HPK Amendment No.6: Hightower Retires; Three-Member Committee Now Manages Filings

Rhea-AI Filing Summary

This Amendment No. 6 to the Schedule 13D updates ownership and governance details for HighPeak Energy, Inc. (Common Stock). The filing is made by a group of HighPeak-related entities that collectively own approximately 64.4% of the company. Individual cover-page disclosures show holdings such as 44,498,461 shares (35.3%) attributed to HighPeak Energy Partners, LP; 39,642,461 shares (31.4%) to HighPeak Energy, LP; 36,740,593 shares (29.1%) to HighPeak Energy II, LP; and 4,856,000 shares (3.8%) to HighPeak Pure Acquisition, LLC.

The amendment states that on September 15, 2025 Jack Hightower retired from managing the Filing Parties and ceased to be a beneficial owner of more than 5% of the Common Stock. Management of the Filing Parties is now by a three-member committee of Michael Hollis, Daniel Silver and Ryan Hightower, with decisions requiring a majority. The filing also discloses no transactions in the Common Stock by the Filing Parties in the past 60 days.

Positive

• Clear disclosure of ownership percentages and share counts for each filing party
• Aggregate ownership information provided showing the Filing Parties collectively own approximately 64.4% of common stock
• Governance change disclosed with identification of the new three-member committee managing the Filing Parties

Negative

• High ownership concentration among related parties (multiple entities report >29% holdings), which centralizes control
• Retirement of Jack Hightower resulting in the cessation of his beneficial ownership >5%, a notable management/ownership shift

Insights

Financial Analyst

TL;DR: Significant insider group ownership remains concentrated but governance shifted to a three-member committee after Hightower's retirement.

The filing confirms that HighPeak-related entities maintain a controlling ownership stake (collectively ~64.4%). That level of concentration can materially influence corporate decisions, capital allocation and strategic direction because the Filing Parties hold large single-entity percentages (multiple positions exceed 29% and 31%). The disclosure of no transactions in the past 60 days limits short-term trading signal interpretation. Investors should note the explicit percentages and aggregate share counts reported.

Corporate Governance Expert

TL;DR: Governance responsibility moved from one individual to a three-member committee; voting control remains centralized within related entities.

The amendment documents an internal governance change: Jack Hightower retired from managerial duties on September 15, 2025, and voting/dispositive authority for the Filing Parties is exercised by a three-member committee (Hollis, Silver, Ryan Hightower) requiring a majority for actions. The filing also references the "rule of three," which can affect beneficial owner attribution for each individual. The persistence of a grouped ownership structure retaining ~64.4% indicates continued de facto control by the Filing Parties.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

HighPeak Energy, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

43114Q105

(CUSIP Number)

Daniel Silver
421 W. 3rd Street, Suite 1000
Fort Worth, TX, 75102
817-850-9200

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/15/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak Energy Partners, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 44,498,461.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 44,498,461.00

11

Aggregate amount beneficially owned by each reporting person

44,498,461.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

35.3 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak Energy, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 39,642,461.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 39,642,461.00

11

Aggregate amount beneficially owned by each reporting person

39,642,461.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

31.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak Energy II, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,740,593.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,740,593.00

11

Aggregate amount beneficially owned by each reporting person

36,740,593.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

29.1 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak Pure Acquisition, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,856,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,856,000.00

11

Aggregate amount beneficially owned by each reporting person

4,856,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.8 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak Energy Partners GP, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 44,498,461.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 44,498,461.00

11

Aggregate amount beneficially owned by each reporting person

44,498,461.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

35.3 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 44,498,461.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 44,498,461.00

11

Aggregate amount beneficially owned by each reporting person

44,498,461.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

35.3 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak Energy GP II, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,740,593.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,740,593.00

11

Aggregate amount beneficially owned by each reporting person

36,740,593.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

29.1 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak Energy Partners II, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,740,593.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,740,593.00

11

Aggregate amount beneficially owned by each reporting person

36,740,593.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

29.1 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak GP II, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,740,593.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,740,593.00

11

Aggregate amount beneficially owned by each reporting person

36,740,593.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

29.1 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HighPeak Energy Partners GP II, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,740,593.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,740,593.00

