# EDGAR Filing Document

**Accession Number:** 0000788965
**File Stem:** 0001104659-26-001098
**Filing Date:** 2026-1
**Character Count:** 11664
**Document Hash:** dba91ec2666b437301771e0f7c2287cd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-001098.hdr.sgml**: 20260106

**ACCESSION NUMBER**: 0001104659-26-001098

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20251230

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260106

**DATE AS OF CHANGE**: 20260106

**FILER**: 

**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

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34743
- **FILM NUMBER:** 26509457

**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

?xml version='1.0' encoding='ASCII'? Hallador Energy Company_December 30, 2025

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM 8-K**

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 30, 2025

![Graphic](hnrg-20251230x8k001.jpg)

**Hallador Energy Company**

(Exact name of registrant as specified in its charter)

Colorado 001-34743 84-1014610 <br> (State or other jurisdictionof incorporation) (CommissionFile Number) (IRS EmployerIdentification No.)

1183 East Canvasback Drive, Terre Haute, Indiana 47802 <br> (Address, including zip code, of principal executive offices)

Registrant's telephone number, including area code: (812) 299-2800.

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

&nbsp;&nbsp;&nbsp;&nbsp;Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange<br>on which registered |
| Common Shares, $.01 par value | HNRG | Nasdaq |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On December 30, 2025, Hallador Energy Company (the "Company") received notice from David Hardie, a member of the Company's Board of Directors (the "Board"), of his decision to resign from the Board, effective January 1, 2026. The Company thanks Mr. Hardie for his long-time service and valuable contributions as a member of the Board since 1989. Mr. Hardie's resignation from the Board was not due to any disagreement with the Company on any matter related to its operations, policies or practices.

● a $200,000 annual retainer fee that will be paid: 50% in cash, 50% in restricted stock units (RSUs) to be granted under the Company's Second Amended and Restated 2008 Restricted Stock Unit Plan

● payment of the cash component of the annual retainer fees quarterly at the end of each quarter

● grant of the RSU component of the annual retainer immediately after the annual shareholders' meeting with a one-year vesting period, with the amount of restricted stock units granted based on the volume weighted average trading price for the 10 trading days prior to the annual meeting

There are no family relationships between Ms. Sugg and any of the Company's directors or executive officers, and there is no arrangement or understanding between Ms. Sugg or any other person and the Company or any of its subsidiaries pursuant to which she was appointed as a director of the Company. There are no transactions between Ms. Sugg or any of her immediate family members and the Company or any of its subsidiaries that would be required to be reported under Item 404(a) of Regulation S-K.

**Item 7.01 Regulation FD Disclosure.** 

On January 6, 2026, the Company issued a press release announcing the Board of Director changes described herein. A copy of this press release is attached hereto as [Exhibit 99.1](hnrg-20251230xex99d1.htm) to this Current Report on Form 8-K, and the text of such press release is incorporated herein by reference.

None of the information furnished in this Item 7.01 will be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor will it be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended.

**Item 9.01 - Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| **Number** | **Description** |
| 99.1 | [Press Release dated January 6, 2026](hnrg-20251230xex99d1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURE** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  |  | **Hallador Energy Company** |
| January 6, 2026 | By: | /s/ BRENT K. BILSLAND |
|  |  | Brent K. Bilsland<br>President and Chief Executive Officer |

---

## Exhibit 99.1

![Graphic](hnrg-20251230xex99d1001.jpg)**Exhibit 99.1**

**Hallador Energy Appoints Barbara Sugg, Former CEO of Southwest Power Pool, to Join Board of Directors**

**TERRE HAUTE, Ind., January 6, 2026** – Hallador Energy Company (Nasdaq: HNRG) ("Hallador" or the "Company") today announced that its Board of Directors (the "Board") has appointed Barbara Sugg to the Board, effective January 1, 2026. Ms. Sugg's appointment follows the resignation of David Hardie from the Board, effective January 1, 2026. With the election of Ms. Sugg, Hallador's Board remains at six total members, five of whom are independent under the Nasdaq listing standards.

"On behalf of Hallador, I'd like to thank David for his invaluable contributions to the business over his 35-year tenure," said Brent Bilsland, President and Chief Executive Officer. "At the same time, I'm pleased to welcome Barbara to our Board. Her extensive and visionary leadership experience across power markets, grid operations, and reliability-focused growth will be a strong asset to our team as we work to maximize the value of our generation assets and execute on our long-term strategy of growth."

Ms. Sugg brings more than three decades of leadership experience in the energy industry, most recently serving as President and Chief Executive Officer of Southwest Power Pool ("SPP"), a Regional Transmission Organization overseeing electric reliability and wholesale markets across a multi-state footprint. During her tenure as CEO, she led an organization of more than 800 employees, and advanced significant regional and interregional transmission initiatives, including securing funding for joint transmission projects totaling approximately $2 billion. Ms. Sugg also spearheaded the reliable integration of more than 10 gigawatts of energy resources and led the expansion of SPP into the western interconnection, making it the first RTO to operate across multiple interconnections.

Prior to becoming CEO of SPP, she served as Senior Vice President of Information Technology and Chief Security Officer, where she oversaw large-scale technology modernization efforts and strengthened cybersecurity and system resilience across critical operations. Ms. Sugg has extensive board and governance experience, including serving as a voting member of the SPP Board of Directors and chairing its Corporate Governance Committee, and currently serves on several civic and nonprofit boards.

Ms. Sugg holds a Bachelor of Science in Computer Science from the University of Louisiana at Lafayette and completed the Advanced Management Program at Harvard Business School.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects," "believes," "intends," "anticipates," "plans," "estimates," "guidance," "target," "potential," "possible," or "probable" or statements that certain actions, events or results "may," "will," "should," or "could" be taken, occur or be achieved. Forward-looking statements are based on current expectations and assumptions and analyses made by Hallador and its management in light of experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in Hallador's annual report on Form 10-K for the year ended

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December 31, 2024, and other Securities and Exchange Commission filings. Hallador undertakes no obligation to revise or update publicly any forward-looking statements except as required by law.

About Hallador Energy Company

Hallador Energy Company (Nasdaq: HNRG) is a vertically-integrated Independent Power Producer (IPP) based in Terre Haute, Indiana. The Company has two core businesses: Hallador Power Company, LLC, which produces electricity and capacity at its one Gigawatt (GW) Merom Generating Station, and Sunrise Coal, LLC, which produces and supplies fuel to the Merom Generating Station and other companies. To learn more about Hallador, visit the Company's website at <u>http://www.halladorenergy.com/</u><u>.</u>

**Company Contact**

Todd E. Telesz

Chief Financial Officer

<u>TTelesz@halladorenergy.com</u>

**Investor Relations Contact**

Sean Mansouri, CFA

Elevate IR

(720) 330-2829

<u>HNRG@elevate-ir.com</u><u> </u>

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