USEG insider update: 1,400,000 shares reallocated; Katla holds 5.65M

Rhea-AI Filing Summary

U.S. Energy Corp. (USEG) reported insider ownership changes tied to a non-cash distribution on October 28, 2025. The filing was made jointly by John A. Weinzierl and Katla Energy Holdings LLC, with Mr. Weinzierl listed as a Director and 10% Owner.

Synergy Offshore LLC distributed 1,400,000 shares of Common Stock to its parent and then to members, including 796,761 shares to Katla, at a price of $0 (transaction code J). Following the transactions, Katla held 5,650,326 shares directly. The John Alfred Weinzierl 2020 Trust held 3,124,893 shares indirectly, and Mr. Weinzierl held 497,826 shares directly, which include 40,000 restricted shares scheduled to vest on January 1, 2026.

The remarks note a Nominating and Voting Agreement under which certain parties may be deemed a Section 13(d) “group” that beneficially owns more than 10% in aggregate; the reporting persons disclaim beneficial ownership beyond their pecuniary interests.

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^*

Weinzierl John A

(Last) (First) (Middle)

1616 S. VOSS RD

SUITE 530

(Street)

HOUSTON TX 77057

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
US ENERGY CORP [ USEG ]

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

X	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of 10% owner group

3. Date of Earliest Transaction (Month/Day/Year)
10/28/2025

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

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

	Form filed by One Reporting Person
X	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								497,826	D(1)
Common Stock	10/28/2025		J(6)		796,761	A	$0(6)	5,650,326	D(2)
Common Stock								3,124,893	I	By John Alfred Weinzierl 2020 Trust, u/t/a November 10, 2020(3)(4)
Common Stock	10/28/2025		J(6)		1,400,000	D	$0(6)	0	I	By Synergy Offshore LLC(5)

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

1. Name and Address of Reporting Person^*

Weinzierl John A

(Last) (First) (Middle)

1616 S. VOSS RD

SUITE 530

(Street)

HOUSTON TX 77057

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of 10% owner group

1. Name and Address of Reporting Person^*

John Alfred Weinzierl 2020 Trust u/a November 10, 2020

(Last) (First) (Middle)

1616 S. VOSS RD

SUITE 530

(Street)

HOUSTON TX 77057

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of 10% owner group

1. Name and Address of Reporting Person^*

Katla Energy Holdings LLC

(Last) (First) (Middle)

1616 S VOSS RD, SUITE 530

(Street)

HOUSTON TX 77057

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of 10% owner group

Explanation of Responses:

1. Excludes shares of Common Stock relating to the voting group described below under "Remarks". Represents shares of common stock, $0.01 par value per share of the Issuer ("Common Stock"), held by Mr. Weinzierl directly. This Form 4 is filed jointly by John A. Weinzierl and Katla. Mr. Weinzierl is the 100% owner of all of the equity of Katla. Mr. Weinzierl is also the Chairman of U.S. Energy Corp. and is the Trustee of the Trust (defined below). Mr. Weinzierl disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein. Includes 40,000 shares of restricted Common Stock that remain subject to time-based vesting on January 1, 2026, and recipient's continued service to the Issuer.

2. Excludes shares of Common Stock relating to the voting group described below under "Remarks". Represents shares of Common Stock held directly by Katla Energy Holdings LLC ("Katla"). The shares held by Katla may be deemed to be beneficially owned by Mr. Weinzierl due to his ownership of 100% of Katla and his position as Managing Member of Katla.

3. Excludes shares of Common Stock relating to the voting group described below under "Remarks". Represents shares of Common Stock held by John Alfred Weinzierl 2020 Trust, u/t/a November 10, 2020 (the "Trust"). The shares held by the Trust may be deemed to be beneficially owned by Mr. Weinzierl due to his position as Trustee of the Trust.

4. Mr. Weinzierl disclaims beneficial ownership other than to the extent of his pecuniary interest therein.

5. Shares previously owned directly by Synergy Offshore LLC ("Synergy"). Katla is an owner of member interests in Synergy Producing Properties, LLC ("SPP"), which is the 100% owner of Synergy. Mr. Weinzierl and Katla may be deemed to beneficially own the shares of Common Stock owned by Synergy based on certain member rights in SPP. Mr. Weinzierl and Katla disclaim beneficial ownership in such shares other than to the extent of their pecuniary interest therein.

6. On October 28, 2025, Synergy distributed all of the 1,400,000 shares of Common Stock owned by it to SPP, and SPP distributed all of such shares to its members, including 796,761 shares to Katla. Such shares were distributed without payment of any additional consideration.

Remarks:

By virtue of being party to an Amendment and Restated Nominating and Voting Agreement, dated as of September 16, 2022 (the "Voting Agreement"), Katla and Mr. Weinzierl, may be deemed to be a member of a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), with respect to the securities reported herein with the other parties who are bound by the Voting Agreement and their control persons, which such "group" beneficially owns, in the aggregate, more than 10% of the outstanding shares of common stock of the Issuer. In addition to Lubbock Energy, the parties to the Voting Agreement are the Issuer, Lubbock Energy Partners LLC; Synergy Offshore LLC; Banner Oil & Gas, LLC, Woodford Petroleum, LLC, Llano Energy LLC, King Oil & Gas Company, Inc., WDM Family Partnership, LP and Katla. Separately, the control persons of the other parties to the Voting Agreement may also be part of the Section 13(d) "group". The reporting persons disclaim beneficial ownership of any securities owned by any of the other signatories to the Voting Agreement (and/or their control persons) and the filing of this Form 4 shall not be deemed an admission, for purposes of Section 16 of the Exchange Act or otherwise, that any of the reporting persons and any other person or persons constitute a "group" for purposes of Section 13(d)(3) of the Exchange Act or Rule 13d-5 thereunder. In addition, none of the reporting persons have any pecuniary interest in any of the securities beneficially owned by any of the other signatories to the Voting Agreement (and/or their control persons). For a description of the Voting Agreement, see the Current Report on Form 8-K filed by the Issuer with the United States Securities and Exchange Commission on September 16, 2022.

	/s/ John A. Weinzierl	10/30/2025
	/s/ John A. Weinzierl, Managing Member of Katla Energy Holdings LLC	10/30/2025
	/s/ John A. Weinzierl, Trustee of John Alfred Weinzierl 2020 Trust	10/30/2025
	** 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.