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

Rhea-AI Filing Summary

Gran Tierra Energy (GTE): insider purchases reported on Form 4. A group led by Equinox Partners Investment Management LLC and Sean M. Fieler (listed as Director and 10% Owner) reported open‑market purchases of common shares on 11/07/2025, 11/11/2025, and 11/12/2025 at prices between $4.11 and $4.33.

Post‑transaction beneficial ownership by entity as reported: Equinox Partners, L.P. 2,439,936 shares as of 11/12/2025; Kuroto Fund LP 630,785 shares as of 11/12/2025; Mason Hill Partners, LP 528,048 shares as of 11/12/2025; and a Managed Account 2,328,509 shares as of 11/12/2025. The filing was made jointly by EPIM, Mr. Fieler, and the funds; beneficial ownership is disclaimed except to the extent of pecuniary interest.

Insights

Equity Governance Analyst

Open‑market insider purchases by a 10% owner/director increase indirect holdings across affiliated funds.

The filing reports multiple open‑market purchases (code "P") of **Gran Tierra Energy Inc.** common shares on 11/07/2025, 11/11/2025, and 11/12/2025. Purchases were executed at prices of $4.11, $4.33, and $4.32, respectively, through entities tied to **Equinox Partners Investment Management LLC (EPIM)**: Equinox Partners, L.P., Kuroto Fund LP, Mason Hill Partners, LP, and a Managed Account.

The reported post‑transaction indirect holdings rose to 2,439,936 (Equinox Partners, L.P.), 630,785 (Kuroto Fund LP), 528,048 (Mason Hill Partners, LP), and 2,328,509 (Managed Account). The Reporting Persons are identified as a **Director** and **10% Owner** and filed jointly, with customary disclaimers of beneficial ownership beyond pecuniary interest. No derivative transactions were reported.

What it means: sustained buying increased aggregate indirect exposure by 181,590 shares over three trading days. Why it matters: open‑market purchases by an insider with ≥10% status signal added capital at risk. Items to watch: any further Form 4 activity and any amendments reflecting changes in group ownership. The last transaction date here is 11/12/2025.

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
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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)
11/07/2025

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	11/07/2025		P		16,877	A	$4.11	2,396,343	I(1)(2)	By Equinox Partners, L.P.
Common Shares, par value $0.001 per share	11/07/2025		P		5,626	A	$4.11	616,254	I(1)(2)	By Kuroto Fund LP
Common Shares, par value $0.001 per share	11/07/2025		P		11,251	A	$4.11	498,986	I(1)(2)	By Mason Hill Partners, LP
Common Shares, par value $0.001 per share	11/07/2025		P		16,928	A	$4.11	2,284,787	I(1)	By Managed Account
Common Shares, par value $0.001 per share	11/11/2025		P		5,254	A	$4.33	2,401,597	I(1)(2)	By Equinox Partners, L.P.
Common Shares, par value $0.001 per share	11/11/2025		P		1,751	A	$4.33	618,005	I(1)(2)	By Kuroto Fund LP
Common Shares, par value $0.001 per share	11/11/2025		P		3,503	A	$4.33	502,489	I(1)(2)	By Mason Hill Partners, LP
Common Shares, par value $0.001 per share	11/11/2025		P		5,269	A	$4.33	2,290,056	I(1)	By Managed Account
Common Shares, par value $0.001 per share	11/12/2025		P		38,339	A	$4.32	2,439,936	I(1)(2)	By Equinox Partners, L.P.
Common Shares, par value $0.001 per share	11/12/2025		P		12,780	A	$4.32	630,785	I(1)(2)	By Kuroto Fund LP
Common Shares, par value $0.001 per share	11/12/2025		P		25,559	A	$4.32	528,048	I(1)(2)	By Mason Hill Partners, LP
Common Shares, par value $0.001 per share	11/12/2025		P		38,453	A	$4.32	2,328,509	I(1)	By Managed Account

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	11/12/2025
	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.	11/12/2025
	KUROTO FUND LP /s/ Sean M. Fieler Sean M. Fieler, Manager of Equinox Partners Investment Management LLC, the Investment Manager of Kuroto Fund LP	11/12/2025
	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	11/12/2025
	Sean M. Fieler /s/ Sean M. Fieler	11/12/2025
	** Signature of Reporting Person	Date
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