[Form 4] Prairie Operating Co. Insider Trading Activity

Rhea-AI Filing Summary

Jonathan H. Gray, a director of Prairie Operating Co. (PROP), purchased 218,917 shares on 08/20/2025 at a weighted average price of $2.09 per share. After the reported purchase, Mr. Gray beneficially owns 466,254 shares directly and indirectly holds 159,999 shares through First Idea International, Ltd. and 230,159 shares through First Idea Ventures, LLC. The filing notes the reported price is a weighted average for multiple purchases priced between $2.05 and $2.16. The Form 4 is signed by the reporting person on 08/21/2025.

Insights

Securities Analyst

TL;DR: Director purchased 218,917 PROP shares at ~$2.09; ownership increased to 466,254 shares directly.

The filing documents a routine open-market acquisition by a director totaling 218,917 shares executed on 08/20/2025 at a weighted average price of $2.09, with transaction prices between $2.05 and $2.16. The report discloses direct and indirect holdings, including shares held via two entities. This is a straightforward Section 16 disclosure of beneficial ownership change; no derivatives, no dispositions, and no additional terms are reported.

Corporate Governance Expert

TL;DR: Director-level insider reported a multi-price purchase and disclosed affiliated entity holdings.

The Form 4 properly identifies the reporting person as a director and specifies both direct and indirect ownership through affiliated entities. It includes the standard weighted-average price footnote and a manual signature. The filing contains the required specifics for Section 16 reporting and does not report amendments, dispositions, or derivative activity.

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
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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^*

Gray Jonathan H.

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

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	08/20/2025		P		218,917	A	$2.09(1)	466,254	D
Common Stock								159,999	I	Held by First Idea International, Ltd.
Common Stock								230,159	I	Held by First Idea Ventures, LLC

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 $2.05 to $2.16, 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/ Jonathan Gray	08/21/2025
	** 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 transaction did Jonathan H. Gray report for PROP?

He purchased 218,917 shares of Prairie Operating Co. on 08/20/2025, reported on Form 4.

At what price were the PROP shares purchased?

Weighted average price $2.09; the filing states purchases ranged from $2.05 to $2.16 and are a weighted average.

How many PROP shares does Jonathan H. Gray beneficially own after the transaction?

466,254 shares directly, plus 159,999 held by First Idea International, Ltd. and 230,159 held by First Idea Ventures, LLC (indirect).

What is Jonathan H. Gray’s relationship to Prairie Operating Co.?

He is a director of the issuer, as indicated on the Form 4.

When was the Form 4 signed?

Signed by Jonathan Gray on 08/21/2025, as shown on the filing.