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US Energy Corp (USEG) director awarded 230,000 non-qualified stock options

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

King Duane H reported acquisition or exercise transactions in this Form 4 filing.

US Energy Corp director Duane H. King reported an equity award of 230,000 non-qualified stock options on March 4, 2026. The options were granted under the U.S. Energy Corp. 2022 Equity Incentive Plan as consideration for services rendered and to be rendered as a director.

The options vest in two equal installments of 115,000 options on July 1, 2026 and January 2, 2027, subject to his continued service with the company on each vesting date. As of this filing, King held 193,913 shares of common stock directly, and 2,359,728 shares were held by King Oil & Gas Company, Inc., an entity he owns, which may be deemed beneficially owned by him to the extent of his pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider King Duane H, King Oil & Gas Company, Inc.
Role Director | Insider
Type Security Shares Price Value
Grant/Award Non-Qualified Stock Option (right to buy) 230,000 $0.00 --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 230,000 shares (Direct); Common Stock — 193,913 shares (Direct)
Footnotes (1)
  1. Excludes shares of common stock relating to the voting group included under "Remarks". Represents shares of Common Stock, $0.01, held by King Oil & Gas Company, Inc. ("King Oil"), which is 100% owned by Duane K. King. The shares held by King Oil may be deemed to be beneficially owned by Mr. King due to his status as Chief Executive Officer of and ownership interests in King Oil. Mr. King disclaims beneficial ownership other than to the extent of his pecuniary interest therein. Nonqualified Stock Options granted on March 4, 2026 pursuant to the U.S. Energy Corp. 2022 Equity Incentive Plan. The options vest in two equal annual installments of 50% each: 115,000 options on July 1, 2026 and 115,000 options on January 2, 2027, subject to the Reporting Person's continued service with the Issuer on such vesting dates. Issued to the Reporting Person in consideration for services rendered and agreed to be rendered to the Issuer as a Director of the Issuer.
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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*
King Duane H
(Last) (First) (Middle)
C/O U.S. ENERGY CORP.
1616 S. VOSS, SUITE 725
(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 10% Owner
Officer (give title below) X Other (specify below)
Member of 10% owner group
3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026
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 193,913(1) D
Common Stock 2,359,728(1)(2) 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
Non-Qualified Stock Option (right to buy) $1.11 03/04/2026 A 230,000 (3) 03/04/2036 Common Stock 230,000 $0(4) 230,000 D
1. Name and Address of Reporting Person*
King Duane H
(Last) (First) (Middle)
C/O U.S. ENERGY CORP.
1616 S. VOSS, SUITE 725
(Street)
HOUSTON TX 77057
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
X Director 10% Owner
Officer (give title below) X Other (specify below)
Member of 10% owner group
1. Name and Address of Reporting Person*
King Oil & Gas Company, Inc.
(Last) (First) (Middle)
1401 LAKE PLAZA DR.
SUITE 200-185
(Street)
SPRING TX 77389
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director 10% Owner
Officer (give title below) X Other (specify below)
Director owned entity
Explanation of Responses:
1. Excludes shares of common stock relating to the voting group included under "Remarks".
2. Represents shares of Common Stock, $0.01, held by King Oil & Gas Company, Inc. ("King Oil"), which is 100% owned by Duane K. King. The shares held by King Oil may be deemed to be beneficially owned by Mr. King due to his status as Chief Executive Officer of and ownership interests in King Oil. Mr. King disclaims beneficial ownership other than to the extent of his pecuniary interest therein.
3. Nonqualified Stock Options granted on March 4, 2026 pursuant to the U.S. Energy Corp. 2022 Equity Incentive Plan. The options vest in two equal annual installments of 50% each: 115,000 options on July 1, 2026 and 115,000 options on January 2, 2027, subject to the Reporting Person's continued service with the Issuer on such vesting dates.
4. Issued to the Reporting Person in consideration for services rendered and agreed to be rendered to the Issuer as a Director of the Issuer.
Remarks:
By virtue of being party to a Nominating and Voting Agreement, dated as of January 5, 2022, as amended September 16, 2023 (the "Voting Agreement"), Mr. King and King Oil 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 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).
/s/ Duane H. King 03/06/2026
/s/ Duane H. King, Chief Executive Officer of King Oil and Gas Company, Inc. 03/06/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did USEG director Duane H. King report?

Duane H. King reported receiving 230,000 non-qualified stock options from US Energy Corp. The award was granted on March 4, 2026 under the company’s 2022 Equity Incentive Plan as compensation for services rendered and to be rendered in his role as a director.

How do the 230,000 US Energy Corp (USEG) options granted to Duane H. King vest?

The 230,000 non-qualified stock options vest in two equal tranches. 115,000 options vest on July 1, 2026, and another 115,000 options vest on January 2, 2027, provided Duane H. King continues to serve as a director on each respective vesting date.

How many US Energy Corp (USEG) shares does Duane H. King hold directly after this filing?

After the reported transactions, Duane H. King directly holds 193,913 shares of US Energy Corp common stock. This direct ownership is separate from additional shares held through King Oil & Gas Company, Inc., which is an entity he owns and may be deemed beneficially owned in part.

What is King Oil & Gas Company, Inc.’s role in Duane H. King’s USEG holdings?

King Oil & Gas Company, Inc. holds 2,359,728 US Energy Corp common shares. The entity is 100% owned by Duane H. King, and those shares may be deemed beneficially owned by him, although he disclaims beneficial ownership beyond his pecuniary interest in King Oil.

Under which plan were Duane H. King’s USEG stock options granted and why?

The 230,000 non-qualified stock options were granted under the U.S. Energy Corp. 2022 Equity Incentive Plan. They were issued to Duane H. King in consideration for services rendered and agreed to be rendered to the company in his capacity as a director on the board.

Does Duane H. King’s Form 4 for USEG show any stock sales or purchases?

The Form 4 shows a grant of 230,000 non-qualified stock options to Duane H. King, categorized as an acquisition. It does not report open-market purchases or sales of US Energy Corp common stock; other lines in the filing update his post-transaction share holdings.