Major Pampa Energy (NYSE: PAM) shareholder adds 275,000 shares in open-market buy

Rhea-AI Filing Summary

Pampa Energy Inc. director and ten-percent owner Marcos Marcelo Mindlin reported an open-market purchase of 275,000 shares of Cammon Stock on 2026-05-27. The shares were bought at an average price of $3.367 per share.

Following this transaction, Mindlin directly holds 21,646,973 shares. The filing notes that prices were converted to U.S. dollars using an ARS/USD exchange rate of 1,412.5 on the trade date, as reported by Bloomberg.

Insights

Insider trading analyst

Large existing shareholder added 275,000 shares in an open-market buy.

Director and ten-percent owner Marcos Marcelo Mindlin executed an open-market purchase of 275,000 Pampa Energy Inc. shares at $3.367 per share. Open-market purchases are active decisions and generally carry stronger informational content than grants or tax-related transactions.

After the trade, Mindlin’s direct holdings total 21,646,973 shares, indicating he remains a major shareholder and the purchased amount is small relative to his overall position. No derivative positions are reported in this filing, and the transaction summary shows a net-buy profile.

The filing specifies that trade prices were converted to U.S. dollars using an ARS/USD rate of 1,412.5 as reported by Bloomberg on 2026-05-27, highlighting the impact of local-currency pricing and exchange rates on the disclosed U.S. dollar figures.

Insider Trade Summary

Net Buyer: 275,000 shares ($925,925)

Net Buy 1 txn

Insider Mindlin Marcos Marcelo

Role null

Bought 275,000 shs ($926K)

Type	Security	Shares	Price	Value
Purchase	Cammon Stock	275,000	$3.367	$926K

Holdings After Transaction: Cammon Stock — 21,646,973 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares purchased: 275,000 shares Purchase price: $3.367 per share Shares owned after transaction: 21,646,973 shares +1 more

4 metrics

Shares purchased 275,000 shares Open-market purchase on 27 May 2026

Purchase price $3.367 per share Average price for the 275,000-share buy

Shares owned after transaction 21,646,973 shares Direct holdings following the reported purchase

FX rate used 1,412.5 ARS/USD Exchange rate on trade date, per Bloomberg

Key Terms

Cammon Stock, open-market purchase, ARS/USD exchange rate, Form 4

4 terms

Cammon Stock financial

"security_title: "Cammon Stock""

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.

ARS/USD exchange rate financial

"using the ARS/USD exchange rate of 1,412.5 on the trade date"

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.

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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^*

Mindlin Marcos Marcelo

(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)

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

2a. Foreign Trading Symbol
[PAMP]

3. Date of Earliest Transaction (Month/Day/Year)
05/27/2026

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
Cammon Stock	05/27/2026	05/28/2026	P		275,000	A	$3.367(1)	21,646,973	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:

1. Prices converted to U.S. dollars using the ARS/USD exchange rate of 1,412.5 on the trade date, as reported by Bloomberg

	Mindlin Marcos Marcelo	05/28/2026
	** 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 transaction did Marcos Marcelo Mindlin report for PAM?

Marcos Marcelo Mindlin reported an open-market purchase of 275,000 shares of Pampa Energy Inc. Cammon Stock. The transaction occurred on 27 May 2026 and was disclosed as a direct ownership increase rather than through derivatives or grants.

At what price did Mindlin buy Pampa Energy (PAM) shares in this Form 4?

He bought 275,000 Pampa Energy shares at an average price of $3.367 per share. The filing notes that these prices were converted into U.S. dollars using an ARS/USD exchange rate of 1,412.5 on the trade date, as reported by Bloomberg.

How many Pampa Energy (PAM) shares does Mindlin own after this transaction?

After the reported purchase, Mindlin directly owns 21,646,973 shares of Pampa Energy Inc. This figure reflects his position immediately following the 275,000-share open-market acquisition disclosed in the Form 4, confirming he remains a large, long-term shareholder of the company.

Was the Pampa Energy (PAM) Form 4 transaction a buy or a sell?

The Form 4 reports a buy transaction, specifically an open-market purchase coded as “P.” Mindlin acquired 275,000 non-derivative shares of Cammon Stock, and the transactionSummary shows one buy transaction, zero sales, and a net-buy direction for the reported activity.

Did the Pampa Energy (PAM) Form 4 include any derivative exercises or options?

No, this Form 4 shows only a non-derivative open-market share purchase. The derivativeSummary is empty and the transactionSummary lists zero derivative transactions or exercises, indicating no options, warrants, or other derivative securities were exercised or converted in this filing.

What exchange rate was used to convert Mindlin’s PAM trade into U.S. dollars?

The filing states prices were converted using an ARS/USD exchange rate of 1,412.5. This rate corresponds to the trade date and was reported by Bloomberg, ensuring the disclosed per-share purchase price of $3.367 reflects contemporaneous foreign exchange conditions.