Zion Oil & Gas (ZNOG) director reports 25,000 stock option award

Rhea-AI Filing Summary

Zion Oil & Gas director John M. Brown reported an option award in company stock. On January 8, 2026, he acquired 25,000 ZNOG common stock options with a $0.243 exercise price. These options are exercisable starting January 8, 2026 and expire on January 5, 2036, and each option is linked to one share of Zion Oil & Gas common stock with a $0.01 par value.

Following this transaction, Brown directly holds 1,975,000 derivative securities tied to Zion Oil & Gas common stock, reflecting his ongoing equity-linked exposure as a director.

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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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^*

Brown John M

(Last) (First) (Middle)

12222 MERIT DRIVE

SUITE 1450

(Street)

DALLAS TX 75251

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ZION OIL & GAS INC [ ZNOG ]

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)
01/08/2026

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

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
ZNOG Common Stock Option	$0.243	01/08/2026	01/08/2026	A		25,000		01/08/2026	01/05/2036	ZNOG Common Stock Par Value $0.01	25,000	$0	1,975,000	D

Explanation of Responses:

	/s/ Martin M. Van Brauman	01/08/2026
	** 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.

FAQ

What insider transaction did Zion Oil & Gas (ZNOG) report for John M. Brown?

Director John M. Brown reported acquiring 25,000 ZNOG common stock options on January 8, 2026, coded as an acquisition of derivative securities.

What are the key terms of the 25,000 Zion Oil & Gas (ZNOG) stock options?

The derivative security is a ZNOG common stock option with a $0.243 exercise price, first exercisable on January 8, 2026 and expiring on January 5, 2036, covering 25,000 underlying common shares.

How many derivative securities does John M. Brown hold in Zion Oil & Gas (ZNOG) after this transaction?

After the reported option acquisition, John M. Brown directly holds 1,975,000 derivative securities linked to Zion Oil & Gas common stock.

Is John M. Brown a director or officer of Zion Oil & Gas (ZNOG)?

John M. Brown is reported as a director of Zion Oil & Gas and is not listed as an officer or 10% owner in this filing.

Does the Form 4 show direct or indirect ownership for the new ZNOG options?

The 25,000 ZNOG common stock options acquired on January 8, 2026 are reported with direct (D) ownership by John M. Brown.

What type of security is involved in this Zion Oil & Gas (ZNOG) insider filing?

The transaction involves a derivative security, specifically ZNOG common stock options tied to 25,000 underlying shares of Zion Oil & Gas common stock.