HPK · HighPeak Energy, Inc.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices ranging from $22.000 to $22.500, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the earlier of (i) a change of control or (ii) the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the earlier of (i) a change of control or (ii) the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the earlier of (i) a change of control or (ii) the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the earlier of (i) a change of control or (ii) the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the earlier of (i) a change of control or (ii) the date of the Company's next annual meeting.

The shares of restricted common stock vest in three equal installments: one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the grant and one-third on the third anniversary of the date of the grant.

The shares of restricted stock vest in three equal installments: one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the date of the grant and one-third on the third anniversary of the date of the grant.

The shares of restricted common stock vest in three equal installments: one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the grant and one-third on the third anniversary of the date of the grant.

The shares of restricted common stock vest in three equal installments: one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the grant and one-third on the third anniversary of the date of the grant.

The shares of restricted stock vest in three equal installments: one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the date of the grant and one-third on the third anniversary of the date of the grant.

The shares of restricted stock vest in three equal installments: one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the date of the grant and one-third on the third anniversary of the date of the grant.

The shares of restricted common stock vest in three equal installments: one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the date of the grant and one-third on the third anniversary of the date of the grant.

The reporting person had 115,000 shares of restricted stock that fully vested on December 31, 2025, of which 45,253 shares of common stock were withheld by the Company to satisfy Mr. Hollis's tax withholding obligations, resulting in a net issuance to Mr. Hollis of 69,747 shares of common stock.

The reporting person had 300,000 shares of restricted stock that fully vested on December 31, 2025, of which 105,849 shares of common stock were withheld by the Company to satisfy Mr. Silver's tax withholding obligations, resulting in a net issuance to Mr. Silver of 194,151 shares of common stock.

The reporting person had 300,000 shares of restricted stock that fully vested on December 31, 2025, of which 105,887 shares of common stock were withheld by the Company to satisfy Mr. Hightower's tax withholding obligations, resulting in a net issuance to Mr. Hightower of 194,113 shares of common stock.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

This Form 4 is filed by John Paul DeJoria, as trustee of the John Paul DeJoria Family Trust, a grantor trust of which Mr. DeJoria is the settlor and a beneficiary, and in his individual capacity. This Form 4 reports a gift of shares by Mr. DeJoria effective May 28, 2025, upon execution and delivery of instructions to the broker to transfer the shares on its records. The broker recorded the internal transfer on its records on June 9, 2025.

On December 11, 2024, the reporting person gifted 1,760 shares of common stock, par value $0.0001 per share ("Common Stock") of HighPeak Energy, Inc. (the "Issuer"), to each of the reporting person's sons (the "Record Holders"). The reporting person disclaims beneficial ownership of the Common Stock held by 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 ownership of such securities for purposes of Section 16 or for any other purpose. The reporting person disclaims beneficial ownership of the securities held by his sons, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

Shares held by each Record Holder.

On December 11, 2024, the reporting person gifted 1,760 shares of common stock, par value $0.0001 per share ("Common Stock") of HighPeak Energy, Inc. (the "Issuer"), to each of the reporting person's sons (the "Record Holders"). The reporting person disclaims beneficial ownership of the Common Stock held by 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 ownership of such securities for purposes of Section 16 or for any other purpose. The reporting person disclaims beneficial ownership of the securities held by his sons, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

On December 11, 2024, the reporting person gifted 1,760 shares of common stock, par value $0.0001 per share ("Common Stock") of HighPeak Energy, Inc. (the "Issuer"), to each of the reporting person's sons (the "Record Holders"). The reporting person disclaims beneficial ownership of the Common Stock held by 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 ownership of such securities for purposes of Section 16 or for any other purpose. The reporting person disclaims beneficial ownership of the securities held by his sons, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

Shares held by each Record Holder.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $13.95 to $14.10, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth if footnote (1) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $15.19 to $15.30, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $15.90 to $15.98, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $15.39 to $15.78, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth in footnote (3) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $15.23 to $15.50, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $15.34 to $15.60, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

Award represents shares of restricted stock that vest subject to the Reporting Person's continuous service on the board of directors of HighPeak Energy, Inc. (the "Company") on the date of the Company's next annual meeting.

Since the date of the Reporting Person's last ownership report, the Reporting Person transferred 18,006 shares of common stock to his former spouse pursuant to a domestic relations order. The Reporting Person no longer reports as beneficially owned any securities owned by his former spouse.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $14.62 to $14.75, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth in footnote (3) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $14.58 to $15.00, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $14.96 to $15.00, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $14.39 to $14.50, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth if footnote (2) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $14.14 to $14.20, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth if footnote (1) to this Form 4.

The 3,615 shares of common stock were sold in two transactions, each at a price of $14.477 per share.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $16.315 to $16.60, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth if footnote (2) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares of common stock were purchased in multiple transactions at prices from $16.355 to $16.75, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock purchased at each separate price within the ranges set forth if footnote (1) to this Form 4.

The stock option was designed to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the guidance thereunder, and is exercisable only during the 90 day period following the earlier to occur of the Reporting Person's separation from service due to death or disability, the occurrence of a change in control of the Issuer, or August 1, 2026.

The stock option was designed to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the guidance thereunder, and is exercisable only during the 90 day period following the earlier to occur of the Reporting Person's separation from service due to death or disability, the occurrence of a change in control of the Issuer, or August 1, 2026.

The stock option was designed to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the guidance thereunder, and is exercisable only during the 90 day period following the earlier to occur of the Reporting Person's separation from service due to death or disability, the occurrence of a change in control of the Issuer, or August 1, 2026.