Gran Tierra Energy Insider Disposes of Stake; Holds 0 Shares Post-Trade

Rhea-AI Filing Summary

Gran Tierra Energy Inc. (GTE) – Insider Form 4 filing dated 07/03/2025

Director Peter James Dey reported a same-day option exercise and share disposition on 07/01/2025:

• Exercise: 1,970 stock options at an exercise price of $3.50 per share.
• Sale: Immediate sale of the identical 1,970 common shares at $4.99 per share.
• Approximate gross proceeds: $9,830; cost basis $6,895; implied spread ≈ $2,935.
• Post-transaction holdings: 0 direct common shares; 16,554 remaining options.

The filing indicates Mr. Dey no longer holds any direct equity in GTE after the transaction, although he retains unexercised options. The size of the trade—1,970 shares—is modest and unlikely to be material to the company’s capitalization but may be noted by investors monitoring insider ownership trends.

Positive

• None.

Negative

• Director reduced direct equity stake to zero, potentially viewed unfavorably by investors tracking insider confidence.

Insights

Insider Trading Analyst

TL;DR – Small option exercise & sale; director now holds zero shares, slight negative optics, immaterial financially.

The transaction combines a Rule 16b option exercise (code M) with an immediate open-market disposal (code D). The spread of roughly $1.49 per share suggests a routine monetisation rather than a strategic stake change. Because the director disposed of all newly acquired shares, his direct ownership fell to zero, potentially signalling limited long-term alignment; however, the residual 16,554 options provide continued upside exposure. Volume (1,970 shares) is negligible relative to GTE’s average daily volume, so market impact should be minimal. Overall market significance: low.

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

X

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^*

Dey Peter James

(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		1,970	A	$3.5	1,970	D
Common Stock	07/01/2025		D		1,970	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			1,970	06/30/2025	06/30/2025	Common Stock	1,970	$0	16,554	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 Gran Tierra Energy (GTE) disclose in the July 2025 Form 4?

Director Peter J. Dey exercised 1,970 options at $3.50 and immediately sold the same 1,970 shares at $4.99.

How many GTE shares does the director own after the transaction?

The filing shows 0 direct common shares remaining and 16,554 unexercised options.

What was the transaction date for the insider trade?

Both the option exercise and share sale occurred on 07/01/2025.

What prices were involved in the trade?

Exercise price was $3.50; sale price was $4.99 per share.

Is the insider trade considered material to Gran Tierra Energy?

Given the small size—1,970 shares—the trade is not financially material to GTE but may influence sentiment.