US ENERGY CORP — Director's Dealing 2022

Jan 31, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US ENERGY CORP (USEG)
CIK: 0000101594
Period of Report: 2022-01-17

Reporting Person: Weinzierl John A (Director, 10% Owner, Member of 10% owner group)
Reporting Person: Marsh Wallis T (Member of 10% owner group)
Reporting Person: Lubbock Energy Partners LLC (10% Owner, sMember of 10%)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-01-17	Common Stock	A	200000	—	Acquired	200000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6568828	Direct

Footnotes

F1: Represents restricted stock shares subject to time-based vesting, which vest at the rate of (a) 1/4th of such shares on January 17, 2022, and (b) 1/4th of such shares on the last day of each six months thereafter for the following eighteen months, subject to the recipient's continued service to the Issuer.

F2: Issued to the Reporting Person in consideration for services rendered and agreed to be rendered to the Issuer as the Chairman of the Board of Directors of the Issuer.

F3: Represents shares of shares of common stock, $0.01 par value per share of the Issuer, held by Mr. John A.Weinzierl.

F4: Represents shares of common stock, $0.01 par value per share of the Issuer, held by Lubbock Energy Partners LLC ("Lubbock Energy"). The shares held by Lubbock Energy may be deemed to be beneficially owned by Mr. Weinzierl and Mr. Marsh due to their status as Chief Executive Officer and Manager, and Manager, respectively, of Lubbock Energy. Mr. Weinzierl and Mr. Marsh disclaim beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein. Mr. Weinzierl is also the owner of 33 1/3% of the outstanding membership interests of the limited liability company that owns 100% of the Membership Interests of Synergy (defined below), but in his capacity as a member of the parent of Synergy, he does not have voting or dispositive control over the shares of the Issuer held by Synergy, and he is therefore not deemed to beneficially own such shares, and such shares have not been included in his beneficial ownership as disclosed in this Form 4.

F5: Excludes shares of common stock relating to the voting group included under "Remarks", except as described in footnote (4).