HighPeak Energy (HPK) director Larry Oldham receives 18,940-share restricted stock grant

Rhea-AI Filing Summary

OLDHAM LARRY reported acquisition or exercise transactions in this Form 4 filing.

HighPeak Energy, Inc. director Larry Oldham reported an award of 18,940 shares of common stock as restricted stock compensation. The award carries a price of $0.00 per share and vests if he continues serving on the board until the earlier of a change of control or the next annual shareholder meeting.

After this grant, Oldham directly holds 85,710 shares of HighPeak Energy common stock. He also has an additional 28,500 shares held indirectly through a family limited partnership, which are reported as indirect ownership.

Insights

Equity compensation analyst

Routine director equity grant with standard vesting terms and no open-market buying or selling.

The filing shows director Larry Oldham received 18,940 restricted shares of HighPeak Energy common stock at $0.00 per share, reflecting stock-based board compensation rather than cash. Vesting depends on his continued board service.

The award vests on the earlier of a change of control or the next annual meeting, which is a common structure aligning director incentives with company and shareholder outcomes. The filing also notes 28,500 shares held indirectly via a family limited partnership, indicating additional exposure but no new market transaction.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider OLDHAM LARRY

Role null

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

Holdings After Transaction: Common Stock, par value $0.0001 per share — 85,710 shares (Direct, null); Common Stock, par value $0.0001 per share — 28,500 shares (Indirect, See Footnote)

Footnotes (1)

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. Shares held by Reporting Person's family limited partnership.

Key Figures

Restricted stock grant: 18,940 shares Grant price: $0.00 per share Direct holdings after grant: 85,710 shares +2 more

5 metrics

Restricted stock grant 18,940 shares Common stock award on June 2, 2026

Grant price $0.00 per share Restricted stock compensation, not open-market trade

Direct holdings after grant 85,710 shares Common stock directly owned following the award

Indirect holdings 28,500 shares Shares held via family limited partnership

Vesting trigger Earlier of change of control or next annual meeting Restricted stock vesting condition tied to board service

Key Terms

restricted stock, change of control, annual meeting, family limited partnership

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

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

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

"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.

family limited partnership financial

"Shares held by Reporting Person's family limited partnership."

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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^*

OLDHAM LARRY

(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	85,710	D
Common Stock, par value $0.0001 per share								28,500	I	See Footnote(2)

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.

2. Shares held by Reporting Person's family limited partnership.

	/s/ Steven W. Tholen as Attorney in Fact for Larry C Oldham	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 Larry Oldham report in this Form 4 for HighPeak Energy (HPK)?

Larry Oldham reported receiving an award of 18,940 shares of HighPeak Energy common stock as restricted stock. This is compensation for board service, not an open-market purchase, and increases his reported direct holdings to 85,710 shares after the transaction.

Is Larry Oldham buying or selling HPK stock in this filing?

The filing does not show open-market buying or selling of HPK stock. It reports a grant of 18,940 restricted shares as compensation, priced at $0.00 per share, which increases Oldham’s direct ownership rather than reflecting a discretionary trade.

What are the vesting conditions for Larry Oldham’s 18,940 restricted HPK shares?

The 18,940 restricted shares vest if Larry Oldham continues serving on HighPeak Energy’s board. Vesting occurs on the earlier of a change of control of the company or the date of the company’s next annual shareholder meeting, subject to his continuous service.

How many HighPeak Energy (HPK) shares does Larry Oldham hold after this grant?

After the grant, Larry Oldham directly holds 85,710 shares of HighPeak Energy common stock. In addition, 28,500 shares are reported as indirectly owned through a family limited partnership, giving him significant reported exposure to HPK equity overall.

What does indirect ownership through a family limited partnership mean in this HPK Form 4?

Indirect ownership indicates shares are held by an entity rather than personally. In this case, 28,500 HighPeak Energy shares are held by a family limited partnership associated with Larry Oldham, so they are reported as indirectly owned rather than as direct personal holdings.

Is this HighPeak Energy (HPK) Form 4 filing considered a major insider transaction?

This Form 4 reflects a routine equity compensation grant of 18,940 restricted shares to a director, not a large discretionary trade. There are no reported open-market buys or sells, making it more of a standard governance and compensation disclosure than a major transaction.