Indonesia Energy (NASDAQ: INDO) CEO details direct, indirect stakes and options

Rhea-AI Filing Summary

Indonesia Energy Corp Ltd Chairman and CEO Jusuf Wirawan filed an initial ownership report showing his existing stake in the company. He indirectly controls 5,222,222 ordinary shares held by Maderic Holding Limited, where he is the sole director with voting and dispositive power. He also directly holds 45,545 ordinary shares. In addition, he has options granted under the 2018 Omnibus Equity Incentive Plan to purchase 100,000 ordinary shares at $2.79 per share, fully vested since December 16, 2024 and expiring on December 16, 2029. As of March 18, 2026, these options had not been exercised.

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

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1. Name and Address of Reporting Person^*

Jusuf Wirawan

(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	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

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)
Ordinary shares	5,222,222(1)	I	By Maderic Holding Limited(1)
Ordinary shares	45,545(2)	D

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	(3)	(3)	Ordinary shares	100,000(3)	$2.79(3)	D

Explanation of Responses:

1. Represents the number of ordinary shares held of record by Maderic Holding Limited ("Maderic"). The reporting person is the sole director of Maderic, a limited liability company incorporated under the laws of Hong Kong, which is the record holder of the securities reported herein. The reporting person, as such, holds voting and dispositive control over the securities of the issuer held by Maderic and may be deemed the beneficial owner of such securities.

2. Represents the number of ordinary shares held of record by the reporting person.

3. Represents options granted on December 16, 2024 under the Issuer's 2018 Omnibus Equity Incentive Plan to purchase 100,000 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, 2029. On March 18, such options have not been exercised.

	/s/ Wirawan Jusuf	03/18/2026
	** 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)

FAQ

What does Jusuf Wirawan’s Form 3 filing show for INDO?

The Form 3 shows Jusuf Wirawan’s existing ownership in Indonesia Energy Corp Ltd. It lists indirect holdings through Maderic Holding Limited, his direct ordinary shares, and vested stock options, providing a baseline of his stake as a director, Chairman, CEO, and 10% owner.

How many Indonesia Energy (INDO) shares are held through Maderic Holding Limited?

Maderic Holding Limited holds 5,222,222 ordinary shares of Indonesia Energy. Jusuf Wirawan is Maderic’s sole director and has voting and dispositive control over these shares, so he may be deemed the beneficial owner of the stock held by this Hong Kong entity.

What direct share ownership does Jusuf Wirawan report in INDO?

Jusuf Wirawan directly holds 45,545 ordinary shares of Indonesia Energy. These shares are recorded in his own name, separate from the larger indirect position held through Maderic Holding Limited, and together they outline his combined direct and indirect equity exposure to the company.

What stock options does Jusuf Wirawan have in Indonesia Energy (INDO)?

He holds options to purchase 100,000 ordinary shares at $2.79 per share. These options were granted on December 16, 2024, are fully vested and exercisable, and will expire on December 16, 2029, giving him additional potential equity exposure if exercised.

Have Jusuf Wirawan’s INDO stock options been exercised as of March 18, 2026?

As of March 18, 2026, the 100,000 options granted to Jusuf Wirawan had not been exercised. They remain fully vested and exercisable, so he retains the right to buy ordinary shares at the fixed exercise price of $2.79 until their 2029 expiry.

Does the Form 3 for INDO report any recent insider buying or selling?

The filing lists holdings rather than new trades. It details Jusuf Wirawan’s indirect shares via Maderic Holding Limited, his direct ordinary shares, and unexercised options. No open-market purchases or sales are reported, making this a baseline ownership disclosure, not a transaction update.