PERNICE THOMAS J 4

What Happened Thomas J. Pernice, a director of Trio Petroleum Corp. (TPET), reported two sales of company stock: 17,750 shares on 2025-10-01 and 25,000 shares on 2026-03-12. The filings note these were open-market or private sales to cover taxes related to restricted stock issued to Mr. Pernice in 2025. Based on the filing footnotes, the 10/01/2025 shares were sold at an average of $1.0363 (≈ $18,394) and the 3/12/2026 shares at an average of $1.7518 (≈ $43,795), for combined proceeds of about $62,189. The transactions are sales (routine/tax-related), not purchases.

Key Details

• Transaction dates and amounts:
  • 2025-10-01: Sold 17,750 shares; avg price per footnote F2 = $1.0363; proceeds ≈ $18,394.
  • 2026-03-12: Sold 25,000 shares; avg price per footnote F3 = $1.7518; proceeds ≈ $43,795.
• Total shares sold: 42,750; combined proceeds ≈ $62,189 (based on reported averages).
• Shares owned after transaction: Not specified in the reported Form 4.
• Notable footnotes:
  • F1: Sales were to cover taxes related to restricted stock issued in 2025.
  • F2/F3: Prices shown are averages; the filing says a full breakdown of prices is available upon SEC request.
• Filing timeliness: The Form 4 was filed on 2026-03-13. The 2026-03-12 sale was reported promptly, but the 2025-10-01 sale was reported late relative to the typical two-business-day Form 4 deadline.

Context

• These sales were reported as tax-withholding or tax-covering dispositions of restricted stock (routine administrative transactions) and do not, by themselves, indicate the director’s view of the company’s prospects.
• Price data in the filing are given as averages; the SEC-requestable breakdown may show varying execution prices across lots.