Gran Tierra (NYSE: GTE) sees 80,000-share purchase by LM-managed funds

Rhea-AI Filing Summary

Gran Tierra Energy Inc. (GTE) reported an insider-related share purchase. On January 7, 2026, private investment funds managed by LM Asset Management Inc. purchased 80,000 shares of Gran Tierra common stock at a weighted average price of $3.8714 per share. Following this transaction, those funds indirectly held 3,931,200 shares of Gran Tierra common stock.

The Form 4 shows additional holdings linked to the reporting persons. Daniel Lau beneficially owns 240,000 shares directly, while Christine Man beneficially owns 65,550 shares directly. A further 145,000 shares are held by companies where Lau and Man are directors and controlling shareholders. The reporting persons state they may be deemed to beneficially own certain indirect positions but disclaim beneficial ownership except to the extent of their respective pecuniary interests.

Insights

Equity ownership analyst

Funds managed by LM Asset Management increased an indirect stake in Gran Tierra through an 80,000‑share purchase, with detailed attribution among related parties.

The disclosure centers on private investment funds managed by LM Asset Management Inc., which purchased 80,000 Gran Tierra common shares on January 7, 2026 at a weighted average price of $3.8714. After this trade, those funds are shown as indirectly holding 3,931,200 shares. The price range for the trade, from $3.84 to $3.91, is provided via a weighted‑average footnote, a common structure for institutional block activity.

Attribution among related parties is important here. The filing explains that the indirect holdings are in funds managed by LM Asset Management Inc., and that Daniel Lau and Christine Man are control persons of that adviser. It separately identifies direct beneficial ownership of 240,000 shares by Lau and 65,550 shares by Man, plus 145,000 shares held by companies they control. Each reporting person disclaims beneficial ownership of the indirect positions beyond their pecuniary interests, which is typical language for investment managers and control persons.

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

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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).

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^*

LM Asset (IM) Inc.

(Last) (First) (Middle)

915 1055 WEST HASTINGS STREET

(Street)

VANCOUVER A1 V6E 2E9

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

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 Stock	01/07/2026		P		80,000	A	$3.8714(1)	3,931,200	I	See Note(2)
Common Stock								240,000(3)	D
Common Stock								65,550(4)	D
Common Stock								145,000	I	See Note(5)

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^*

LM Asset (IM) Inc.

(Last) (First) (Middle)

915 1055 WEST HASTINGS STREET

(Street)

VANCOUVER A1 V6E 2E9

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Lau Daniel

(Last) (First) (Middle)

915 1055 WEST HASTINGS STREET

(Street)

VANCOUVER A1 V6E 2E9

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Man Christine

(Last) (First) (Middle)

915 1055 WEST HASTINGS STREET

(Street)

VANCOUVER A1 V6E 2E9

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.84 to $3.91, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

2. These securities are held by private investment funds managed by LM Asset Management, Inc. ("LMAM"). LMAM may be deemed to beneficially own these securities as the investment adviser to those funds. Daniel Lau and Christine Man are control persons of LMAM and may be deemed to beneficially own these securities as control persons of LMAM. Each reporting person disclaims beneficial ownership of such securities except to the extent of their respect pecuniary interest therein.

3. These securities are beneficially owned solely by Daniel Lau.

4. These securities are beneficially owned solely by Christine Man.

5. These securities are held by companies of which Daniel Lau and Christine Man are directors and controlling shareholders. They may be deemed to beneficially own these shares because they are control persons of those companies. They disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interests therein.

Remarks:

Effective January 1, 2026, LM Asset (IM) Inc. changed its name to LM Asset Management Inc. The reporting persons are filing this Form 4 jointly but not as a group, and each reporting person expressly disclaims membership in a group withing the meaning of Rule 13d-5(b) under the Securities Exchange Act of 1934.

	/s/ Daniel Lau, Director of LM Asset Management, Inc.	01/09/2026
	/s/ Daniel Lau	01/09/2026
	/s/ Christine Man	01/09/2026
	** 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).
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FAQ

Who increased their position in Gran Tierra Energy (GTE) in this filing?

The filing shows that private investment funds managed by LM Asset Management Inc. purchased additional Gran Tierra Energy common stock, with related reporting by LM Asset Management Inc., Daniel Lau, and Christine Man.

How many Gran Tierra Energy (GTE) shares were purchased and at what price?

On January 7, 2026, funds managed by LM Asset Management Inc. purchased 80,000 Gran Tierra common shares at a weighted average price of $3.8714 per share, with trades executed between $3.84 and $3.91.

What is the total Gran Tierra stake held by the LM Asset Management managed funds after this transaction?

After the reported transaction, the private investment funds managed by LM Asset Management Inc. indirectly held 3,931,200 shares of Gran Tierra Energy common stock.

What are Daniel Lau and Christine Mans direct Gran Tierra Energy (GTE) holdings?

Daniel Lau is reported as beneficially owning 240,000 shares of Gran Tierra common stock directly, while Christine Man is reported as beneficially owning 65,550 shares directly.

What are the additional Gran Tierra shares held through companies associated with Daniel Lau and Christine Man?

The filing reports an additional 145,000 Gran Tierra common shares held by companies where Daniel Lau and Christine Man are directors and controlling shareholders. They may be deemed to beneficially own these shares but disclaim ownership beyond their pecuniary interests.

Do the reporting persons fully acknowledge beneficial ownership of all Gran Tierra (GTE) shares mentioned?

No. For the shares held by funds managed by LM Asset Management Inc. and by certain companies, the reporting persons state they may be deemed to beneficially own the securities but disclaim beneficial ownership except to the extent of their respective pecuniary interests.