# EDGAR Filing Document

**Accession Number:** 0001032385
**File Stem:** 0001032385-26-000003
**Filing Date:** 2026-6
**Character Count:** 8469
**Document Hash:** 49a089424a9e006e86e667a3dbe5a8b5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001032385-26-000003.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0001032385-26-000003

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260528

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** LUBAR DAVID J
- **CENTRAL INDEX KEY:** 0001032385

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34743
- **FILM NUMBER:** 261053276

**MAIL ADDRESS:**
- **STREET 1:** 770 NORTH WATER STREET
- **STREET 2:** ATTN:  CORPORATE SECRETARIES DEPT.
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HALLADOR ENERGY CO
- **CENTRAL INDEX KEY:** 0000788965
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 841014610
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1183 EAST CANVASBACK DRIVE
- **CITY:** TERRE HAUTE
- **STATE:** IN
- **ZIP:** 47802
- **BUSINESS PHONE:** 303-839-5504

**MAIL ADDRESS:**
- **STREET 1:** 1183 EAST CANVASBACK DRIVE
- **CITY:** TERRE HAUTE
- **STATE:** IN
- **ZIP:** 47802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HALLADOR PETROLEUM CO
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KIMBARK OIL & GAS CO /CO/
- **DATE OF NAME CHANGE:** 19900102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KIMBARK INC
- **DATE OF NAME CHANGE:** 19860624

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>LUBAR DAVID J<br><sub>(Last) (First) (Middle)</sub><br>1183 EAST CANVASBACK DRIVE<br><sub>(Street)</sub><br>TERRE HAUTE, IN 47802<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-05-28 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>HALLADOR ENERGY CO [ HNRG ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock |  |  |  |  |  |  |  | 2851 | D |  |
| Common Stock |  |  |  |  |  |  |  | 2788685 | I | Lubar Equity Fund LLC<sup>(1)</sup> |
| Common Stock |  |  |  |  |  |  |  | 2391571 | I | Lubar Opportunity Fund, I (LOFI)<sup>(2)</sup> |
| Common Stock |  |  |  |  |  |  |  | 271763 | I | SM Opportunity Fund, LLC (SMOF)<sup>(3)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Units | <sup>(4)</sup> | 2026-05-28 |  | A |  | 6316<sup>(5)</sup> |  | <sup>(4)(6)</sup> | <sup>(4)(6)</sup> | Common Stock<sup>(4)</sup> | 6316 | <sup>(4)</sup> | 6316 | D |  |

---

### Footnotes:

(1) Shares are owned by the Lubar Equity Fund LLC (LEF).  Lubar & Co. serves as investment manager over, and exercises in its sole discretion the entire voting and dispositive power with respect to all shares of the Issuer held by LEF.   Mr. David J. Lubar serves as the Chief Executive Officer of Lubar & Co., and as a result, may be deemed to beneficially own these shares. Mr. Lubar disclaims beneficial ownership in the shares owned by LEF, except to the extent of his respective pecuniary interest therein.

(2) Shares are owned by the Lubar Opportunity Fund, I (LOFI). Lubar & Co. serves as investment manager over, and exercises in its sole discretion the entire voting and dispositive power with respect to all shares of the Issuer held LOFI. Mr. David J. Lubar serves as the Chief Executive Officer of Lubar & Co., and as a result, may be deemed to beneficially own these shares. Mr. Lubar disclaims beneficial ownership in the shares owned by LOFI, except to the extent of his respective pecuniary interest therein.

(3) Shares are owned by the  SM Opportunity Fund, LLC (SMOF), Lubar & Co. serves as investment manager over, and exercises in its sole discretion the entire voting and dispositive power with respect to all shares of the Issuer held by SMOF. Mr. David J. Lubar serves as the Chief Executive Officer of Lubar & Co., and as a result, may be deemed to beneficially own these shares. Mr. Lubar disclaims beneficial ownership in the shares owned by SMOF, except to the extent of his respective pecuniary interest therein.

(4) Each Restricted Stock Unit represents a contingent right to receive one share of Hallador Energy Common Stock. Vested shares will be delivered to the reporting person pursuant to the terms of the Second Amended and Restated 2008 Restricted Stock Unit Plan.

(5) These shares were issued to the reporting person as consideration for his total annual equity compensation for service on the Issuer's board.

(6) The Units shall fully vest May 27, 2027, subject in each case subject to Participant's continued Service through the applicable vesting date, subject to the terms and conditions set forth in the Second Amended and Restated 2008 Restricted Stock Unit Plan and Award Agreement.

**Signature:** /s/ David J. Lubar  
**Date:** 2026-06-01

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**