Pampa Energy (NYSE: PAM) VP buys 50,000 ADS in open-market trades

Rhea-AI Filing Summary

Pampa Energy Inc. Vice President Gustavo Mariani bought American Depositary shares in two open-market transactions. He purchased 25,000 ADS on May 7 at $81.40 per share and another 25,000 ADS on May 8 at $81.02 per share, for a total of 50,000 ADS. After these purchases, he directly owns 1,591,184 American Depositary shares of Pampa Energy Inc.

Insider Trade Summary

Net Buyer: 50,000 shares ($4,060,500)

Net Buy 2 txns

Insider Mariani Gustavo

Role Vice President

Bought 50,000 shs ($4.06M)

Type	Security	Shares	Price	Value
Purchase	American Depositary shares	25,000	$81.02	$2.03M
Purchase	American Depositary shares	25,000	$81.40	$2.04M

Holdings After Transaction: American Depositary shares — 1,591,184 shares (Direct, null)

Footnotes (1)

Key Figures

Purchase on May 8: 25,000 shares at $81.02 Purchase on May 7: 25,000 shares at $81.40 Total shares bought: 50,000 shares +2 more

5 metrics

Purchase on May 8 25,000 shares at $81.02 Open-market buy of American Depositary shares on May 8

Purchase on May 7 25,000 shares at $81.40 Open-market buy of American Depositary shares on May 7

Total shares bought 50,000 shares Combined ADS purchased across both reported transactions

Direct holdings after trades 1,591,184 shares Total American Depositary shares held directly after May 8

Transaction code P (purchase) Both entries classified as open-market or private purchases

Key Terms

American Depositary shares, open-market purchase, Form 4

3 terms

American Depositary shares financial

"security_title: "American Depositary shares""

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

open-market purchase financial

"transaction_action: "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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^*

Mariani Gustavo

(Last) (First) (Middle)

MAIPU 1

(Street)

BUENOS AIRES 1084

(City) (State) (Zip)

ARGENTINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Pampa Energy Inc. [ PAM ]

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

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

2a. Foreign Trading Symbol
[PAM]

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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
American Depositary shares	05/07/2026	05/08/2026	P		25,000	A	$81.4	1,566,184	D
American Depositary shares	05/08/2026	05/11/2026	P		25,000	A	$81.02	1,591,184	D

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:

	Mariani Gustavo	05/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Pampa Energy (PAM) report for Gustavo Mariani?

Pampa Energy reported that Vice President Gustavo Mariani made two open-market purchases totaling 50,000 American Depositary shares. He bought 25,000 ADS on May 7 and 25,000 ADS on May 8, according to the Form 4 insider filing.

At what prices did Gustavo Mariani buy Pampa Energy (PAM) American Depositary shares?

Gustavo Mariani bought 25,000 ADS at $81.40 per share on May 7 and another 25,000 ADS at $81.02 per share on May 8. Both transactions were reported as open-market purchases in the Form 4 filing.

How many Pampa Energy (PAM) shares does Gustavo Mariani own after these purchases?

Following the reported transactions, Vice President Gustavo Mariani directly owns 1,591,184 American Depositary shares of Pampa Energy Inc. This figure reflects his total direct holdings after completing both open-market purchases disclosed in the Form 4.

Were Gustavo Mariani’s Pampa Energy (PAM) trades open-market purchases?

Yes. Both transactions for Pampa Energy involved open-market purchases of American Depositary shares, coded as “P” on the Form 4. Each trade added 25,000 ADS to his direct holdings at prices slightly above $81 per share.

What is the total number of Pampa Energy (PAM) shares bought by Gustavo Mariani in this Form 4?

In this Form 4, Vice President Gustavo Mariani is reported to have bought a total of 50,000 American Depositary shares. The purchases were split evenly across two days, with 25,000 ADS acquired on each trading day.