Shares, par value $0.001 per share	11/21/2025		P		37,500	A	$4.35	2,503,173	I(1)	By Managed Account
Common Shares, par value $0.001 per share	11/24/2025		P		6,767	A	$4.35	2,563,177	I(1)(2)	By Equinox Partners, L.P.
Common Shares, par value $0.001 per share	11/24/2025		P		20,300	A	$4.35	2,523,473	I(1)	By Managed Account
Common Shares, par value $0.001 per share	11/25/2025		P		20,102	A	$4.23	2,583,279	I(1)(2)	By Equinox Partners, L.P.
Common Shares, par value $0.001 per share	11/25/2025		P		60,306	A	$4.23	2,583,779	I(1)	By Managed Account
Common Shares, par value $0.001 per share								659,996	I(1)(2)	By Kuroto Fund LP
Common Shares, par value $0.001 per share								550,317	I(1)(2)	By Mason Hill Partners, LP

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

1. Name and Address of Reporting Person^*

Equinox Partners Investment Management LLC

(Last) (First) (Middle)

THREE STAMFORD PLAZA

301 TRESSER BLVD, 13TH FL

(Street)

STAMFORD CT 06901

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

EQUINOX PARTNERS LP

(Last) (First) (Middle)

THREE STAMFORD PLAZA

301 TRESSER BLVD, 13TH FL

(Street)

STAMFORD CT 06901

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

KUROTO FUND LP

(Last) (First) (Middle)

THREE STAMFORD PLAZA

301 TRESSER BLVD, 13TH FL

(Street)

STAMFORD CT 06901

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

MASON HILL PARTNERS LP

(Last) (First) (Middle)

THREE STAMFORD PLAZA

301 TRESSER BLVD, 13TH FL

(Street)

STAMFORD CT 06901

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.

2. EPIM is the investment advisor to Equinox Partners, L.P., Kuroto Fund LP, and Mason Hill Partners, LP (collectively, the "Funds"). Mr. Fieler is the president of EPIM. By virtue of these relationships, each of EPIM and Mr. Fieler may be deemed to beneficially own the securities owned directly by the Funds.

Remarks:

This Form 4 is filed jointly by Equinox Partners Investment Management LLC ("EPIM"), Sean M. Fieler, Equinox Partners, L.P., Kuroto Fund LP, and Mason Hill Partners, LP (collectively, the "Reporting Persons").

	EQUINOX PARTNERS INVESTMENT MANAGEMENT LLC /s/ Sean M. Fieler Sean M. Fieler, Manager	11/25/2025
	EQUINOX PARTNERS, L.P. /s/ Sean M. Fieler Sean M. Fieler, Manager of Equinox Partners Investment Management LLC, the Investment Manager of Equinox Partners, L.P.	11/25/2025
	KUROTO FUND LP /s/ Sean M. Fieler Sean M. Fieler, Manager of Equinox Partners Investment Management LLC, the Investment Manager of Kuroto Fund LP	11/25/2025
	MASON HILL PARTNERS, LP /s/ Sean M. Fieler Sean M. Fieler, Manager of Equinox Partners Investment Management LLC, the Investment Manager of Mason Hill Partners, LP	11/25/2025
	Sean M. Fieler /s/ Sean M. Fieler	11/25/2025
	** 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 insider activity did GTE report in this Form 4?

The filing shows a group of reporting persons indirectly bought Gran Tierra Energy common shares in multiple open-market transactions between 11/21/2025 and 11/25/2025 at prices of $4.35 and $4.23 per share.

Who are the reporting persons in the GTE Form 4 filing?

The Form 4 is filed jointly by Equinox Partners Investment Management LLC, Equinox Partners, L.P., Kuroto Fund LP, Mason Hill Partners, LP, and Sean M. Fieler, collectively referred to as the reporting persons.

What is the relationship of the reporting persons to Gran Tierra Energy (GTE)?

The reporting persons are identified as both a Director and a 10% Owner of Gran Tierra Energy Inc. on the Form 4.

How many GTE shares are indirectly held after the reported transactions?

After the reported trades, Equinox Partners, L.P. indirectly held 2,583,279 common shares, a managed account held 2,583,779 shares, Kuroto Fund LP held 659,996 shares, and Mason Hill Partners, LP held 550,317 shares.

Do the reporting persons claim full beneficial ownership of all reported GTE shares?

No. The filing states that each reporting person disclaims beneficial ownership of the securities except to the extent of his or its pecuniary interest and that the filing is not an admission of beneficial ownership under Section 13(d).

What role does Equinox Partners Investment Management LLC play in these GTE holdings?

EPIM is the investment advisor to Equinox Partners, L.P., Kuroto Fund LP, and Mason Hill Partners, LP, and by virtue of this relationship, EPIM and Sean M. Fieler may be deemed to beneficially own the securities held by these funds.