Indonesia Energy (INDO) director holds 20,000 vested stock options

Rhea-AI Filing Summary

Indonesia Energy Corp Ltd director Dharmawan Benny reported holding options to purchase 20,000 ordinary shares. These options were granted on December 16, 2024 at an exercise price of $2.79 per share, became fully vested and exercisable on that date, and expire on December 16, 2034. As of March 27, 2026, the options remain unexercised.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Dharmawan Benny

Role Director

Type	Security	Shares	Price	Value
holding	Options	--	--	--

Holdings After Transaction: Options — 20,000 shares (Direct)

Footnotes (1)

1. F1. Represents options granted on December 16, 2024 under the Issuer's 2018 Omnibus Equity Incentive Plan to purchase 20,000 ordinary shares of the Issuer at $2.79 per share, which were fully vested and exercisable on December 16, 2024, with expiry on December 16, 2034. On March 27, 2026, such options have not been exercised.

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Accepted by SEC EDGAR 03/27/2026 - 05:16 PM Learn about SEC filing dates

FAQ

What insider position did Dharmawan Benny report at Indonesia Energy (INDO)?

Dharmawan Benny reported holding options to buy 20,000 Indonesia Energy ordinary shares. The options are a form of equity compensation, fully vested and exercisable, giving him the right—but not the obligation—to purchase shares at a fixed exercise price of $2.79.

When were the Indonesia Energy (INDO) options granted to Dharmawan Benny and when do they expire?

The options were granted on December 16, 2024 and expire on December 16, 2034. This 10-year term defines how long Benny can choose to exercise his right to purchase 20,000 ordinary shares at the fixed exercise price.

What is the exercise price of Dharmawan Benny’s options in Indonesia Energy (INDO)?

The options allow purchase of Indonesia Energy ordinary shares at an exercise price of $2.79 per share. This fixed price does not change over the life of the option, so Benny can exercise at $2.79 regardless of future market price movements during the option term.

Are Dharmawan Benny’s Indonesia Energy (INDO) options currently vested and exercisable?

Yes. The options became fully vested and exercisable on December 16, 2024. This means there are no remaining service or time conditions, and Benny can choose to exercise the options any time before their scheduled expiration on December 16, 2034, subject to applicable rules.

Has Dharmawan Benny exercised any of his Indonesia Energy (INDO) options yet?

No. As of March 27, 2026, the 20,000 options reported for Dharmawan Benny have not been exercised. They remain outstanding, fully vested, and exercisable, representing a potential future right to acquire ordinary shares at the fixed $2.79 exercise price.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Dharmawan Benny

(Last) (First) (Middle)

C/O GIESMART PLAZA 7TH FLOOR

JL. RAYA PASAR MINGGU NO. 17A

(Street)

JAKARTA 12780

(City) (State) (Zip)

INDONESIA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Indonesia Energy Corp Ltd [ INDO ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

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

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

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options	(1)	(1)	Ordinary shares	20,000(1)	$2.79(1)	D

Explanation of Responses:

1. Represents options granted on December 16, 2024 under the Issuer's 2018 Omnibus Equity Incentive Plan to purchase 20,000 ordinary shares of the Issuer at $2.79 per share, which were fully vested and exercisable on December 16, 2024, with expiry on December 16, 2034. On March 27, 2026, such options have not been exercised.

	/s/ Benny Dharmawan	03/27/2026
	** 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 5 (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 3: SEC 1473 (03-26)