[Form 4] HALLADOR ENERGY CO Insider Trading Activity

Rhea-AI Filing Summary

Hallador Energy (HNRG) director reports insider stock purchase. Director Charles R. Wesley IV, through the Charles R. Wesley IV Revocable Trust, bought 13,000 shares of Hallador Energy common stock on 11/21/2025 at a price of $19.2819 per share, in an open-market purchase reported with transaction code "P".

Following this transaction, the trust now beneficially owns 247,914 Hallador Energy shares indirectly, while Wesley also holds 91,270 shares directly. The filing is made by a single reporting person and reflects increased insider ownership, with no derivative securities reported.

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

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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^*

Wesley Charles Ray IV

(Last) (First) (Middle)

1700 LINCOLN STREET, SUITE 3475

(Street)

DENVER CO 80203

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

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	11/21/2025		P		13,000	A	$19.2819	247,914	I	By the Charles R. Wesley IV Revocable Trust
Common Stock								91,270	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

Explanation of Responses:

	/s/ Charles R. Wesley, IV	11/21/2025
	** 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 insider transaction did HNRG report in this Form 4?

The Form 4 reports that director Charles R. Wesley IV, via the Charles R. Wesley IV Revocable Trust, purchased 13,000 shares of Hallador Energy common stock.

On what date did the HNRG insider stock purchase occur?

The Hallador Energy insider purchase took place on 11/21/2025, as disclosed in the Form 4.

What price did the HNRG director pay per share in this transaction?

The director paid $19.2819 per share for the 13,000 Hallador Energy common shares acquired.

How many HNRG shares does the trust beneficially own after the transaction?

After the reported transaction, the Charles R. Wesley IV Revocable Trust beneficially owns 247,914 shares of Hallador Energy common stock indirectly.

How many HNRG shares does the director hold directly after this filing?

In addition to the trust holdings, Charles R. Wesley IV directly owns 91,270 shares of Hallador Energy common stock.

What is the reporting person’s relationship to Hallador Energy?

The reporting person, Charles R. Wesley IV, is identified in the Form 4 as a director of Hallador Energy.