Prairie Operating Co. — Director's Dealing 2024

May 31, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Prairie Operating Co. (PROP)
CIK: 0001162896
Period of Report: 2023-09-07

Reporting Person: Gray Jonathan H. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-09-07	Common Stock	P	109024	$3.05	Acquired	109024	Indirect
2024-04-25	Common Stock	X	150000	$6.00	Acquired	230159	Indirect
2024-04-25	Common Stock	X	50975	$6.00	Acquired	159999	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-09-07	Series D Convertible Preferred Stock	$5.00	P	254.87	Acquired		Common Stock (50974)	Indirect
2023-09-07	A Common Stock Purchase Warrant	$6.00	P	50975	Acquired	2028-05-03	Common Stock (50975)	Indirect
2023-09-07	B Common Stock Purchase Warrant	$6.00	P	50975	Acquired	2024-05-03	Common Stock (50975)	Indirect
2024-04-25	B Common Stock Purchase Warrant	$6.00	X	150000	Disposed	2024-05-03	Common Stock (150000)	Indirect
2024-04-25	B Common Stock Purchase Warrant	$6.00	X	50975	Disposed	2024-05-03	Common Stock (50975)	Indirect

Footnotes

F1: The Reporting Person holds 50% and his spouse, Chloe Gray, holds 50% of the interest of First Idea Ventures LLC and each share voting and investment power over the securities held by First Idea Ventures LLC.

F2: On October 16, 2023, the Issuer effected a reverse stock split of outstanding shares of the Issuer's common stock at an exchange ratio of 1:28.5714286, resulting in the reporting person's ownership of 2,210,120 less shares of common stock.

F3: The shares of Series D preferred stock, par value $0.01, have no expiration date.

F4: On September 7, 2023, the Reporting Person purchased from Alpha Capital Anstalt for a total purchase price of $800,000 the following securities: 73,194 shares of Common Stock, 254.87 shares of Series D Convertible Preferred Stock convertible into 50,974 shares of Common Stock, 50,975 Series A Warrants convertible into 50,975 shares of Common Stock, 50,975 Series B Warrants convertible into 50,975 shares of Common Stock, and 35,830 Rights to Purchase 35,830 shares of Common Stock. The values of the aforementioned securities were adjusted to reflect the reverse stock split that occurred on October 16, 2023.

F5: This purchase warrant was previously reported as covering 4,285,714 shares at an exercise price of $0.21 per share, but was adjusted to reflect the reverse stock split that occurred on October 16, 2023.