{"url_path":"/sec/royl/10-k/2026/item-5","section_key":"item-5","section_title":"Item 5 Market for Common Equity and Related Stockholder Matters**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-07-13","source_url":"https://www.sec.gov/Archives/edgar/data/1694617/0001185185-26-002897-index.html","accession_number":"0001185185-26-002897","cik":"0001694617","ticker":"ROYL","issuer_name":"Royale Energy, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1694617/0001185185-26-002897-index.html","primary_entity_key":"0001694617","primary_entity_name":"Royale Energy, Inc."},"word_count":498,"has_tables":true,"body_markdown":"**Item 5 Market for Common Equity and Related Stockholder Matters**\n\n \n\nThere is no established trading market for Royale’s Common Stock,\nwhich is quoted on the OTCQB Market under the symbol “ROYL.” As of June 30, 2025, 96,600,302 shares of Common Stock were held\nby approximately 3,052 stockholders of record.  The following table reflects the high and low quarterly bid prices as reported on\nthe OTCQB Market from January 2024 through December 2025:\n\n \n\n** **** **\n**1st Qtr**** **** **\n**2nd Qtr**** **** **\n**3rd Qtr**** **** **\n**4th Qtr**** **\n\n** **** **\n**High**** **** **\n**Low**** **** **\n**High**** **** **\n**Low**** **** **\n**High**** **** **\n**Low**** **** **\n**High**** **** **\n**Low**** **\n\n2024 \n$0.07  \n$0.02  \n$0.07  \n$0.03  \n$0.08  \n$0.03  \n$0.07  \n$0.04 \n\n2025 \n$0.06  \n$0.03  \n$0.05  \n$0.04  \n$0.04  \n$0.04  \n$0.04  \n$0.03 \n\n \n\nThe OTC QB Market is not an exchange, and any over the counter quotations\nreflect inter-dealer prices, without retail markup, markdown or commission, and may not necessarily represent actual transactions.\n\n \n\n**Transfer Agent**\n\n \n\nThe Company utilizes the independent transfer agent services of American\nStock Transfer & Trust Company as its transfer agent.\n\n \n\n**Dividends**\n\n \n\nThe board of directors did not declare cash dividends in either 2025\nor 2024. The board of directors did declare dividends during 2024 on the preferred stock to be Paid In Kind (“PIK”) of 65,372\nand 84,470 shares with a respective par value of $653,730 and $844,700, as more fully set forth in Note 5 to our Financial Statements.\n\n \n\n**Recent Sales of Unregistered Securities**\n\n \n\nDuring the fiscal year ended December 31, 2025, we did not issue any\nunregistered securities.\n\n \n\nDuring the fiscal year ended December 31, 2024, we issued the following\nunregistered securities in transactions exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2)\nand/or Regulation D thereunder:\n\n \n\nShares Issued for Compensation\n\n \n\nRoyale issued 1,299,641 shares of common stock to its officers, directors,\nand consultants in lieu of cash compensation for services rendered. These shares were issued at prevailing market prices or pursuant to\nexisting contractual arrangements, and no underwriters or selling agents were involved.\n\n \n\nShares Issued Upon Conversion of Preferred Stock\n\n \n\nOn October 11, 2024, Royale completed a significant equity restructuring\nin which it issued 22,198,095 shares of common stock to former holders of Series B 3.5% Convertible Preferred Stock, representing approximately\n90% of the total preferred stock retired. Additionally, 2,538,378 shares were issued for conversion of accrued preferred dividends, resulting\nin a total of 24,736,473 shares issued related to the preferred equity conversion.\n\n \n\nShares Issued Upon Conversion of Debt\n\n \n\nAs part of the same, October 11, 2024 restructuring transaction, the\nCompany also issued common stock to settle approximately $3 million in liabilities, including certain outstanding debt. The specific number\nof shares issued in connection with debt settlement was not separately disclosed but was included as part of the equity issued in the\nrestructuring.\n\n \n\nAll of the above issuances were conducted without general solicitation,\nand the recipients were either accredited investors or had access to such information as would be required to make an informed investment\ndecision. No underwriters or placement agents were involved, and no commissions were paid.\n\n \n\n8\n\n[Table of Contents](#toc)"}