HighPeak Energy (HPK) director receives 18,940 restricted shares as board award

Rhea-AI Filing Summary

COVINGTON KEITH reported acquisition or exercise transactions in this Form 4 filing.

HighPeak Energy director Keith Covington reported an equity grant of 18,940 shares of common stock. The award is structured as restricted stock with a stated price of $0.0000 per share, reflecting that it is compensation rather than an open-market purchase.

The restricted shares vest only if he continues serving on the board until the earlier of a change of control of HighPeak Energy, Inc. or the company’s next annual meeting. After this grant, he directly holds 83,711 shares of common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider COVINGTON KEITH

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.0001 per share	18,940	$0.00	--

Holdings After Transaction: Common Stock, par value $0.0001 per share — 83,711 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted stock grant: 18,940 shares Stated grant price: $0.0000 per share Shares held after grant: 83,711 shares

3 metrics

Restricted stock grant 18,940 shares Director compensation award reported on Form 4

Stated grant price $0.0000 per share Restricted stock award price field

Shares held after grant 83,711 shares Total direct holdings following transaction

Key Terms

restricted stock, change of control, annual meeting, board of directors

4 terms

restricted stock financial

"Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

change of control financial

"vest subject to ... continuous service ... on the earlier of (i) a change of control or (ii)"

A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.

annual meeting financial

"earlier of (i) a change of control or (ii) the date of the Company's next annual meeting"

A company's annual meeting is a yearly gathering where owners (shareholders) and the board review performance, ask questions, and vote on key matters like electing directors, approving auditor choices, and sometimes setting pay or dividend policies. For investors it matters because decisions made and votes cast can change who runs the company, influence strategy and payouts, and affect the value or direction of their investment—similar to a homeowners’ meeting where rules and leaders that shape your property’s value are decided.

board of directors financial

"subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc."

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

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^*

COVINGTON KEITH

(Last) (First) (Middle)

421 W. 3RD STREET, SUITE 1000

(Street)

FORT WORTH TEXAS 76102

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HighPeak Energy, Inc. [ HPK ]

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)
06/02/2026

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, par value $0.0001 per share	06/02/2026		A		18,940(1)	A	$0	83,711	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:

1. Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the earlier of (i) a change of control or (ii) the date of the Company's next annual meeting.

	/s/ Steven W. Tholen as Attorney in Fact for Keith A. Covington	06/02/2026
	** 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)

FAQ

What did HighPeak Energy (HPK) director Keith Covington report on this Form 4?

Keith Covington reported receiving 18,940 shares of HighPeak Energy common stock as a restricted stock award. The grant is compensation-based, not an open-market purchase, and is tied to his continued service on the company’s board of directors.

How many HighPeak Energy (HPK) shares does Keith Covington hold after this transaction?

After the restricted stock grant, Keith Covington directly holds 83,711 shares of HighPeak Energy common stock. This total reflects his position following the award of 18,940 restricted shares reported in the current Form 4 filing.

What are the vesting conditions for Keith Covington’s HighPeak Energy (HPK) restricted stock?

The 18,940 restricted shares vest only if Keith Covington continues serving on HighPeak Energy’s board until the earlier of a change of control or the company’s next annual meeting, according to the Form 4 footnote disclosure.

Was Keith Covington’s HighPeak Energy (HPK) award an open-market stock purchase?

No, the Form 4 shows Keith Covington received 18,940 shares at a stated price of $0.0000 per share as a grant of restricted stock, indicating director compensation rather than an open-market purchase of HighPeak Energy shares.

Is Keith Covington’s HighPeak Energy (HPK) restricted stock grant tied to a specific event?

Yes, vesting occurs on the earlier of a change of control of HighPeak Energy or the date of the company’s next annual meeting, provided Keith Covington remains in continuous service on the board through that date.