[Form 4] Prairie Operating Co. Insider Trading Activity

Rhea-AI Filing Summary

Edward Kovalik, who serves as Chief Executive Officer and a director of Prairie Operating Co. (PROP), reported an open-market purchase of 10,000 shares of the company on 08/21/2025 at a weighted-average price of $2.175 per share. After the transaction, Mr. Kovalik beneficially owned 2,037,035 shares. The filing notes the purchase occurred at multiple prices between $2.17 and $2.18 and that full allocation details are available on request.

Insights

Financial Analyst

TL;DR: CEO bought 10,000 shares at ~$2.18, modestly increasing his stake to just over 2.0 million shares.

The reported purchase is an insider open-market acquisition and signals management buying stock on the public market. The size of the purchase (10,000 shares) is small relative to the total shares the reporting person already beneficially owns (2,037,035), so the transaction is a limited signal about material change in ownership or control. No derivative transactions or dispositions were reported, and the filing supplies a weighted-average price and a price range for the trades.

Corporate Governance Expert

TL;DR: Insider purchase by the CEO/director is routine; it reflects personal investment but is not a material shift in governance.

The form is properly completed showing the reporting person's roles as CEO and director and that the filing is by a single reporting person. The disclosure includes the weighted-average pricing and an undertaking to provide detailed allocation information on request, which meets transparency expectations under Section 16. Given the small incremental change in beneficial ownership, this does not indicate a governance change or a control shift.

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

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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^*

Kovalik Edward

(Last) (First) (Middle)

55 WAUGH DRIVE

SUITE 400

(Street)

HOUSTON TX 77007

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Prairie Operating Co. [ PROP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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

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 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
Common Stock	08/21/2025		P		10,000	A	$2.175(1)	2,037,035	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. The price reported in this Column 4 is a weighted average price. These shares were purchased in multiple transaction prices ranging from $2.17 to $2.18, inclusive. The reporting person undertakes to provide to Prairie Operating Co. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the ranges set forth in footnote (1) to this Form 4.

	/s/ Edward Kovalik	08/25/2025
	** 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.

FAQ

What did Prairie Operating Co. (PROP) insider Edward Kovalik report on Form 4?

The filing reports that Edward Kovalik purchased 10,000 shares on 08/21/2025 at a weighted-average price of $2.175 per share and now beneficially owns 2,037,035 shares.

What roles does the reporting person hold at PROP?

The Form 4 indicates the reporting person, Edward Kovalik, is both a Director and the Chief Executive Officer of Prairie Operating Co.

Was the purchase made at a single price?

No. The filing states the reported price is a weighted average; trades occurred at prices ranging from $2.17 to $2.18, and the reporter will provide allocation details on request.

Did the Form 4 report any derivative transactions or dispositions?

No. The filing shows a non-derivative purchase of common stock and does not report any derivative securities or dispositions.

When was the Form 4 signed by the reporting person?

The signature block shows the Form 4 was signed by Edward Kovalik on 08/25/2025.