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

Rhea-AI Filing Summary

Form 4 overview – Gran Tierra Energy Inc. (GTE)

Director David P. Smith reported two same-day transactions on 07/01/2025:

• Option exercise (Code M): 2,417 common shares acquired from the exercise of employee stock options at an exercise price of $3.50 per share.
• Open-market disposition (Code D): The exact same 2,417 shares were sold at $5.01 per share.

Following the transactions, Smith’s direct ownership of common stock is 0 shares, while 26,939 stock options remain outstanding.

No other equity classes or indirect holdings are disclosed. The filing does not reference a Rule 10b5-1 trading plan.

Materiality assessment: The trade involves a small number of shares relative to Gran Tierra’s total float and therefore has limited impact on overall ownership structure. Nevertheless, investors often monitor director-level share sales for potential sentiment signals.

Positive

• None.

Negative

• Director disposed of 2,417 shares immediately after exercise, reducing direct share ownership to zero, which some investors may interpret as a lack of long-term commitment.

Insights

Financial Analyst

TL;DR: Small director option exercise and same-day sale; limited corporate impact.

The Form 4 shows David P. Smith exercising 2,417 options at $3.50 and immediately liquidating the shares at $5.01. Gross proceeds total roughly $12,100. The net change in his equity exposure to common shares is zero, while his option position declines marginally to 26,939. The volume is immaterial to Gran Tierra’s market capitalization and does not alter insider ownership percentages in a meaningful way. Such paired “exercise-and-sell” transactions are often undertaken for liquidity or tax purposes rather than signaling. Overall effect: neutral.

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^*

Hazell Evan

(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		2,417	A	$3.5	2,417	D
Common Stock	07/01/2025		D		2,417	D	$4.99	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			2,417	06/30/2025	06/30/2025	Common Stock	2,417	$0	10,684	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

What did GTE director David P. Smith report in the July 1 2025 Form 4?

He exercised 2,417 stock options at $3.50 and sold the same 2,417 shares at $5.01.

How many Gran Tierra shares does the director own after the transaction?

According to the filing, David P. Smith owns 0 common shares directly after the reported sale.

What is the exercise price and sale price disclosed in the Form 4 for GTE?

Exercise price: $3.50 per share; Sale price: $5.01 per share.

How many stock options remain with the director after the July 1 2025 exercise?

The Form 4 shows 26,939 stock options still beneficially owned.

Does the filing indicate a Rule 10b5-1 trading plan?

No, the checkbox for a Rule 10b5-1(c) plan is not marked in the filing.