Infinity Natural Resources Inc.

03/19/2026 | Press release | Distributed by Public on 03/19/2026 15:25

Statement of Changes in Beneficial Ownership (Form 4)

FORM 4
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 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
GRAY STEVEN D
2. Issuer Name and Ticker or Trading Symbol
INFINITY NATURAL RESOURCES, INC. [INR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O INFINITY NATURAL RESOURCES, INC., 2605 CRANBERRY SQUARE
3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026
(Street)
MORGANTOWN, WV 26508
4. If Amendment, Date Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
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
Class A Common Stock 03/17/2026 M 17,411(1) A (2) 17,411 D
Class A Common Stock 50,000 I By: SD Gray Family Partnership LP(3)
Class A Common Stock 15,000 I By: The Gray Management Trust(4)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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 control number. SEC 1474 (9-02)
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 Underlying Securities
(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 of Derivative Security: 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
Restricted Stock Units (2025) (2) 03/17/2026 M 17,411 (5) (5) Class A Common Stock 17,411 $ 0 0 D

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
GRAY STEVEN D
C/O INFINITY NATURAL RESOURCES, INC.
2605 CRANBERRY SQUARE
MORGANTOWN, WV 26508
X

Signatures

/s/ Raleigh Wolfe, as Attorney-in-Fact for the Reporting Person 03/19/2026
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Reflects shares of Class A common stock, $0.01 par value per share (the "Common Stock"), of the Issuer delivered upon vesting and settlement of previously awarded restricted stock units ("RSUs").
(2) Each RSU represents the contingent right to receive one share of Common Stock.
(3) The Reporting Person exercises 100% control over SD Gray Family Partnership LP ("Gray Family Partnership"). Gray Family Partnership is managed by its general partner, SD Gray Management Co., of which the Reporting Person is the chief executive. By virtue of the relationship, the Reporting Person may be deemed to have or share beneficial ownership of the securities held of record by Gray Family Partnership, but the Reporting Person disclaims any beneficial ownership of the reported securities other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
(4) These securities are owned by The Gray Management Trust, of which the Reporting Person is a trustee and beneficiary. By virtue of the relationship, the Reporting Person may be deemed to have or share beneficial ownership of the securities held of record by The Gray Management Trust, but the Reporting Person disclaims any beneficial ownership of the reported securities other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
(5) On March 17, 2025, the Reporting Person was granted 17,411 RSUs, which vested in full on the first anniversary of the grant date.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.
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