HighPeak Energy (HPK) CAO awarded 25,000 restricted shares in Form 4

Rhea-AI Filing Summary

HighPeak Energy, Inc. reported that its Chief Accounting Officer and Controller, Keith E. Forbes, received an award of 25,000 shares of restricted common stock on 01/09/2026 at a stated price of $0 per share. These restricted shares vest in three equal installments: one-third on each of the first, second, and third anniversaries of the grant date.

After this award, Mr. Forbes directly holds 25,000 shares of common stock. He also has indirect ownership of 14,000 shares held through his investment vehicle and an additional 250 shares held by his wife, for which he disclaims beneficial ownership except to the extent of any pecuniary interest.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Forbes Keith E

Role CAO and Controller

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.0001 per share	25,000	$0.00	--
holding	Common Stock, par value $0.0001 per share	--	--	--
holding	Common Stock, par value $0.0001 per share	--	--	--

Holdings After Transaction: Common Stock, par value $0.0001 per share — 25,000 shares (Direct); Common Stock, par value $0.0001 per share — 14,000 shares (Indirect, See Footnote)

Footnotes (1)

1. The shares of restricted common stock vest in three equal installments: one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the date of the grant and one-third on the third anniversary of the date of the grant. Shares held by the reporting person's investment vehicle. The reporting person disclaims beneficial ownership of the common stock held by the reporting person's wife (the "Record Holder") except to the extent of his pecuniary interest in the Record Holder, and this report shall not be deemed an admission that he is the beneficial ownership of such securities for purposes of Section 16 or for any other purpose. The reporting person disclaims beneficial ownership of the securities held by his wife, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

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^*

Forbes Keith E

(Last) (First) (Middle)

421 W. 3RD STREET, SUITE 1000

(Street)

FORT WORTH TX 76102

(City) (State) (Zip)

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

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CAO and Controller

3. Date of Earliest Transaction (Month/Day/Year)
01/09/2026

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, par value $0.0001 per share	01/09/2026		A		25,000(1)	A	$0	25,000	D
Common Stock, par value $0.0001 per share								14,000	I	See Footnote(2)
Common Stock, par value $0.0001 per share								250	I	By Wife(3)

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. The shares of restricted common stock vest in three equal installments: one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the date of the grant and one-third on the third anniversary of the date of the grant.

2. Shares held by the reporting person's investment vehicle.

3. The reporting person disclaims beneficial ownership of the common stock held by the reporting person's wife (the "Record Holder") except to the extent of his pecuniary interest in the Record Holder, and this report shall not be deemed an admission that he is the beneficial ownership of such securities for purposes of Section 16 or for any other purpose. The reporting person disclaims beneficial ownership of the securities held by his wife, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

	/s/ Steven W. Tholen as Attorney in Fact for Keith Forbes	01/09/2026
	** 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.

FAQ

What insider transaction did HighPeak Energy (HPK) disclose for Keith E. Forbes?

HighPeak Energy disclosed that Keith E. Forbes, its Chief Accounting Officer and Controller, received an award of 25,000 shares of restricted common stock on 01/09/2026 at a stated price of $0 per share.

How do the 25,000 restricted HighPeak Energy (HPK) shares vest?

The 25,000 restricted shares vest in three equal installments: one-third on the first anniversary of the grant date, one-third on the second anniversary, and one-third on the third anniversary.

How many HighPeak Energy (HPK) shares does Keith E. Forbes own directly after this Form 4?

Following the reported transaction, Keith E. Forbes directly owns 25,000 shares of HighPeak Energy common stock.

What indirect HighPeak Energy (HPK) holdings are reported for Keith E. Forbes?

The filing shows 14,000 shares held indirectly through Mr. Forbes' investment vehicle and 250 shares held by his wife. He disclaims beneficial ownership of the shares held by his wife except to the extent of his pecuniary interest.

Was this HighPeak Energy (HPK) insider transaction a purchase or an award?

The Form 4 reports the transaction with code A, indicating an acquisition of 25,000 restricted shares, which function as an equity award at a stated price of $0 per share.

Who signed the HighPeak Energy (HPK) Form 4 for Keith E. Forbes?

The Form 4 was signed by /s/ Steven W. Tholen acting as Attorney-in-Fact for Keith Forbes on 01/09/2026.