Lazarus Energy adds 10,000 BDCO shares in open-market buys (NASDAQ: BDCO)

Rhea-AI Filing Summary

Lazarus Energy Holdings, LLC, a ten percent owner of Blue Dolphin Energy Co, reported open-market purchases of Blue Dolphin common stock. On June 12, 2026, the entity bought a total of 10,000 shares of common stock in two transactions at $3.54 per share.

A footnote notes that Jonathan Carroll, President/Managing Member of Lazarus Energy Holdings and CEO and President of Blue Dolphin Energy Company, also directly owns 4,125,000 shares of Blue Dolphin common stock. The filing reflects additional accumulation by a major shareholder.

Insider Trade Summary

Net Buyer: 10,000 shares ($35,400)

Net Buy 2 txns

Insider LAZARUS ENERGY HOLDINGS, LLC

Role null

Bought 10,000 shs ($35K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	5,000	$3.54	$18K
Purchase	Common Stock	5,000	$3.54	$18K

Holdings After Transaction: Common Stock — 8,572,500 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares purchased: 10,000 shares Purchase price: $3.54 per share Single trade size: 5,000 shares +2 more

5 metrics

Shares purchased 10,000 shares Total open-market purchases on June 12, 2026

Purchase price $3.54 per share Price for each common stock transaction

Single trade size 5,000 shares Each of the two non-derivative purchases

Jonathan Carroll direct holdings 4,125,000 shares Direct ownership noted in footnote

Net buy direction 10,000 shares net-buy Transaction summary for this Form 4

Key Terms

open-market purchase, ten percent owner, Common Stock, transaction code P, +1 more

5 terms

open-market purchase financial

"transaction_action: "open-market purchase" for each transaction"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

ten percent owner financial

""is_ten_percent_owner": 1 in reportingPersons data"

Common Stock financial

""security_title": "Common Stock" for each transaction"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

transaction code P financial

""transaction_code": "P" indicating a purchase"

net-buy financial

""netBuySellDirection": "net-buy" in transactionSummary"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/16/2026 - 04:43 PM Accepted by SEC EDGAR 06/16/2026 - 04:42 PM Learn about SEC filing dates

FAQ

What insider transaction did BLUE DOLPHIN ENERGY CO (BDCO) report?

BLUE DOLPHIN ENERGY CO reported that Lazarus Energy Holdings, LLC made two open-market purchases totaling 10,000 shares of its common stock. Both trades occurred on June 12, 2026 at a price of $3.54 per share.

Who is the reporting person in the BDCO Form 4 filing?

The reporting person is Lazarus Energy Holdings, LLC, identified as a ten percent owner of Blue Dolphin Energy Co common stock. The entity reported direct ownership and executed the disclosed open-market purchases of BDCO shares.

At what price were the BDCO shares purchased by Lazarus Energy Holdings?

Lazarus Energy Holdings purchased Blue Dolphin Energy Co common stock at $3.54 per share. The Form 4 lists this same transaction price for each of the two 5,000-share open-market purchases reported for June 12, 2026.

How many BDCO shares did Lazarus Energy Holdings buy in this Form 4?

Lazarus Energy Holdings bought a total of 10,000 Blue Dolphin Energy Co common shares. The filing shows two separate non-derivative transactions of 5,000 shares each, both coded as open-market purchases under transaction code P.

What additional ownership information about BDCO is disclosed in the footnote?

A footnote states that Jonathan Carroll, President/Managing Member of Lazarus Energy Holdings and CEO and President of Blue Dolphin Energy Company, also directly owns 4,125,000 shares of Blue Dolphin Energy Company common stock, separate from the entity’s holdings.

Were any BDCO shares sold in this insider filing?

No sales were reported in this Form 4. The transaction summary shows two buy transactions totaling 10,000 shares and indicates a net-buy direction, with zero sell transactions or derivative exercises disclosed.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

LAZARUS ENERGY HOLDINGS, LLC

(Last) (First) (Middle)

2301 COMMERCE STREET, SUITE 140

(Street)

HOUSTON TEXAS 77002

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BLUE DOLPHIN ENERGY CO [ BDCO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/12/2026		P		5,000	A	$3.54	8,572,500(1)	D
Common Stock	06/12/2026		P		5,000	A	$3.54	8,577,500(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 1. Jonathan Carroll, President/Managing Member of LEH and CEO and President of Blue Dolphin Energy Company also directly owns 4,125,000 shares of Blue Dolphin Energy Company.

	/s/ Jonathan Pitts Carroll, Sr., President	06/16/2026
	** Signature of Reporting Person	Date
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.
* Form 4: SEC 1474 (03-26)