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Hallador Energy Company is soliciting proxies for its 2026 Annual Meeting, to be held on May 27, 2026 in Lone Tree, Colorado, for shareholders of record as of April 7, 2026. Shareholders will vote on electing seven directors for one-year terms, an advisory approval of named executive officer pay, and ratification of Grant Thornton LLP as independent auditor for 2026. As of April 7, 2026, 47,130,392 shares of common stock were outstanding, with directors and officers holding 8,215,532 shares, or 17.43%. The Board remains majority independent and all three key committees are fully independent. Non‑employee director retainers rose to $75,000 in 2025 and will increase to $200,000 effective 2026, with half paid in equity via restricted stock units. Executive bonuses are tied to safety metrics, adjusted EBITDA and discretionary factors, leading to a 163% of target bonus payout for 2025 after most performance goals were met or exceeded.
Hallador Energy Company adopted a new 2026 executive officer compensation plan covering April 1, 2026 to March 31, 2027, replacing its prior program. The Board raised annual base salaries, including CEO Brent Bilsland from $675,000 to $800,000, and increased pay for the CFO and COO.
The plan sets 2026 bonus targets of $500,000 for the CEO, $200,000 for the CFO, and $300,000 for the COO, tied mainly to safety metrics and Adjusted EBITDA with a target of $68.0M. Payouts scale from threshold to maximum based on performance.
The Board also granted one-time RSU awards valued at about $1.2M, $275,000, and $400,000 for the CEO, CFO, and COO, using a $17.19 10-day VWAP, vesting over three years and fully vesting on a change in control. New severance and change-in-control retention arrangements provide salary- and bonus-based cash payments and up to 24 months of healthcare coverage upon qualifying terminations or a sale.
Hallador Energy Chief Operating Officer Heath Aaron Lovell exercised restricted stock units into common shares. He acquired 40,864 shares of common stock at $16.28 per share through the conversion of RSUs. To cover tax obligations, 18,103 common shares were withheld in a tax-withholding disposition. After these transactions, he directly held 170,816 shares of Hallador Energy common stock. Each RSU represented a contingent right to one share under the company’s Amended and Restated 2008 RSU Plan.
Hallador Energy President and CEO Brent K. Bilsland reported routine equity compensation activity. On March 31, 2026, he converted 105,079 Restricted Stock Units into an equal number of common shares at $0.00 per share under the Amended and Restated 2008 RSU Plan.
The filing also shows earlier activity on March 31, 2025, when he acquired 105,079 common shares at $16.28 per share through a derivative exercise, with 45,972 shares withheld to cover tax obligations. Following that 2025 transaction, he held 1,146,495 common shares directly, and a separate entry reports 366,397 shares held indirectly through the Alexa Bilsland Revocable Trust.
Hallador Energy Company reported a mine safety event involving its subsidiary Sunrise Coal, LLC. On March 25, 2026, federal mine regulators issued an imminent danger order at the Oaktown Fuels Mine No. 1 in Knox County, Indiana, after alleging an electrician worked on equipment that was not de-energized.
The order required work to stop until the equipment was de-energized, which mine personnel did immediately. No injuries occurred and production at the mine was not interrupted. Hallador Energy states it disagrees that the situation constituted an imminent danger under the Mine Act and plans to contest the Section 107(a) order.
Hallador Energy Co — The Vanguard Group filed an Amendment No. 1 to a Schedule 13G/A stating it beneficially owns 0 shares of Hallador Energy common stock, representing 0% of the class.
The filing explains an internal realignment effective January 12, 2026 that caused certain Vanguard subsidiaries or business divisions to report beneficial ownership separately. The filing is signed by Ashley Grim, Head of Global Fund Administration, dated 03/26/2026.
HALLADOR ENERGY CO director Daniel Timothy Hudson filed an initial ownership report on Form 3. This filing lists him as a director of the company but does not report any stock transactions or derivative positions. It establishes his status as an insider for future ownership disclosures.
Hallador Energy Company reported a strong turnaround for 2025, with total sales and operating revenues rising 16% year over year to $469.5 million and net income improving to $41.9 million from a prior-year loss of $226.1 million. Operating cash flow increased 23% to $81.1 million, while Adjusted EBITDA nearly tripled to $56.0 million, reflecting better profitability after prior asset impairments.
The company advanced its strategy as an independent power producer, with MISO accepting its ERAS application for a proposed 515 MW natural gas generator at the Merom site, backed by an approximately $14 million deposit. If successfully executed, management states this expansion would represent a nearly 50% increase in power generation capabilities, targeting completion by the third quarter of 2029. Hallador also highlighted a sizable contracted revenue position, including total consolidated contracted revenue of $866.94 million across 2026–2029.
Hallador Energy Company files its annual report outlining its role as a vertically integrated independent power producer and coal supplier centered in Indiana. The company owns the 1,080 MW coal‑fired Merom plant within MISO and operates Sunrise underground mines in the Illinois Basin.
Electric operations sell accredited capacity and energy through long‑term contracts and wholesale markets, while coal operations supply Merom and third‑party utilities across the Midwest and Southeast. As of June 30, 2025, public float was valued at $520,726,758, and as of March 10, 2026, shares outstanding were 47,023,495.
Hallador highlights heavy environmental, safety and regulatory oversight from FERC, MSHA, OSHA, EPA and others, extensive permitting and bonding requirements, and evolving climate and water rules that could raise costs or constrain coal‑fired generation. It also discloses customer concentration, long‑term coal and power contracts through 2028, prior coal asset impairments and ongoing credit, ESG, cyber and climate‑transition risks.
Van Deman Eric Matthew reported acquisition or exercise transactions in this Form 4 filing.
Hallador Energy reported that Chief Accounting Officer Eric Matthew Van Deman received a grant of 9,973 Restricted Stock Units (RSUs), each representing a contingent right to one share of common stock. The award is made under the 2nd Amended and Restated 2008 RSU Plan.
The RSUs vest in two tranches: 4,986 units on December 1, 2026 and 4,987 units on December 1, 2027, in each case subject to his continued service through the applicable vesting date. The units will also vest in full if he remains in service through a qualifying change in control, after which vested shares will be delivered pursuant to the plan.