HighPeak Energy, Inc. — Director's Dealing 2021

Nov 8, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HighPeak Energy, Inc. (HPK)
CIK: 0001792849
Period of Report: 2021-11-04

Reporting Person: HIGHTOWER JACK (Director, Chief Executive Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-04	Common Stock, par value $0.0001 per share	A	1385500	—	Acquired	2261723	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-11-04	Employee Stock Option (right to buy)	$14.36	A	164500	Acquired	2031-11-03	Common Stock, par value $0.0001 per share (164500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.0001 per share	81239054	Indirect
Common Stock, par value $0.0001 per share	2336	Indirect

Footnotes

F1: On April 5, 2021, the Reporting Person filed a Form 4 which inadvertently reported that, following an open market purchase of the Issuer's common stock, par value $0.0001 per share ("Common Stock") he held a total of 276,223 shares of Common Stock. In fact, in addition to the 276,223 shares of Common Stock previously reported and the acquisition reported in this Form 4, the reporting person directly owns an additional 100,000 shares of Common Stock acquired by the Reporting Person in connection with the business combination transaction between the Issuer and Pure Acquisition Corp., a Delaware corporation (the "Transaction") and 500,000 shares of Common Stock acquired by HighPeak Energy III, LP a Delaware limited partnership ("HighPeak III") in connection with the Transaction and later transferred to the Reporting Person.

F2: Represents shares of Common Stock received by (i) HighPeak Pure Acquisition, LLC, a Delaware limited liability company ("Pure Sponsor"), (ii) HighPeak Energy, LP, a Delaware limited partnership ("HighPeak I"), (iii) HighPeak Energy II, LP, a Delaware limited partnership ("HighPeak II" and, together with Pure Sponsor, HighPeak I, and HighPeak III, the "Record Holders" and each, a "Record Holder") in connection with the Transaction.

F3: The Reporting Person directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the Common Stock owned by the Record Holders. The Reporting Person disclaims beneficial ownership of the Common Stock held by each of the Record Holders except to the extent of his pecuniary interest in each of the Record Holders and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F4: The option was fully vested as of the date of grant.