Gran Tierra Energy (GTE) 10% owner affiliates report $4-level share purchases

Rhea-AI Filing Summary

Gran Tierra Energy Inc. (GTE) received a filing from 10% owner affiliates showing recent open‑market common stock purchases. Private investment funds managed by LM Asset Management Inc. bought 100,000 shares on January 5, 2026 at a weighted average price of $4.0405 per share and a further 80,000 shares on January 6, 2026 at a weighted average price of $4.0037 per share. After these transactions, the funds managed by LM Asset Management Inc. report beneficial ownership of 3,851,200 Gran Tierra Energy shares. Separately, Daniel Lau is shown as directly beneficially owning 240,000 shares and Christine Man as directly beneficially owning 65,550 shares, with an additional 145,000 shares held by companies of which they are directors and controlling shareholders. The reporting persons state that they may be deemed to beneficially own certain holdings through their roles but disclaim beneficial ownership beyond their respective 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 (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)
01/05/2026

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	01/05/2026		P		100,000	A	$4.0405(1)	3,771,200	I	See Note(2)
Common Stock	01/06/2026		P		80,000	A	$4.0037(3)	3,851,200	I	See Note(2)
Common Stock								240,000(4)	D
Common Stock								65,550(5)	D
Common Stock								145,000	I	See Note(6)

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 $3.97 to $4.09, 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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.98 to $4.05, inclusive.

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

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

6. 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.	01/07/2026
	/s/ Daniel Lau	01/07/2026
	/s/ Christine Man	01/07/2026
	** Signature of Reporting Person	Date
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FAQ

What insider activity did Gran Tierra Energy (GTE) report in this Form 4?

The filing shows that private investment funds managed by LM Asset Management Inc., a 10% owner of Gran Tierra Energy Inc., purchased 100,000 common shares on January 5, 2026 at a weighted average price of $4.0405 and 80,000 shares on January 6, 2026 at a weighted average price of $4.0037 per share.

How many Gran Tierra Energy (GTE) shares do the LM Asset Management funds report owning after these trades?

After the reported open‑market purchases, the private investment funds managed by LM Asset Management Inc. report beneficial ownership of 3,851,200 shares of Gran Tierra Energy common stock.

Who are the reporting persons in the Gran Tierra Energy (GTE) Form 4 and what is their relationship to the issuer?

The reporting persons are LM Asset (IM) Inc. (renamed LM Asset Management Inc. effective January 1, 2026), Daniel Lau, and Christine Man. Each is identified as a 10% owner of Gran Tierra Energy Inc. in the filing.

How many Gran Tierra Energy (GTE) shares do Daniel Lau and Christine Man directly own?

The filing states that 240,000 shares are beneficially owned solely by Daniel Lau and 65,550 shares are beneficially owned solely by Christine Man, both as common stock of Gran Tierra Energy Inc.

What are the indirect Gran Tierra Energy (GTE) holdings related to Daniel Lau and Christine Man?

The filing notes that certain shares are held by private investment funds managed by LM Asset Management Inc., and 145,000 shares 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 through their control roles and state that they disclaim beneficial ownership except to the extent of their respective pecuniary interests.

Were the reported Gran Tierra Energy (GTE) share purchases made at a single price or over a range?

The filing explains that the reported prices are weighted average prices. The January 5, 2026 purchases were made in multiple transactions at prices ranging from $3.97 to $4.09, and the January 6, 2026 purchases were made in multiple transactions at prices ranging from $3.98 to $4.05.

Did LM Asset (IM) Inc. change its name in connection with this Gran Tierra Energy (GTE) filing?

Yes. The remarks state that effective January 1, 2026, LM Asset (IM) Inc. changed its name to LM Asset Management Inc., which manages the private investment funds that hold Gran Tierra Energy shares.