Hallador Energy Company filings document the formal disclosures of an operating energy company with electric operations and coal operations in Indiana. The record includes 8-K reports on operating and financial results, material definitive agreements, senior secured credit facilities, and capital-structure terms such as revolving credit, delayed draw term loans, letters of credit, security interests, maturity, and leverage-based interest pricing.
Hallador’s filings also cover proxy governance, executive compensation plans, board appointments, director compensation, shareholder voting matters, and enterprise risk oversight through a board risk committee. Additional disclosures address mine-safety reporting for the Sunrise Coal subsidiary and Oaktown operations, along with risk, compliance, market, financial, operational, and cybersecurity oversight matters.
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.
Hallador Energy Company entered into a new $120 million senior secured Credit Agreement on March 5, 2026, providing a $75 million revolving credit facility and a $45 million delayed draw term loan facility maturing on March 5, 2029. The revolver includes a $25 million letter-of-credit subfacility and a $10 million swingline subfacility, plus an accordion feature for up to $25 million of additional commitments.
Borrowings accrue interest at either a Base Rate or Term SOFR plus margins that vary with Hallador’s total leverage ratio, and the company pays a 0.50% fee on unused revolver commitments. The facilities include leverage, liquidity and coverage covenants and are secured by substantially all assets of Hallador and certain subsidiaries. Hallador is using the new facilities to refinance its prior PNC Bank credit agreement and to support working capital, general corporate purposes and potential strategic growth initiatives, while extending its debt maturity profile and enhancing liquidity.
Hallador Energy Company reported leadership changes focused on its power and coal operations. The company appointed industry veteran Daniel Hudson to its Board of Directors effective March 6, 2026, expanding the Board to seven members, six of whom are independent under Nasdaq standards.
Effective the same date, Heath Lovell was promoted to Chief Operating Officer while continuing as President of Hallador Power Company, LLC and Sunrise Coal, LLC. The company plans to finalize his compensation arrangements later. Barbara Ann Sugg was also added to the Audit and Compensation Committees. These changes were summarized in a press release attached as Exhibit 99.1.
Hallador Alternative Assets Fund LLC and related parties filed Amendment No. 13 reporting their beneficial ownership in Hallador Energy Company’s common stock. HAAF holds 1,584,929 shares, representing 3.62% of the outstanding shares, based on 43,825,006 shares disclosed in a recent quarterly report.
Through their advisory and management roles over HAAF, Hallador Investment Advisors, Hallador Management, David C. Hardie and Kevin Leary may each be deemed to beneficially own these 1,584,929 shares, with Hardie and Leary also holding small additional direct stakes. Hardie resigned from Hallador Energy’s board of directors effective January 1, 2026.
BlackRock, Inc. has disclosed a significant ownership stake in Hallador Energy Co common stock. As of 12/31/2025, BlackRock reports beneficial ownership of 2,270,441 shares, representing 5.2% of Hallador’s outstanding common stock. It has sole power to vote 2,229,176 shares and sole power to dispose of 2,270,441 shares, with no shared voting or dispositive power.
The filing explains that these holdings are attributed to certain BlackRock business units, and that various underlying clients or investors have the right to receive dividends or sale proceeds, with no single such person exceeding 5% of Hallador’s common shares. BlackRock certifies that the position was acquired and is held in the ordinary course of business, and not for the purpose of changing or influencing control of Hallador Energy.
Hallador Energy (HNRG) director reports no share ownership. Barbara Ann Sugg, identified as a director of Hallador Energy Company, filed an initial Form 3 stating that she beneficially owns no non-derivative or derivative securities of the company. The statement relates to an event dated 01/01/2026 and confirms that, as of that date, she did not hold Hallador Energy stock or related derivative instruments in either direct or indirect form.
Hallador Energy director Zarrell Gray reported buying additional company stock. On January 14, 2026, Gray purchased 13,888 shares of Hallador Energy common stock at $18 per share in connection with a firm commitment underwritten offering. After this transaction, Gray directly owned 76,480 common shares of the company. The filing was made on a Form 4, which discloses changes in insider ownership.
Hallador Energy director Wesley Charles Ray IV reported an insider purchase of the company’s common stock. On January 14, 2026, an entity associated with him, the Charles R. Wesley IV Revocable Trust, purchased 55,555 shares of Hallador Energy common stock at $18 per share in connection with a firm commitment underwritten offering.
After this transaction, the trust held 323,469 common shares indirectly, while Wesley Charles Ray IV also held 93,862 common shares directly in his own name.
Hallador Energy Company reported that it has terminated its at-the-market equity program with B. Riley Securities, which had allowed sales of up to $100,000,000 of common stock. The termination is effective January 18, 2026 and does not trigger any penalties, meaning the company will no longer sell shares through that facility.
The company also entered into an underwriting agreement with Texas Capital Securities for an underwritten public offering of 2,777,778 shares of common stock, with a 30-day option for underwriters to buy up to 416,666 additional shares. The underwriters exercised this option in full, and the offering closed on January 15, 2026. Hallador Energy received net proceeds of approximately $53.6 million from the stock sale, after underwriting discounts, commissions and other offering expenses.