Insider group linked to GTE (NYSE: GTE) adds common shares in open-market buys

Rhea-AI Filing Summary

Gran Tierra Energy Inc. insiders reported a series of open-market share purchases. Entities affiliated with LM Asset Management, Inc. bought 32,000 common shares at a weighted average price of $5.3285 on February 12, 10,000 shares at $5.40 on February 13, and 20,000 shares at $5.30 on February 17.

After these transactions, 207,000 common shares were held indirectly through companies where Daniel Lau and Christine Man are directors and controlling shareholders. Separately, 240,000 shares are beneficially owned solely by Daniel Lau, 65,550 solely by Christine Man, and 3,931,200 shares are held by private investment funds managed by LM Asset Management Inc. The reporting persons state they may be deemed beneficial owners as control persons but disclaim beneficial ownership beyond their pecuniary interests.

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

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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 Management, 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)
02/12/2026

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	02/12/2026		P		32,000	A	$5.3285(1)	177,000	I	See Note(2)
Common Stock	02/13/2026		P		10,000	A	$5.4	187,000	I	See Note(2)
Common Stock	02/17/2026		P		20,000	A	$5.3	207,000	I	See Note(2)
Common Stock								240,000(3)	D
Common Stock								65,550(4)	D
Common Stock								3,931,200	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 Management, 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 $5.30 to $5.41, 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 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.

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 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 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.	02/17/2026
	/s/ Daniel Lau	02/17/2026
	/s/ Christine Man	02/17/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did GTE report on this Form 4?

The filing reports three open-market purchases of Gran Tierra Energy common stock. Affiliated entities bought 32,000 shares at $5.3285, 10,000 at $5.40, and 20,000 at $5.30 in February 2026, increasing their indirectly held position.

Who is the reporting group in this GTE Form 4 filing?

The reporting persons are LM Asset Management, Inc., Daniel Lau, and Christine Man. They are identified as 10% owners and control persons of entities that hold Gran Tierra Energy shares, and they file jointly while expressly disclaiming acting as a group.

How many GTE shares are held indirectly through affiliated companies?

Following the reported purchases, 207,000 Gran Tierra Energy common shares are held indirectly by companies where Daniel Lau and Christine Man serve as directors and controlling shareholders, according to the filing’s ownership table and explanatory footnotes.

What Gran Tierra Energy shares are owned directly by Daniel Lau and Christine Man?

The filing states that 240,000 Gran Tierra Energy common shares are beneficially owned solely by Daniel Lau and 65,550 shares are beneficially owned solely by Christine Man. These positions are reported as directly owned non-derivative holdings.

How many GTE shares are held by funds managed by LM Asset Management, Inc.?

Private investment funds managed by LM Asset Management, Inc. hold 3,931,200 Gran Tierra Energy common shares. LM Asset Management, Daniel Lau, and Christine Man may be deemed beneficial owners as control persons but disclaim beneficial ownership beyond their pecuniary interests.

What does the weighted average price disclosure mean in this GTE Form 4?

For the 32,000-share purchase, the reported $5.3285 price is a weighted average. The shares were bought in multiple trades between $5.30 and $5.41, and the reporting persons offer to provide the exact trade breakdown upon request.