11

Aggregate amount beneficially owned by each reporting person

36,740,593.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

29.1 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 43114Q105

1

Name of reporting person

HIGHTOWER JACK

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.0001 per share
(b)	Name of Issuer: HighPeak Energy, Inc.
(c)	Address of Issuer's Principal Executive Offices: 421 W. 3RD STREET, SUITE 1000, FORT WORTH, TEXAS , 76102.
Item 1 Comment: This Amendment No. 6 (this "Amendment") supplements the information set forth in the Schedule 13D dated August 31, 2020, filed by the Filing Parties on August 31, 2020, as amended and supplemented from time to time (the "Schedule 13D"), with respect to the Common Stock of the Company. The Schedule 13D is no longer a joint filing with Mr. Jack Hightower and is being filed solely by the parties identified herein. Capitalized terms used but not defined in this Amendment shall have the meanings set forth on the Schedule 13D. Except as amended and supplemented by this Amendment, the Schedule 13D remains unchanged.
Item 2.	Identity and Background
(a)	This Schedule 13D is filed by HighPeak Energy, LP, a Delaware limited partnership ("HP I"), HighPeak Energy II, LP, a Delaware limited partnership ("HP II"), HighPeak Pure Acquisition, LLC, a Delaware limited liability company ("Sponsor"), HighPeak Energy Partners, LP, a Delaware limited partnership ("HPEP I"), HighPeak Energy Partners II, LP, a Delaware limited partnership ("HPEP I"), HighPeak Energy GP, LLC, a Delaware limited liability company ("HPE GP I"), HighPeak Energy GP II, LLC, a Delaware limited liability company ("HPE GP II"), HighPeak Energy Partners GP, LP, a Delaware limited partnership ("HPEP GP I"), HighPeak Energy Partners GP II, LP, a Delaware limited partnership ("HPEP GP II"), HighPeak GP, LLC, a Delaware limited liability company ("HP GP I") and HighPeak GP II, LLC, a Delaware limited liability company ("HP GP II" and, together with the foregoing entities, the "Filing Parties") pursuant to their agreement to the joint filing of this Schedule 13D attached hereto as Exhibit A. The general partner of HP I is HPE GP I. The sole member of HPE GP I is HPEP I, whose general partner is HPEP GP I. The general partner of HPEP GP I is HP GP I. A Majority of the Members and John Paul Dejoria Family Trust ("JDPFT") has the right to appoint all managers to the board of managers of HP GP I. The general partner of HP II is HPE GP II. The sole member of HPE GP II is HPEP II. The general partner of HPEP II is HPEP GP II. The general partner of HPEP GP II is HP GP II. A Majority of the Members and JPDFT have the right to appoint all managers to the board of managers of HP GP II. On September 15, 2025, Mr. Hightower retired from managing the Filing Parties which collectively own approximately 64.4% of the shares of common stock of the Company. Following Mr. Hightower's retirement, the Filing Parties are managed by a three-member committee composed of Messrs. Michael Hollis, Daniel Silver and Ryan Hightower. Each member has one vote, and the approval of a majority of the members is required to approve an action of the Filing Parties. Under the so-called "rule of three," if voting and dispositive decisions regarding an entity's securities are made by three or more individuals, and a voting and dispositive decision requires the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the entity's securities.
(b)	The principal business address of Filing Parties is 421 W. 3rd Street, Suite 1000, Fort Worth, Texas 76102.
(c)	The principal business of the Filing Parties is to acquire, operate and manage assets on behalf of qualified purchasers.
(d)	During the last five years, none of the Filing Parties or any of their respective executive officers or managers has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	During the last five years, none of the Filing Parties or any of their respective executive officers or managers was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	The information from the response in subpart (a) of this section is incorporated by reference herein.
Item 5.	Interest in Securities of the Issuer
(a)	The information contained in rows 7, 8, 9, 10, 11 and 13 on the cover page of Schedule 13D is incorporated by reference herein. If the Filing Parties named in Item 2 are deemed to be a group, such group would beneficially own 81,239,054 shares of Common Stock
(b)	The information contained in rows 7, 8, 9, 10, 11 and 13 on the cover page of this Schedule 13D is incorporated by reference herein.
(c)	The responses to Item 3 and 4 of this Schedule 13D are incorporated by reference herein. Except as disclosed herein, the Filing Parties have not effected any transactions in Common Stock during the past 60 days.
(d)	Not applicable.
(e)	Mr. Hightower ceased to be the beneficial owner of more than five percent of the Common Stock on September 15, 2025.
Item 7.	Material to be Filed as Exhibits.
	99.1 Agreement Regarding the Joint Filing of Schedule 13D by and among the Filing Parties.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

HighPeak Energy Partners, LP

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager HighPeak Energy GP, LLC, its General Partner
Date:	09/17/2025

HighPeak Energy, LP

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager HighPeak Energy Partners GP, LP, its General Partner
Date:	09/17/2025

HighPeak Energy II, LP

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager HighPeak Energy Partners GP II, LP, its General Partner
Date:	09/17/2025

HighPeak Pure Acquisition, LLC

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager HighPeak Energy Partners, LP, its Sole Member
Date:	09/17/2025

HighPeak Energy Partners GP, LP

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager HighPeak GP, LLC, its General Partner
Date:	09/17/2025

HighPeak GP, LLC

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager
Date:	09/17/2025

HighPeak Energy GP II, LLC

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager HighPeak Energy Partners II, LP, its Sole Member
Date:	09/17/2025

HighPeak Energy Partners II, LP

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager HighPeak Energy GP II, LLC, its General Partner
Date:	09/17/2025

HighPeak GP II, LLC

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager
Date:	09/17/2025

HighPeak Energy Partners GP II, LP

Signature:	/s/ Daniel Silver
Name/Title:	Daniel Silver/Manager HighPeak GP II, LLC, its General Partner
Date:	09/17/2025

HIGHTOWER JACK

Signature:	/s/ Jack Hightower
Name/Title:	Jack Hightower/Self
Date:	09/17/2025

FAQ

Who filed the Schedule 13D/A for HighPeak Energy (HPK)?

The filing was made by multiple HighPeak-related entities collectively referred to as the Filing Parties, including HighPeak Energy, LP; HighPeak Energy II, LP; HighPeak Energy Partners, LP; HighPeak Pure Acquisition, LLC; and related GP entities.

How many HighPeak Energy shares do the Filing Parties beneficially own?

If deemed a group, the Filing Parties would beneficially own 81,239,054 shares of Common Stock; the filing also states they collectively own approximately 64.4% of the shares.

What material governance change was disclosed in this amendment?

On September 15, 2025 Jack Hightower retired from managing the Filing Parties. Management is now exercised by a three-member committee of Michael Hollis, Daniel Silver and Ryan Hightower.

Did the Filing Parties trade HPK shares in the last 60 days?

The amendment states that, except as disclosed, the Filing Parties have not effected any transactions in Common Stock during the past 60 days.

Which individual entities reported the largest single holdings?

HighPeak Energy Partners, LP reported 44,498,461 shares (35.3%); HighPeak Energy, LP reported 39,642,461 shares (31.4%); and HighPeak Energy II, LP reported 36,740,593 shares (29.1%).