Zion Oil & Gas (ZNOG) CFO reports new 25,000-share option award

Rhea-AI Filing Summary

Zion Oil & Gas, Inc. reported an insider equity award for its Chief Financial Officer on a Form 4. On 01/06/2026, the CFO received a stock option covering 25,000 shares of ZNOG common stock with an exercise price of $0.243 per share. The option becomes exercisable on 01/06/2026 and expires on 01/05/2036. Following this grant, the officer holds 1,855,000 derivative securities related to ZNOG common stock in direct ownership.

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^*

Croswell Michael B. Jr.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/06/2026

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	01/06/2026	01/06/2026	A		25,000		01/06/2026	01/05/2036	ZNOG Common Stock Par Value $0.01	25,000	$0	1,855,000	D

Explanation of Responses:

	/s/ Martin M. Van Brauman	01/07/2026
	** 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) disclose in this Form 4?

The company disclosed that its Chief Financial Officer received a stock option for 25,000 shares of ZNOG common stock on 01/06/2026 with an exercise price of $0.243 per share.

Who is the reporting person in the ZNOG Form 4 filing?

The reporting person is the Chief Financial Officer (CFO) of Zion Oil & Gas, Inc., who is an officer of the issuer and filed the form as a single reporting person.

What are the key terms of the new ZNOG stock option reported?

The reported derivative security is a ZNOG common stock option for 25,000 shares at an exercise price of $0.243 per share, exercisable from 01/06/2026 and expiring on 01/05/2036.

How many derivative securities does the ZNOG officer own after this transaction?

After the reported transaction, the officer beneficially owns 1,855,000 derivative securities related to ZNOG common stock, held in direct ownership.

Does this ZNOG Form 4 involve non-derivative securities?

The excerpted information only lists activity in Table II for derivative securities, specifically a common stock option; no non-derivative securities transactions are shown in the provided content.

What is the role of this Form 4 for Zion Oil & Gas (ZNOG) investors?

Form 4 provides mandatory disclosure of the CFO’s recent stock option grant, giving investors visibility into insider equity awards tied to ZNOG common stock.