[6-K] PAMPA ENERGIA S.A. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Shimmick Corp. (SHIM) – Form 4 insider transaction

Director and 10% owner Mitchell B. Goldsteen, acting through his wholly owned entity GOHO, LLC, executed three open-market sales under a Rule 10b5-1 plan:

• 21 Jul 2025: 800 shares at a weighted-average $2.16
• 22 Jul 2025: 18,316 shares at a weighted-average $2.10
• 23 Jul 2025: 28,223 shares at a weighted-average $2.10

Total shares sold: 47,339, for ~$0.1 million in gross proceeds. Following the transactions, Goldsteen’s indirect stake stands at 21,264,583 common shares, still representing the overwhelming majority of his position.

No derivative transactions were reported. The filing indicates that full trade-by-trade pricing details are available on request.

Positive

• Sales executed under a pre-arranged Rule 10b5-1 plan, reducing concerns about opportunistic trading.
• Transparent disclosure of weighted-average price ranges indicates command of SEC best practices.

Negative

• Insider selling, even if small, can be perceived negatively by some investors.
• Share ownership remains highly concentrated, which may affect float and governance balance.

Insights

Equity Analyst

TL;DR: Minor 10b5-1 insider sale; immaterial vs. 21.3 M share holding—neutral signal.

The reported 47 K-share sale equals roughly 0.2% of Goldsteen’s ownership and an even smaller slice of SHIM’s public float. Because the trades were pre-scheduled under a Rule 10b5-1 plan, they likely do not reflect a changed fundamental view. Cash proceeds are modest (~$0.1 M) and no derivatives were involved, limiting signaling value. Investors should view the filing as routine, though it confirms the large insider concentration (over 21 M shares) that could influence future liquidity.

Corporate Governance Specialist

TL;DR: Planned, disclosed, low-volume sales—governance compliant, impact negligible.

The adherence to a 10b5-1 plan and detailed weighted-average price disclosure demonstrates good governance practices. The minimal percentage sold suggests no near-term exit strategy. However, the filing reminds investors that control remains highly concentrated in a single insider entity, posing ongoing governance and liquidity considerations.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

SECURITIES EXCHANGE ACT OF 1934

For the month of July, 2025

(Commission File No. 001-34429),

PAMPA ENERGIA S.A.
(PAMPA ENERGY INC.)

Argentina

(Jurisdiction of incorporation or organization)

Maipú 1
C1084ABA
City of Buenos Aires
Argentina

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F ___X___ Form 40-F ______

(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.)

Yes ______ No ___X___

(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- .)

This Form 6-K for Pampa Energía S.A. (“Pampa” or the “Company”) contains:

Exhibit 1: Letter dated July 23, 2025 entitled “Relevant event. Credit rating of the company.”

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: July 23, 2025

Pampa Energía S.A.
By:	/s/ Gustavo Mariani
	Name: Gustavo Mariani Title:   Chief Executive Officer

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will a ctually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.