Gregory M. Shepard filed a Form 4 with the SEC on November 10, 2026, disclosing three open-market sales of Atlas Energy Solutions Inc. common stock totaling 890,500 shares between November 6 and November 10, 2026.

Key Highlights

  • Three separate sales: Shepard disposed of 500,000 shares on November 6, 200,000 shares on November 9, and 190,500 shares on November 10, 2026.
  • Weighted average prices: The November 6 sale carried a weighted average price of $5.32, the November 9 sale $5.56, and the November 10 sale $5.16, per the filing.
  • Price ranges disclosed: Individual transaction prices ranged from $5.225 to $5.415 on November 6, $5.505 to $5.98 on November 9, and $5.125 to $5.28 on November 10.
  • Remaining direct ownership: Following all three transactions, Shepard directly beneficially owned 6,530,710 shares of common stock, according to the filing.
  • Group disclaimer: The filing notes Shepard "may be deemed to be a member of a 'group'" under the Securities Exchange Act of 1934 by virtue of a Stockholder's Agreement dated October 2, 2023, but he "disclaims beneficial ownership" of any securities deemed owned by the group that are not directly owned by him.

Shepard's Multi-Day Share Dispositions in Atlas Energy Solutions

According to the Form 4 filed with the SEC, Gregory M. Shepard reported as a reporting person with a relationship to Atlas Energy Solutions Inc. (NYSE:AESI) described under "Other" and referencing the filing's remarks section. The three transactions, all coded as open-market sales ("S"), were executed across four calendar days and collectively reduced Shepard's directly held position by 890,500 shares.

The filing states that all three weighted average prices are composites of multiple sub-transactions. For the November 6 sale of 500,000 shares, individual prices ranged from $5.225 to $5.415. For the November 9 sale of 200,000 shares, prices ranged from $5.505 to $5.98. For the November 10 sale of 190,500 shares, prices ranged from $5.125 to $5.28. Shepard undertakes, per the filing, to provide full per-price detail to Atlas Energy Solutions, any security holder, or SEC staff upon request.

The remarks section of the filing states that Shepard's potential group membership arises from a Stockholder's Agreement dated October 2, 2023. The filing explicitly states that "this report shall not be deemed an admission that the Reporting Person is a member of a group or the beneficial owner of any securities not directly owned by the Reporting Person." All reported shares in Table I are held directly.

What Was Disclosed

Gregory M. Shepard disclosed three open-market sales of Atlas Energy Solutions common stock between November 6 and November 10, 2026, totaling 890,500 shares at weighted average prices between $5.16 and $5.56, leaving him with 6,530,710 directly held shares.