EVOLUTION PETROLEUM CORP — Director's Dealing 2017

May 26, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EVOLUTION PETROLEUM CORP (EPM)
CIK: 0001006655
Period of Report: 2017-05-25

Reporting Person: Joe David (SVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-25	Common Stock	M	35231	$2.19	Acquired	376282	Direct
2017-05-25	Common Stock	F	10220	$7.55	Disposed	366062	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-25	Employee Stock Option (right to buy)	$2.19	M		Disposed	2017-09-07	Employee Stock Option (right to buy) (35231.0)	Direct

Footnotes

F1: Transfer of shares to pay exercise price.

F2: The stock option, originally granted on September 7, 2007, represents a right to purchase 50,000 shares, became exercisable with respect to 1/8 of the total number of shares covered by the option when the employee completed six months of continuous employment from the date of grant, and thereafter with respect to 1/16 of the shares covered by the option upon completion of each three months of continuous employment thereafter. On March 5, 2014, a portion of this stock option was exercised, leaving 35,231 options unexercised.