Hallador director granted 6,047 RSUs

Wesley Charles Ray IV reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Wesley Charles Ray IV reported acquisition or exercise transactions in this Form 4 filing.

Hallador Energy director Wesley Charles Ray IV reported an equity award and updated share holdings. He received 6,047 Restricted Stock Units as his total annual equity compensation for serving on the board. Each unit represents a contingent right to receive one share of Hallador Energy common stock.

The RSUs will fully vest on May 27, 2027, if he continues serving under the company’s Second Amended and Restated 2008 Restricted Stock Unit Plan and Award Agreement. After these updates, he holds 93,862 common shares directly and 323,469 common shares indirectly through the Charles R. Wesley IV Revocable Trust, over which he may be deemed to have voting and dispositive power.

Insider Trade Summary

Grant/Award: 6,047 shares

Grant/Award 3 txns

Insider Wesley Charles Ray IV

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	6,047	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 6,047 contracts (Direct); Common Stock — 323,469 shares (Indirect, By the Charles R. Wesley IV Revocable Trust); Common Stock — 93,862 shares (Direct)

Footnotes (4)

1. F1. Mr. Wesley, as trustee of the Charles R. Wesley IV Revocable Trust, may be deemed to have voting and dispositive power as to the shares held by the trust.
2. F2. Each Restricted Stock Unit represents a contingent right to receive one share of Hallador Energy Common Stock. Vested shares will be delivered to the reporting person pursuant to the terms of the Second Amended and Restated 2008 Restricted Stock Unit Plan.
3. F3. These restricted stock units were issued to the reporting person as consideration for his total annual equity compensation for service on the Issuer's board.
4. F4. The Units shall fully vest May 27, 2027, subject in each case subject to Participant's continued Service through the applicable vesting date, subject to the terms and conditions set forth in the Second Amended and Restated 2008 Restricted Stock Unit Plan and Award Agreement.

Key Figures

RSU grant: 6,047 units RSU vesting date: May 27, 2027 Direct common shares: 93,862 shares +2 more

5 metrics

RSU grant 6,047 units Restricted Stock Units granted as annual equity compensation

RSU vesting date May 27, 2027 Full vesting date subject to continued service

Direct common shares 93,862 shares Total Hallador Energy common stock held directly after transactions

Indirect common shares via trust 323,469 shares Shares held by Charles R. Wesley IV Revocable Trust

Underlying shares per RSU 1 share per unit Each Restricted Stock Unit equals one common share when delivered

Key Terms

Restricted Stock Unit, Revocable Trust, Second Amended and Restated 2008 Restricted Stock Unit Plan, voting and dispositive power

4 terms

Restricted Stock Unit financial

"Each Restricted Stock Unit represents a contingent right to receive one share of Hallador Energy Common Stock."

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Revocable Trust financial

"Charles R. Wesley IV Revocable Trust"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

Second Amended and Restated 2008 Restricted Stock Unit Plan financial

"pursuant to the terms of the Second Amended and Restated 2008 Restricted Stock Unit Plan."

voting and dispositive power financial

"may be deemed to have voting and dispositive power as to the shares held by the trust."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Hallador Energy (HNRG) director Wesley Charles Ray IV report in this Form 4?

He reported receiving 6,047 Restricted Stock Units as annual equity compensation for serving on Hallador Energy’s board. The filing also updates his direct and indirect common stock holdings, including shares held through a revocable trust.

How many Restricted Stock Units did the Hallador Energy (HNRG) director receive?

He received 6,047 Restricted Stock Units. Each unit represents a contingent right to one share of Hallador Energy common stock, issued as consideration for his total annual equity compensation for board service under the company’s equity plan.

When do the new Hallador Energy (HNRG) Restricted Stock Units vest?

The 6,047 Restricted Stock Units fully vest on May 27, 2027. Vesting is conditioned on the director’s continued service and the terms and conditions in Hallador Energy’s Second Amended and Restated 2008 Restricted Stock Unit Plan and related Award Agreement.

How many Hallador Energy (HNRG) shares does the director now hold directly and indirectly?

He holds 93,862 Hallador Energy common shares directly and 323,469 shares indirectly through the Charles R. Wesley IV Revocable Trust. As trustee, he may be deemed to have voting and dispositive power over the trust’s shares.

What does each Hallador Energy (HNRG) Restricted Stock Unit represent?

Each Restricted Stock Unit represents a contingent right to receive one share of Hallador Energy common stock. Vested shares will be delivered to the reporting person according to the Second Amended and Restated 2008 Restricted Stock Unit Plan’s terms.

Is the Hallador Energy (HNRG) director’s RSU grant an open-market stock purchase?

No, the 6,047 Restricted Stock Units were issued as compensation, not bought on the open market. They were granted as the director’s total annual equity compensation for serving on Hallador Energy’s board under the company’s equity plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/01/2026 - 06:13 PM EDT Learn about SEC filing dates

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^*

Wesley Charles Ray IV

(Last) (First) (Middle)

1700 LINCOLN STREET, SUITE 3475

(Street)

DENVER COLORADO 80203

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HALLADOR ENERGY CO [ HNRG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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								323,469	I	By the Charles R. Wesley IV Revocable Trust(1)
Common Stock								93,862	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
Restricted Stock Units	(2)	05/28/2026		A		6,047(3)		(2)(4)	(2)(4)	Common Stock(2)	6,047	(2)	6,047	D

Explanation of Responses:

1. Mr. Wesley, as trustee of the Charles R. Wesley IV Revocable Trust, may be deemed to have voting and dispositive power as to the shares held by the trust.

2. Each Restricted Stock Unit represents a contingent right to receive one share of Hallador Energy Common Stock. Vested shares will be delivered to the reporting person pursuant to the terms of the Second Amended and Restated 2008 Restricted Stock Unit Plan.

3. These restricted stock units were issued to the reporting person as consideration for his total annual equity compensation for service on the Issuer's board.

4. The Units shall fully vest May 27, 2027, subject in each case subject to Participant's continued Service through the applicable vesting date, subject to the terms and conditions set forth in the Second Amended and Restated 2008 Restricted Stock Unit Plan and Award Agreement.

	/s/ Charles R. Wesley, IV	06/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)